Gold rose sharply in last few session & reach to the battle field area $1172-1182 once again. A break above $1182 will needed to gain momentum while a reversal could lead for more profit booking.
Silver bounced from 261.8% Fibonacci retracement & a lower trendline of current descending channel. More stability will come above $16 mark while a reversal could lead for retesting for lower trendline.
Copper trading in a rising wedge pattern which generally lead for a downside breakout. While continuity in current pattern will delay the opportunity.
Crude nicely moving higher with support as will as moving out from rising wedge pattern. However this move could be short leaved if $80 area fights back.
Natural gas continue moving higher on cold weather forecast. A rising wedge pattern suggest for profit booking while lower level could be used as buying opportunity for this week.
Note – Above studies do not represent our buy sell recommendation. For recommendations Contact Us