Gold: Trading range for today Rs 29100-29500, Nirmal Bang

Gold prices are witnessing a range bound from 29100 to 29500, one can trade within the range.

Silver prices are likely to trade positive and witness 53300 54450 on higher end. One can trade within the range.

Copper prices could witness selling pressure if it sustains below the upward sloping trend line at 422.50 to the tune of 418 -417. A breach below 417 should confirm the momentum to continue bearish.

Nickel prices are expected to trade lower below 919, one can buy with a small stop loss below 919 for the upside target at 938 -941.

Lead prices are expected to find resistance at 108.20 one can sell with a small stop loss above 109.20 for the down side target at 106.50.

Crude prices have given a break down, one can sell around 4890 -4900 for the target at 4780 -4750. Oscillators are in over sold zone hence aggressive selling not advised.

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