Commodity Recommendations By Experts (6th March 2017)

Precious metal prices are expected to trade positive on the back of short covering after sharp drop in prices, and rising geopolitical tensions over North Korea and a weaker dollar.

Crude oil prices are down last week as record high U.S. crude supplies tempered expectations that the market will rebalance as evidence emerges that OPEC producers are complying with an agreement to cut production.

Base metals prices are trade range bound for the day, supported by protracted disruptions at the world’s two biggest copper mines and a decline in the recent strength of the dollar.

GOLD (APR)
TREND: CONSOLIDATE
RESISTANCE 2 29500
RESISTANCE 1 29350
SUPPORT 1 28950
SUPPORT 2 28800
STRATEGY SELL ON HIGHS

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