Gold Mini Sep/ LBMA Spot Gold
Choppy trading inside $1975-1900 regions are expected initially. Breaking any of the sides would suggest fresh direction to the commodity. Anyhow, a direct drop below $1880 is a signal of reversal. MCX Gold Oct Res: 52120 Support: 50940.
Silver Mini Nov/ LBMA Spot Silver
Breaking the resistance of $27.60 is required to continue further upticks in the counter. Else, we may see weak sentiments in the counter. An unexpected drop below $25.80 is a signal of continuation of selling pressure. MCX SilverM Nov: Res at Rs 71350. Sup: 66150.
Intraday bias likely to be on the downside as long as 530 caps the update. However, consistent trades above the same would take prices further higher.
Inability to move past 1128 expect weak sentiments for the day. Else, intraday bias will be on the positive side.
Expect choppy trading inside 150-146 levels initially, and breaking any of the sides would suggest fresh direction to the commodity.
As long as 196 caps the upside, expect weakness to continue the day. Else there are chances of rallies.
Immediate resistance is seen at 148, which needs to be cleared for continuation of rallies. Weakness is seen only a break of 144.
MCX Crude Oil Sep/NYMEX Crude Oct
Expect an initial correction but prices likely to consolidate near $37-38 region and a turn higher later. However, an unexpected drop below $35.80 would further weaken the sentiments. MCX Sep: Res at Rs 3020 / Support: Rs 2835.
Natural Gas Sep
Inability to hold the support of 167 would extend selling momentum in the counter. A direct turn above 177 is required to negate the view.
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