Safe Trading in Precious Metal and Call’s

Market Outlook

Gold price failed to breach the correctional bearish channel’s resistance to trade with strong negativity and break 1335.40 level again, which reactivates the correctional bearish scenario that its next target located at 1316.48, Crude oil price retested 64.20 that was broken previously and keeps its stability below it until now, and continues to form negative pressure against the intraday trades, these factors encourage us to keep our bearish overview for the upcoming period, reminding you that the correctional targets begin at 62.65 and extend to 61.40 after breaking the previous level, Copper price faced stochastic negativity recently by fluctuating below 50 level to keep the main stability within the bullish channel, the major indicators will force the price to provide more sideways trades until gathering the bullish momentum followed by starting to achieve the main waited targets at 3.4400 and 3.5400.

Fundamental News

Gold prices fell 1 percent to a 2-1/2-week low on Tuesday, as investors focused on expectations for higher U.S. interest rates, even as U.S. stock markets swung wildly in both directions a day after the Dow and S&P 500 indexes tumbled.

Crude prices ticked higher on Wednesday; amid speculation weekly supply data due later in the day will show a decline in U.S. oil and fuel supplies.

Gold showed sideways to bearish movement and found the major support level of 29850. Now if price sustains on lower level then it will test next support level of 29699. On other side 30250 will be major resistance level.

Silver showed sideways to bearish movement and found the major support level of 37800. Now if price sustains on lower level then it will test next support level of 37450. On other side 38863 will be major resistance level.

Crude oil showed sideways to bearish movement and found the major support level of 3927. Now if price sustains on lower level then it will test next support level of 3866. On other side 4065 will be major resistance level.

Copper showed sideways to bearish movement and found the major support level of 437.20. Now if price sustains on lower level then it will test next support level of 433.95. On other side 445.30 will be major resistance level.

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