Gold Prices Steady, Set for fourth Straight Weekly Gain | Today Stock Market News Outlook 05 JAN 2018.
Bullion - Opens on mixed Note Gold -29250-29260 Silver -39200-39250
Energy - Opens on mixed Note Crude Oil -3920-3924 Natural Gas -183-184
Base Metals - Opens on mixed Note Copper -458-460 Nickel -799-798 Lead -163.20-163.30 Zinc - 213.70-213.80 Aluminium -142.10-142.30
Gold has opened on negative note after the FOMC meeting but during the day price has recovered and settled on positive note. On the other hand, COMEX Gold hit its two months high and sustained above psychological level of $1300; which indicate bullish move will continue further.
On the daily chart, MCX Silver has given breakout of falling trend and sustained above it. On the other hand, COMEX Silver has also sustained above the falling trendline after one side bullish movement on the daily chart; where it has crossed psychological level of $17.
Copper price has retracted from high after forming a rounding top on daily chart; which suggest upward trend has ended and price may reverse from top.
On the daily chart, Aluminium Price has found the resistance of rising trendline and reversed back from high; which indicate trend reversal for short term. I
Crude oil price has traded above the range bound momentum and made a new high of 3950 levels. Overall, Crude Oil price is in bullish trend where it has given breakout of “pennant” pattern and sustained above it on daily charts.
Natural Gas price has started the day on positive note but after the inventory it has shown further correction and fell down by around 3.1% for the day.
Share story
0 comments: