Updates on Bullion, Base Metals, and Energy Levels 13th Jan 2020
13/1/2020

Updates on Bullion, Base Metals, and Energy Levels 13th Jan 2020

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Gold traded lower on Monday ahead of the planned signing of an interim trade deal between Washington and Beijing, which has encouraged investors to return back to riskier assets. On the other hand, Crude oil traded sideways as fears of conflict between the United States and Iran eased, with investors shifting their focus to this week’s scheduled signing of an initial U.S.-China trade deal, which could boost economic growth and demand. 


No Major Economic data for the day.


Technical Levels


Gold (Feb)

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Support at 39500 and Resistance at 40000.

Trade within the range and wait for the confirmation.


Natural Gas (Jan)

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Support at 155 and resistance at 159.

Break and sustain above 159 will take it 163—165 or else it could test its support again.

Fresh selling will do on a close below 155.

Trade with the levels only. 


Nickel (Jan)

Image result for Nickel

Support at 1035 and Resistance at 1050.

Break and sustain above 1050 will take it 1065—1070 or else it could test its support again.

Fresh selling will do on a close below 1035.

Trade with the levels only. 


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Tags:Gold & Silver, Basemetal, Crude & Natural Gas, Full MCX

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