Expect Gold to test support at Rs 29550-29500: Nirmal Bang

Gold prices as expected to test the support at 29550 29500, for intraday one can look for buying opportunity with a stop loss below 29470.prices are expected to bounce till 29800 -29850.

Silver prices are likely to hold the support at 51200, one can remain caution in short position. A close below 51200 should further add short position in the counter. Oscillators indicating flat to down move.

Copper prices are expected to trade within a range from 420 to 428. One can trade within the range with a positive bias.

Nickel prices are expected to trade in a range from 930 to 950 one can buy with a stop loss below 925.

Lead prices are expected to bounce one can buy with the stop loss below the recent low at 101.40.

Crude prices have broken the important support at 4500 and closed below that, we expect further selling to continue till 4400. One can sell around 4520 -4510 with a stop loss above 4570.

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