Commodity market news, commodity market tips, gold prices, silver prices today 26 july , cruide oil prices
We expect the gold prices to remain bullish following debt concerns in EU and US which is likely to affirm its appeal as safe haven investment option. Silver prices are
also expected to remain bullish following slow recovery in major economies and following safe haven investment demand.
Comex prices are likely to remain up as the 10 period MA slope is up and MACD is positive. Comex prices are having key resistance at $1625 and support at $1602 for the day. At MCX, prices are having resistance at 23300 and support at 23120 for the day for August contract.
Silver-prices at Comex are likely to remain up as the 10 period MA slope is up while MACD is positive. Comex silver prices are having resistance at $40.96 and support at $39.80. At MCX prices are having resistance at 60550 and support at 59078 for the day for September contract. RSI is in overbought territory hence buying on dips is advised.
Crude oil prices are likely to remain range bound as the 10 period MA slope has turned flat and MACD is in positive territory. Key resistance for the day is at $99.80 while support is at $98.50 at Nymex. At MCX prices are having key resistance at 4450 for the day and support is at 4365 for August contract.
LME Copper prices are expected to remain range bound to up as the 10 period MA slope has turned up and MACD is flat. LME copper prices are having resistance at $9770 and support at $9660. At MCX prices are having resistance at 437.50 and support at 432 for the day for August contract.
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