Intraday View: GOLD Technically, Gold Dec futures have strong support at 29600 & Resistance at 30450 levels. The Broad Trend in Gold remains bullish.So, it’s advised to go long Gold at all lower levels with a final stop loss at 29610. Price of the Precious Metal are down approximately 26% this year, heading for the first annual loss in 13 years. For the Day Sell Gold Dec Futures if it breaks below 30000 levels for a target of 29700 or Go Long If it breaks above 30300 for a target of 30600 levels. SILVER Technically, Silver Dec futures have strong support at 44000 & Resistance at 44650 levels. The Broad Trend in Silver remains bearish So, it’s advised to go short Silver at all higher levels with a final stop loss 45150 levels. Silver Mar futures Inched up 0.84% on the week, but still lost 8.8% in November. For the Day Sell Silver Dec Fut if it breaks below 44000 for a target of 43500 else go long if it breaks above 44650 for a target 45150 levels. CRUDE OIL Technically, Crude Oil Dec futures have strong support at 5885 & Resistance at 5760 levels. The Broad Trend in Crude Oil remains Bearish. So, it’s advised to go short in Crude Oil futures in all the higher levels with a final stop loss 5975 levels Crude oil Jan Futures delivery fell 1.06% on Friday to settle the week at usd 109.69 a barrel. For the day go long in Crude oil futures if it breaks above 5885 for a target of 5985 or If it Breaks 5760 levels go short for a target of 5660 Levels. NATURAL GAS Technically, Natural Gas Dec futures have strong support at 243 & Resistance at 248 levels. The broad trend remains bullish. So, it’s advised to go long in all the dips with a final SL at 234 levels. Natural gas prices were jumped by 3.61% the fourth consecutive weekly gain. For the day Sell Natural Gas Oct Futures if it breaks 243 levels for a target of 238 contrarily go long in Natural Gas Oct Futures if it breaks above 248 levels for a target of 253. COPPER Technically, Copper Feb futures have strong support at 448 & Resistance at 453 levels. The broad trend remains Bullish. So, it’s advised to initiate long positions at all lower levels with a final SL at 441 levels. Copper traders often use manufacturing numbers as indicators for future copper demand growth, as the industrial metal is widely used by the sector. For the day Sell Copper NovFut if it breaks 448 levels for a target of 438 contrarily go long in Copper Nov Futures if it breaks above 453 levels for a target of 463. NICKEL Technically, Nickel Dec futures have strong support at 837 & Resistance at 855 levels. The broad trend remains Bearish. So, it’s advised to initiate short positions in all the higher levels with a final SL at 826.For the day Sell Nickel Dec Futures if it breaks 837 levels for a target of 823 contrarily go long in Nickel Dec Futures if it breaks above 855 levels for a target of 870.
Posted on: Mon, 02 Dec 2013 10:14:56 +0000
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