GOLD
The bearishness in the gold prices drive itself to trade below the main bullish trend line as shown in above chart, which pushes the price to head towards the key support 1297.75. In general, bullish bias will be back in coming sessions unless breaking 1297.75 level and holding below it, as the price gets continuous support the expectations is bullish.
SILVER
The bearishness in the gold prices drive itself to trade below the main bullish trend line as shown in above chart, which pushes the price to head towards the key support 1297.75. In general, bullish bias will be back in coming sessions unless breaking 1297.75 level and holding below it, as the price gets continuous support the expectations is bullish.
Since the morning session, gold
price settles within tight range below the key bullish trend line, and
continues to fall. This can be a false also, and latter in the upcoming
sessions, the prices could gear up and drive into bullish zone to break the
1321 resistance.
The price
rejected when attempted to break the 19.20 level. Silver price keeps its
stability below 19.00 level after the breakout from the bullish trend line as
shown in the above chart. For today bearish scenario is valid, waiting to test
18.50 level.
CRUDE
Yesterday, crude prices faced
good resistance barrier at 49.00 and settled below it. The prices will continue
the sideways movement in near &short term to get enough positive momentum
to climb again, confirming the bullish trend.
The negative momentum dominates
crude prices since morning, the stability above the key support 48.20 shows
bullish nature, which reinforces the chances of resuming the bullish trend in
the upcoming sessions, waiting to surpass 49.34 barrier.
COPPER
Copper prices continues to
provide negative closings which now indicates moving of the prices towards
lower trend line of the triangle formation. Copper broke the immediate support
2.18 level yesterday and gave closing below it.
The prices are still trading
lower since morning and confirming its bearish trend for short term.
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