Technical Analysis helps identify trading opportunities using actions of Market Participants through charts, patterns, and indicators – Gold Silver Reports
Gold Silver Reports — Crude oil may trade on firm note as it can move in range of 3330-3444. U.S. oil prices rose to a fresh 10-month high Wednesday as traders stayed focused on production outages that could significantly curb the amount of excess global supply by year’s end. High quality global journalism requires investment.
Gold on MCX settled down -0.29% at 29366 down slightly from Monday’s 2-week high as unable to extend recent gains amid uncertainty over the Fed’s rate hike report.
Gold Silver Reports — Natural gas on MCX settled up 1.05% at 163.70 rose to a new five-month high Monday as warming weather forecasts keep stoking expectations for rising demand.
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Gold Silver Reports — Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year. Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities.
Gold Silver Reports — Base metals may remain downbeat on China slowdown concerns .Copper may move in the zone of 305-315.
Gold Silver Reports — Crude oil may continue its upside as EIA weekly inventory data to give further direction to the prices. Crude oil (June) can move in zone of 3170-3280 in MCX.
Gold Silver Reports – Gold looks like it could continue lower this week & holding below 1263/62 targets first support at 1255 but longs look risky. A bounce from here cannot be ruled out initially, but further losses towards trend line support at 1251/50 would not surprise.
Gold Silver Reports – Copper and All Base metals may witness bounce back at lower levels. Copper may move in the range of 303-315. Lead can hover in the range of 112- 119 while zinc can move in the range of 120-126.
Gold Silver Reports – Gold may open on strong note tracking firm international clues amid decline in greenback. Meanwhile movement of local currency rupee will give further direction to the prices.