BASE METALS
● When to sell Silver?
Watch out for S1, if it touches the target and the market recovers by 80 points thereafter, our analysts suggest investors should sell silver, with the stop loss of S1 + 150 points. The targets in this case would be S2 and where S3 will become the strong support.
● When to buy Silver?
Watch out for R1, if it touches the target and the market goes down by 80 points thereafter, our analysts suggest investors should buy silver, with the stop loss of R1 - 150 points. The targets in this case would be R2 and where R3 will become the strong resistance.
Base metals on the LME
traded lower weighed down by economic weakness in top consumer China and
expectations the Federal Reserve will prepare the ground for an increase in US
interest rates.
GOLD
Spot gold prices rose by 1.58 percent to close at $1166.8/oz, its biggest rally since January after the Federal Reserve signaled a more cautious outlook for U.S. economic growth, and the dollar tumbled.
GOLD
Spot gold prices rose by 1.58 percent to close at $1166.8/oz, its biggest rally since January after the Federal Reserve signaled a more cautious outlook for U.S. economic growth, and the dollar tumbled.
R3
|
R2
|
R1
|
PP
|
S1
|
S2
|
S3
|
37974
|
37038
|
36705
|
36102
|
35769
|
35166
|
34230
|
Watch out for S1, if it touches the target and the market recovers by 80 points thereafter, our analysts suggest investors should sell silver, with the stop loss of S1 + 150 points. The targets in this case would be S2 and where S3 will become the strong support.
Watch out for R1, if it touches the target and the market goes down by 80 points thereafter, our analysts suggest investors should buy silver, with the stop loss of R1 - 150 points. The targets in this case would be R2 and where R3 will become the strong resistance.
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