Gold Mini Sep/ LBMA Spot Gold
Prices continue to be choppy inside $1975- 1920 regions 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
Resistance of $27.60 needs to be cleared for continuation of further upticks in the counter. Else, may see mild weakness in the counter for the day. An unexpected drop below $25.80 is a signal of continuation of selling pressure. MCX SilverM Nov: Res at Rs 71350. Sup: 66150.
Consistent trades above 528 would take prices further higher. Else, likely for a corrective selling for the day. A direct drop below 512 is a signal of reversal.
A direct break above 1112 is required to continue buying sentiments in the counter. Else, there are chances of more selling pressure.
Expect a choppy trade inside 151-145 levels initially and breaking any of the sides would suggest fresh direction to the commodity.
As long as prices stay above 195 buying momentum would continue. However, a close below 186 is a signal of reversal.
Support of 144 continue to hold the downside and expect recovery moves for the day. A direct break of the same is a signal of liquidation pressure.
MCX Crude Oil Sep/NYMEX Crude Oct
Immediate resistance of $42 required to be cleared for continuation of further rallies. Else, expect corrective selling pressure for the day. MCX Sep: Res at Rs 3120 / Support: Rs 2860.
Natural Gas Sep
An upside turnaround is possible as long as prices hold the downside support of $1.94. However, an unexpected break of $1.88 would extend liquidation pressure.
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