Expect Gold prices to trade weak today: Nirmal Bang

Nirmal Bang has come out with its report on Gold, Silver, Copper, Nickel, Lead and Crude.


Gold prices are expected to trade weak as it has broken and close below the support of 29500. Prices are expected to test 29100 on lower end. Sell on rise till 29500.

Silver prices are likely to trade lower below 52550, one can witness a heavy sell off once it closes below 52550.

Copper prices are expected to trade lower till 417 -416, one can expect a bounce till 421- 421.50 whereby we expect selling pressure to continue. Maintain a stop loss above 424.

Nickel prices are expected to test 890 885 on lower end. One can sell on rise around 905 with a stop loss above 915. Oscillators indicating a negative move ahead.

Lead prices are expected to trade lower one can sell around 104 -104.20 with a stop loss above 1054.20.

Crude prices are likely to trade lower as it resisted 4815 on higher end and prices are likely to test 4670 -4650.

Source:http://www.moneycontrol.com/news/brokerage-recos-commodities/expect-gold-prices-to-trade-weak-today-nirmal-bang_728818.html