MCX Gold prices may test Rs 29450-29500: Nirmal Bang

Nirmal Bang has come out with its technical report on precious metal, base metal and Crude Oil. The research firm expects Gold prices can bounce till Rs 29450-29500.

Gold prices are expected to trade sideways from 29200 to 29500, the trend remains weak however one can expect a bounce till 29450-29500.

Silver prices are likely to trade sideways from 54400 to 55500. Oscillators suggest a positive move ahead. One can long with a stop loss below 54300.

Copper prices recovered from the lows at 421.65, one can long the metal if sustains above 424 for the target at 428 -429 maintaining a stop below 424.

Nickel prices are expected to witness a sideways move from 905 to 925. One can buy around 910-907 with a stop loss below 900.

Lead prices are expected to bounce till 120-120.50, prices are expected to trade within the range from 118 to 121.

Crude price are expected to trade within the range from 5050 to 4940. One can trade within the range with a positive bias.

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