GOLD
Gold price achieved strong break to 1307 level yesterday and closed the daily candlestick below it, which pushes the price to extend the correctional bearish wave on the short term basis, targeting visiting 1249 level mainly by surpassing its immediate support 1270.
Therefore, the bearish bias will be suggested in the coming sessions supported by the pessimistic nature.
In the morning session, gold price settles near 1270 level, after that the prices are in tight range, trading between 1275-1268 level; as long as the price is below 1297.75 level, bearish trend outlook will remain valid for today, waiting for testing 1249 level mainly.
SILVER
CRUDE
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Gold price achieved strong break to 1307 level yesterday and closed the daily candlestick below it, which pushes the price to extend the correctional bearish wave on the short term basis, targeting visiting 1249 level mainly by surpassing its immediate support 1270.
Therefore, the bearish bias will be suggested in the coming sessions supported by the pessimistic nature.
In the morning session, gold price settles near 1270 level, after that the prices are in tight range, trading between 1275-1268 level; as long as the price is below 1297.75 level, bearish trend outlook will remain valid for today, waiting for testing 1249 level mainly.
Silver
price showed strong negativity yesterday to surpass 18.50 level and settles
below it, which puts the price under more negative pressure, opening the way to
visit 17.43 level initially.
On
the other hand, we notice that the broken level took the prices towards lower
trend line of Flag pattern. Now, prices could bounce back towards upper trend
line and eventually give the target of flag formation.
Silver
price shows slight bearish bias to move below 17.65 barrier now, keeping the
bearish trend valid for the rest of the day, waiting for testing 17.50
level.
Crude
oil price resumed its positive trading yesterday to breach its key resistance
49.34.
Crude
oil price begins attempts to breach 50.40 level now, which supports the
continuation of the bullish trend scenario efficiently in the upcoming period,
and the price needs to get closing above the mentioned level.
COPPER
Copper
price faced negative pressures yesterday after breaking its key support of
2.18.
Now,
copper is testing its immediate support of 2.1476. These factors suggests the
bearish bias for the near term period. If the prices break 2.1476 level today
and gave closing below then the prices could revisit 2.12 level followed by
2.15 level as the main station.
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