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Market Update:
Copper Update: Current trades pointing towards a consolidation phase within a tight range 448-441. Either side breakout would be required to suggest fresh directional moves.
Gold Update: For the last few session prices have been trapped in 29100-29300 ranges. While the base trend continues to remain in favour of bulls, as long as 29300 caps upside, choppy trades with a mild negative bias may be seen for the day and slippage past 29100 should open room for further liquidation possibly towards 29000-28900 or more. Alternatively, break above 23900 will see prices testing 29360-29500 ranges.
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Silver Update:The prevailing negative bias could find support near 55800 for a turn higher towards 56500/900 region. However, break below 55800 could see long liquidation towards 55500/55150. Major bullish rally could be on cards if close above 57200.
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Nickle Update: As long as 938 holds the downside support expect prices to continue its positive bias towards 952/958 region. However, slippage past 938 could see prices revisiting levels of 928/919.
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Crude oil Update: The customary weak bias is likely to extend till 5440/5420 region. Break below 5420, could see further slippage towards 5400/5380 territory. However, consistent trades above 5480 region could see prices pushing higher towards 5520/5550 levels.
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NG Update: The bullish run off late could sustain if trade above 128 on a consistent basis pointing higher towards 130/132. Otherwise, an initial correction towards 126/122 could be imminent. However, major selling pressure seen below 119.
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