INTERNATIONAL SPOT GOLD VIEW FOR THE DAY AND NEAR TERM:Support at lower levels will be witnessed first of the channel and then of the retracement level of 882$.
Support Cluster will be in the range of 890$-873$ which could be tested during the day.
Some bounce back could be witnessed from the support range.
Resistance will be at 903$-915$-935$.
Spurt on intra-day towards 903$-915$ is possible as yesterday was the day of large wide movement on the downside. A relief rise to resistance is possible.
In case of fall and close below 873$ then expect the slide to move down towards 844$ to 806$.
Overall traders holding short positions can maintain a stop loss at 923$ to maintain short positions. Alternatively, cover short positions at support range and re-enter short on fall below 873$.
INTERNATIONAL SPOT SILVER VIEW;-Support will be at 12.46$-12.40$.
Sell further on fall and close below 12.40$ with high of the day stop loss or 13.02$ whichever is higher at the point of breakdown.
If that happens then expect a slide towards 11.98$ at least.
Sell on rise to 12.75$ or above with a stop loss of 13.02$
NYMEX LIGHT SWEET CRUDE OIL:Traders can exit long positions on rise from current price to 50.50$ as the opportunity arises to re-enter long on close above 50.50$.
Intra-day traders can take chance to buy only above 48.9$.
A fall and close below 44.9$ can bring about a fall in price and Crude can go below the trend line which will mean a false breakout situation was witnessed.
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