- Â Gold
Comex Dec future prices are trading higher at $1778.4, up by 0.46%(8 dollars). Break above $1780-1781 would trigger fresh buying towards $1789/1800 levels. Supports are seen at $1769/1758 levels.
Dec Comex future prices are witnessing a stiff resistance near $3510 levels. Breach and sustainable trades above the same confirm further uptrend towards $3538/3556 levels. Key support level to watch is at $3456 levels which is likely to hold positive view for intraday. CMP $3494
- Crude oil
Nov Nymex future prices are trading at 93.08, up by 67 cents(0.75%). Prices are witnessing a support at 92.6 levels (61.8% retracement of the range 87.55-100.76). Only a significant break below the same confirms downside movements towards 91.60 levels. Conversely, on the higehr resistances are seen at 93.50 and then 94.20 levels , which are likely to limit the upside gains.
Conversely, on the higehr resistances are seen at 93.50 and then 94.20 levels , which are likely to limit the upside gains. expected trading range 92.60-94.20 levels. Crude oil Oct MCX future prices are trading lower at 4992, down by 25rs from the previous close.
Intraday bias remains downside as long as 5054 resistance remain intact. We suggest momentum traders to sell around 5010-5020 for a possible target of 4966/4945 with stoploss above 5055. CMP 5000