Mtechtips

MTECHTIPS:-GOLD

Gold in yesterday’s session, again witnessed further up move as the commodity sustained above the levels of 30150. Gold will witness strong resistance above 30240 levels in coming days any up move will open the resistance of 30350. The trend is positive and correction till 29800 levels will not be a major concern, and immediate supports are seen around 30100 levels. And on the downside weekly support is seen around 29800 levels any decline will test 29600.

MTECHTIPS:-SILVER

Silver witnessed a sideways session as the commodity witnessed consolidation around the 53500 levels in last few sessions. The commodity in coming sessions has strong support at lower levels around 53200. Any dip in the commodity below these levels will open up levels of 52500and lower in coming days. Silver has strong resistance above 54000 levels and if it manages to hold above these levels we may soon test levels of 54600.

MTECHTIPS:-CRUDE OIL

Crude oil witnessed a very positive session as the commodity gained strongly to close well above 5300 levels. Crude oil has support at lower levels around 5280 any sustained dip below these levels will open up the levels of 5200 levels. Crude oil will face strong intraday resistance above 5400 levels. Any move in the Crude oil above these levels will open up 5480 levels. The commodity is in a uptrend and sustaining at current levels will be positive sign and we may soon test 5500 levels also.

MTECHTIPS:-COPPER

Copper witnessed another [positive session, as the commodity sustained around the 420 levels. Copper has been trading in a range of 410-440 in the last few weeks and also since last few months; the movement has been volatile inside this range. For the day support is seen around 417 levels any decline will open up 412 levels. Resistance for copper in coming session is seen above the 424 levels. Any up move will open up levels of 427 and higher.