Today’s Copper News and Profitable Call

1

2

Market Outlook

Gold prices inched higher on Monday, kicking the week off with gains as another missile test by North Korea underpinned demand for safe-haven assets. The yellow metal notched a third-straight winning session on Friday, a feat it had not achieved since mid-April, following the release of underwhelming U.S. retail sales and inflation data. Oil rose more than 2 percent on Monday to $52 a barrel after top exporter Saudi Arabia and Russia said supply cuts needed to last into 2018, a step towards keeping an OPEC-led deal to support prices in place longer than originally agreed.

3

Fundamental News

Prices for the precious metal held on to broad gains from Friday, when lackluster U.S. data on retail sales and inflation saw investors temper expectations for more rate hikes by the Federal Reserve.

Oil has gained support from the supply deal but inventories remain high and output from other producers such as the United States is rising, keeping prices below the $60 that Saudi Arabia would like to see.

4

5

Gold showed sideways movement and find the important support level of 27950. Now if it will close below the important support level of 27950 then 27750 will act as next support level. On the other hand 28200 will act as a major resistance level.

6

Silver showed sideways movement and found the important support level of 38350. Now if it will close below the important support level of 38350 then 38050 will act as next support level. On the other hand 38900 will act as a major support level.

7

Crude showed sideways to bullish movement and find the important resistance level of 3190. Now if it will close above the important resistance level of 3190 then 3240 will act as next resistance level. On the other hand 3100 will act as a major support level.

8

Copper showed sideways movement and find the important support level of 359. Now if it will close below the important support level of 356 then 351 will act as next support level. On the other hand 368 will act as a major resistance level.

9

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *