Gold: Fresh buying if closes above Rs 28900, Nirmal Bang

Nirmal Bang has come out with its report on Gold, Silver, Copper, Nickel, Lead and Crude.

Gold prices failed to sustained close above 28900, and witnessed profit booking to the tune of 28635 and recover swiftly and closed at the higher end. we expect price to hold support at 28800. A fresh buying recommend only above the close at 28900. oscillators are in positive territory.

Silver prices are expected to trade find resistance at 55500 -55600. One should sell around that level maintaining a stop loss above 56200. Oscillators are in negative territory.

Copper prices are expected to bounce to the tune of 429 -430 on higher end. Oscillators are heading up and prices should resist 430, one can maintain a stop loss above 433.

Nickel prices are indicating further weakness as long as sustaining below 932.Oscillators are indicating a flat move.

Lead prices are expected to trade within a range from 110.50 to 108.50. one should trade within the range.oscillators are in positive zone.

Crude prices are expected to test 5525 – 5545 on higher end if sustained above 5470 – 5480 support zone. oscillators are heading up.

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