Long crude oil with stop loss below Rs 4,500: Nirmal Bang
Find out the important technical levels and trading strategies for widely traded currency pairs.
Gold prices have witnessed a break on the upside, one should look for buying opportunity around Rs 29,700. Oscillators are in positive zone.
Silver prices are likely to trade within a range from Rs 53,500 to 55,250 one can long as gold prices can be supportive for silver.
Copper prices could test Rs 397-396 zone and witness buying interest since over sold. Prices are expected to test Rs 405-407 where one could take profit.
Nickel prices are expected to bounce to the tune of Rs 900 one can long with a strict stop loss below Rs 855.
Lead prices are expected trade within Rs 105.30 to 103.30, one can sell around Rs 105.30 with a stop loss above Rs 106.30.
Crude prices are expected to bounce since we see the oscillators are extremely over sold one can long with a strict stop loss below Rs 4,500 for the target at Rs 4,595.