It’s the start of a new session and the start of the new week. With several events scheduled for the week, the market is in for a surprising turn of events.
So without further aidue, let’s get started with the analysis:
Dollar index
The dollar index is trading around 103.280.
Support is at 103.00 and resistance is at 103.50
Above 103.50… Buy it!! Upside targets look 103.80—104.00
Sell below 103.00 levels only
Below 103.00, the downside target looks 102.60—102.35 again
XAUUSD
Our positional buy call from 2055—2145 has proven great
Morning session we have given sell around $2080.
Booked the profit around $2072
Now XAUUSD trading around $2065
Buy on dip around $2050…!!
Again Upside Targets Look at $2080—$2115
Will it cross $2150???
XAGUSD
XAGUSD is trading near support of $25.15!!
Above $25.30, buy it for the upside targets of $25.500—$25.80
XAGUSD looks weak below the $24.90 level only
COPPER
Copper is trading around $3.86
Trading range is $3.81—$3.89
Either side breaks or closes with volume will decide further
CRUDE OIL (WTI)
Panic continues… Sell call given from $75.00 levels
Hope you have booked
Profit with commodity Samachar in crude from $73.40—$73.00 in today’s morning session.
Major support $72.00…
A decisive close below $72.00 will take Crude oil to $68—$65 in days to come.
NASDAQ
NASDAQ is trading around 15958
Below 15940… Sell it!!
The downside target looks 15870—15830 and then to 15725
Maintain stop loss of 16055
S&P 500
S&P rejected their resistance in the daily chart from 4600!!
Sell below only 4585
Downside targets look 4525—4485.
Resistance and stop loss of 4620
TOP PICK- GBPUSD
Buy above 1.2690. Stop loss 1.2665. Target1.2715
Forex News – The Essential Aspects:
- The Gold prices have recorded a new all-time high due to escalating geopolitical tension as Israel and Hamas resume fighting.
- Looking at a different spectrum, the US dollar has fallen sharply in the most recent weeks and the greenback’s bearish corrections may extended if the US job data surprise to the downside.
- Even though several FED officials have been dismissive of the idea of aggressive rate cuts in the near future, others have not entirely ruled out the potential possibility of rate cuts. Due to this, the November US employment report that is due next Friday would be significant for the formulation of monetary policy at upcoming meetings.
Commodity Samachar
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