Gold showed sideways movement but siver showed some strength on higher side. In coming session bullishness can be seen in precious metals. Crude oil was showed bullishness because of shortage in inventory. More bullishness may seen in next trading session, buy on dips would be profitable strategy in crude oil. Base metals were strong and bullish trend seems to be continued.
1). Gold rose on Wednesday as the dollar retreated and investor appetite for safe assets continued on longer-term financial uncertainty after Britain’s surprise vote to leave the European Union.
2). Oil rose more on Wednesday as traders moved money back into markets hit by the initial shock of Britain’s vote to leave the European Union, while a potential oil workers strike in Norway and a crisis in Venezuela’s oil sector also provided support.
Gold showed sideways movement and found support of 31200. Now if it will break 31150 level than 31020 will act as next support level. On the other hand 31500 will be act as major resistance level.
Silver showed bullish movement. Now if it will break the important resistance level of 43500 then 44000 will act as next resistance level. On lower side 42800 will act as vital support level.
Crude oil showed bullish movement. Now if it showed bullish movement and maintain above 3350 then 3440 will be next resistance level. On the other hand 3250 will act as important support level.
Copper showed sideways movement and found the resistance of 325.50. Maintain above 327 then next resistance level will be seen at 330. If some correction happens on lower side then it drags towards support level of 322.
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