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Today Gold, Silver Market Trend

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Market Outlook:

Gold and silver was sideways and trading activity was low. In coming session bearishness can be seen in gold and silver. Selling from high would be profitable strategy in gold and silver.

Copper was bearish and broke the important support level. Demand in china was weak and in coming session more weakness can be seen. Copper could test new lows selling copper would be a profitable strategy.

Crude oil showed sideways movement but its trend is bullish if crude will be closed above the high then buying would be profitable.

Fundamental News:

1). Gold slips on Tuesday as investors turned cautious after the metal failed to sustain a recent rally, though it held near the previous day’s two-week high after the Federal Reserve further dampened speculation about an imminent U.S. rate rise.

2). Oil prices hit their highest in eight months on Tuesday, buoyed by the dollar nearing one-month lows and by falling Nigerian oil output after a spate of attacks on infrastructure.

gold

Gold showed bearish movement and found the support of 29160. Now if it broke 29500 resistance level then 29700 will act as next resistance level. On the other hand 29150 will be major support level.

silver

Silver showed bearish movement in morning session but in the evening session it showed some correction on higher side. Now if it broke the important resistance level of 39500 then 40000 act as next resistance level. On lower side 38700 will act as important support level.

crude
Crude oil showed sideways to bullish movement and found the resistance of 3365. Now if it showed bullish movement and maintain above 3380 then 3425 will be next resistance level. On the lower side important support is 3300.

copper

Copper showed weak movement all the day and broke the important support level of 313 and closed below its major support level of 305. Now if it sustain below 305 then next support level will be seen at 300.

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