Crude oil rallied again after the OPEC meeting was postponed. However, the next date of the OPEC meeting will be decided later on. The postponement of the meeting has been interpreted as not agreeing with the increase in production among OPEC+ countries. The data of Euro ZEW economic sentiment data
Bullion traded with positive bais despite better than expected US employment data and dollar volatility. Crude’s move has troubled everyone. There has been concern about the delay in OPEC’s decision to increase or decrease production. Today is the third day of the OPEC meeting. Oil companies estimate the price of
Better-than-expected US unemployment data and a marginal decline in manufacturing data created volatility in the commodity market. Today, the data of non-farm employment change will be present by the US at 6:00 pm. The forecast figure is expected to come to 725000 which is more than the previous one of
Better-than-expected US non-farm payrolls and pending home sales data led to a jump in the base metal commodity, but gold and silver jumped on a worse-than-expected Chicago PMI data. Today the data of ISM Manufacturing PMI will be presented by the US at 7.30 pm. A slight decline is expected
Better-than-expected US consumer confidence data led to a rise in the base metal and a fall in bullion. According to the API, there has been a decline of -8.2 million barrels of stock in crude. Crude inventory is scheduled tonight at 8 PM. In which a decrease of -4.2 million
Gold has support at 46600 and resistance at 47000 Silver has support at 67100—66500 and resistance at 68200 Copper has support at 707—702 and resistance at 717 Nickel has support at 1340 and resistance at 1370 Zinc has support at 233 and resistance at 237 Aluminium has support at 193
Trendy Gold (Aug) As expected, we have seen range-bound trading in Gold. Gold falls vertically after the FED statement in the previous week and now it is in a consolidation phase. Now, what to expect??? Gold has support at 46600 and resistance at 47400. Gold has formed DOJI pattern on
Trendy XAU/USD As expected, we have seen range-bound trading in Gold. Gold falls vertically after the FED statement in the previous week and now it is in the consolidation phase. Now, what to expect??? Gold has support at $1760 and resistance at $1805. Gold formed bullish Harami pattern on the
Gold Support at 46800 and resistance at 47350 Silver Support at 67300—66500 and resistance at 68800 Copper Support at 710 and resistance at 724 Nickel 1335 and resistance at 1348—1355 Zinc Support at 234 and resistance at 240 Aluminium Support at 188 and resistance at 191 Lead Support at 167
