Gold fail to get stability above $1172 mark & fall back. However the move was not well supported by volume due to bank holiday in US market. Coming back to technical an triangle pattern ranging from $1172 – $1153 will declare the direction with break out.
Silver trading in tight range after touching the lower trend line of current descending channel around $15 mark. However the gain is still limited & need a very strong upside move with volume to overcome. Probably above $15.75 we witness some cheer for bulls.
Copper trading in very tight range for more than 10 weeks now & probably with a negative tone, which might continue with slower economy sentiment from china & euro. Still an upside move can be used as selling opportunity.
Crude trading very quite after a sharp fall. The current silence hinting for big move ahead, most probably for a downside & crude could retest previous low around &75 & even more.
Natural gas retested the broken resistance turned into support as expected. Winter arrival northeast US is ready to inter in central US as well going to impact some of southern area for coming 2 weeks. A sharp upside move can occur above $4.3.
Note – Above studies do not represent our buy sell recommendation. For recommendation Contact Us