UPDATION ON GOLD

The above chart shows the daily chart of gold , it is formed with symmetrical triangle pattern and finally it is closed with doji star. so, we have to wait for either break out or breakdown points with a good volume.

• If it break 31500 mark with a good volume, we can enter into buy above 31550 for the target 31900
•                                 or
• If it break 31300 mark with a good volume , we take sell position below 31280 for the target 30800

UPDATE ON GOLD,COPPER AND CRUDE OIL

                                                       GOLD

See yesterday's recommendations in gold given to sell at 29410-20 for the targets 29300/29180 both targets achieved in gold and made a new low of 29058 

Now what we expect??....
                  Now sustain below 29060 will take upto 28920 level other wise it will test it's resistance level 29240.if today market is close below 28920 we will see more downside movement in gold.upside movement is only close above 29300 level

                                             Anyway trade with levels only
  
                                                   COPPER

           

Yesterday all metals are taken reverse movement from their lowest levels. copper has crucial support at 310-13 and resistance at 319 level close above 319 will take up to 324 and then 328 levels otherwise it will tests it support level 313 again downside movement is only close below 313 level

                                          CRUDE OIL

Crude oil has support at 2740 and resistance at 2805   break and sustain below 2740 will take up to 2690--2660 level and 2630 levels  upside movement is only close above 2805 will take 2845 and then 2870 levels or else we can see downside movement in coming days
                                        Any way trade with levels only

UPDATION ON CRUDE OIL

   

The above chart shows crude oil 5 hours chart from this chart, it is trading below its bullish trend line and it doesn't break it resistance level 2790-2830 and again taken bearish trend now it it is clearly indicated to sell @2620 level for the targets 2400,2274 and 1850 levels 

See Fibonacci Fan indicator it is trading below 50% of its bullish trend  it is also clearly indicated for strong selling 

UPDATION ON GOLD, COPPER , CRUDE OIL

                                                                    GOLD 

                      

  Gold has Support between 29150---28900 and Resistance at 29400

so,we can buy Gold around 29150---29100 with stop loss below 28900 for the initial target of 29400

Fresh sell only close below 28900 only

COPPER

Copper has a support between  335----332 level and it has a resistance between 340----344 

so, we can buy around 335 level with a stop loss of 332 

for the target of 343 level

Fresh sell only close below 332 level only

CRUDE OIL

Crude oil has support between 2700--2729 and resistance between 2790-2820 if it close below 2750 it could test it support level 2700 again 

so, we sell crude oil around 2790 level with a stop loss placed above 2830 for the targets 2700

we can enter fresh buy weekly close above 2830 level 

UPDATION ON COPPER AND CRUDE

Copper

The above chart shows hourly chart of copper the average price of the copper is 310.90 and it has Support at 308 and Resistance at 312 

NOW WHAT WE EXPECT ???

Three consecutive closes + weekly close below 308 will see sharp downside panic till 293---289 and then to 276 mark in days to come else it could test its resistance level of 314 again

Close above 314 will take to 318---319 and then to 324 mark

Any way Trade with levels only

CRUDE OIL

See  Yesterday 's post  we clearly told to sell around 2461 with stop loss of 2491. Just made a low of 2331

Now what to expect???

Break and sustain below 2320 will see further panic till 2290---2280 and then to 2250 mark

Now hurdle resistance at 2400---2430

UPDATION ON CRUDE OIL

UPDATE ON CRUDE OIL

FUNDAMENTAL REPORT:-

Oil prices fall as weak China data, oversupply drag on markets. Crude oil prices reversed earlier gains on Tuesday, as gloomy Chinese data dragged on sentiment in a market already weighed down by persistently high production levels. The supply side continues to be dominated by producers' unwillingness to cut output and that has led to a surplus of hundreds of thousands of barrels of crude every day as well as a price drop by two-thirds since mid-2014.  

ANZ said the tensions between Saudi Arabia and Iran "will further aggravate the oversupply situation in 2016".

TECHNICAL REPORT:-   

    Fundamentally it is bearish. So, look on the technical analysis  the below chart shows the hourly chart of crude oil it shows yesterday the price is rise up to 2566 but it again turned back to 2460 levels and closed at 2465.

                                                                                

Now what we expect  the average price of the crude oil is 2488 and it has Support at 2430 and Resistance at 2490---2540

Two consecutive closes + Close below 2430 will take to 2370---2320 and then to 2250 mark in days to come else it could test its resistance level of 2540 again

If Close above 2540 will take to 2630---2680+ mark

Any way Trade with levels only