The gold short-term trend turned moderately bearish, and the price can retest support at 61925/61750 levels - HDFC Securities
BULLION
Gold
Trading Strategy:
The gold short-term trend turned moderately bearish, and the price can retest support at 61925/61750 levels. Sell Gold Feb Fut at 62020 TGT 61850/61700 SL 62180.
Silver
Trading Strategy
Silver March future is expected to trade in the range of 71200 to 72600 for the day with a moderately bearish bias. Sell Silver Mar Fut at 71925 TGT, 71480/71200 SL, 72300.
MCX Crude Oil
Trading Strategy:
Crude oil prices continue to consolidate in a broader range of 5870 to 6100 amid mixed fundamentals. Sell crude oil Jan Fut at 6025 TGT 5920/5870 SL 6100.
Natural Gas
Trading Strategy:
Bearish momentum will continue in natural gas after the price broke important support at the 245 level in the previous session. It has support at 224/219 and resistance at 245/259.
Copper
Trading Strategy:
Copper has stuck in the choppy range of 712.80 to 719 from the last few sessions, and we expect the same trend to continue in the short term. Sell Copper Jan Fut at 717.50 TGT 712/709 SL 722.
Zinc
Trading Strategy:
Zinc January future has immediate resistance at 227.50 and support at 222.0. The price is expected to consolidate in this range for the day. A fall below the 222 level will extend the downside.
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