Commodities are back on radar with gold, silver, and oil prices rising between 2.5-5% biggest jump in 5 months period.Lets analyses how trader can trade Gold,Silver and Crude today.
Gold Daily Chart
As per daily charts gold is nearing its 20 DMA@1486 , High made in morning session is 1485. Intraday players can use the below mentioned levels.
Buy above 1486 Tgt 1495,1510 and 1540 SL 1480
Sell below 1465 Tgt 1450,1437 and 1424 SL 1475
Level mentioned are Spot levels.
Silver 4 Hour Chart
Silver as per 4 hour chart has been trading in range of 24.9-22.4. Silver rose the most yesterday almost 5% but unable to cross the resistance of 24.9 suggesting pullback rally and corrective down trend should resume.
Buy above 25 Tgt 25.4,26 SL 24.8
Sell below 24 Tgt 23.35,23 and 22.40 SL 24.2
Levels mentioned are Silver Spot
Crude Daily Chart
Crude has been on a rise from past 3 trading session, But unable to cross its downward falling trendline and unable to cross above 89 SMA suggests its a pullback rally and down trend should resume soon.
Buy above 94.2 Tgt 94.6,95.3 and 96 SL 93.9
Sell below 92.4 Tgt 91.5,91 and 89.9 SL 92.7
Levels mentioned are Crude Spot
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