Thursday, 7 August 2014

Gold Silver Trend Update, Comax gold above $1300 , copper and nickel buying trend


Mcx commodity afternoon trend flat for precious metal, gold traded at 28580 with loss of 53 point, mcx silver flat on 43900 level, morning session gold make high 28709 and silver 44125.

gold resistance level: gold support 28480,284013, 28341 and resistance level at 28858, 28925,29026
comax gold open above $1305 and made high $1308.55 while low of day is $1302.6, base metal copper and nickel demand increase after China PMI but Europe and US demand weak for base metal.
Crude oil trend; on US nymax crude oil traded below $96.65 weak trend mcx crude oil fail 15 point at 5940 ,
commodity calls:
buy gold above 28550 target 28650/28700/28750 stoploss 28450
buy silver 43850 target 43950/44100/44200 stoploss 43700
buy crude oil 5950 target 5970/6000 stoploss 5910
sell nickel above 1160 target 1140/1130 stoploss 1170

12 comments:

  1. GOLD (3 OCT.) TREND: CONSOLIDATE
    RES 1: 28800
    RES 2: 29200
    SUPP 1: 28400
    SUPP 2: 28200
    STRATEGY: BUY ON DIPS
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  4. Copper headed for a second weekly decline after imports by China, the biggest user of the metal, fell to the lowest since April 2013.
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  5. COMMODITY TENDS
    COPPER (29 AUG.) TREND: CONSOLIDATE
    RES 1: 435.00
    RES 2: 438.00
    SUPP 1: 428.00
    SUPP 2: 424.00
    STRATEGY: SELL ON HIGH
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  6. Declaring the updates for today, Epic Research says that Silver trading range for the day is 43359-44353.

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  7. Gold extended declines from a three-week high as investors weighed tensions in the Middle East and Ukraine, while assets in the biggest exchange-traded product capped the largest weekly contraction in three months.
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