The Gold prices had come down to 7 DMA i.e. 18250 levels and again started moving up means the prices are in positive momentum as long as it is closing above 18300 levels. For the day we are not expecting major movement in the counter since US and UK market is closed but the trend likely to be sideways to UP for the day. We should buy on dips around 18340-18360 s/l below 18280 for the target of 18650.
Silver:
The silver prices are in positive territory and taking support to 29000 marks, only 29500 is a major resistance if it closes above the same can give further upside till 29900-30100 levels in the short term. We should buy on dips around 29000-29050 with strict s/l below 28700 for target of 29900-30100.
Copper:
The counter has been facing major resistance around 327 and not ready to close above the same we are expecting the counter to trade weak only below 319 and if it breaches the same can go further down till 315-311.
Nickel:
Nickel prices have breached the important support and trading below 990 can trigger further sell off in the counter. We should sell on rise till 995-1000 with strict s/l above 1020 for the target of 960-945 levels in the short term.
Crude oil:
The counter has given spectacular rally in the last three trading sessions and likely to trade up in the short term. But for the day we can expect some profit booking and the prices can test 3420-3400 levels for the day. From there you can go long for the target of 3500 levels with strict s/l below 3369.
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