Gold has made double bottom around 44,150 and bounced back sharply
Copper needs a decisive breakout below 657 for sellers to get active
Range breakout for gold comes above 45,300
For Copper sellers to gain upperhand, they must breach the support of 668 levels
Another surprise build up in US inventory also helped the crude oil prices pushing down below 4,600 but overall trend still is bullish as there is no reversal pattern on daily chart
Any trend reversal for crude oil will only be validated below the 4,350 region
The euro touched a one-month high of $1.2183
Exhaustion is being witnessed in Copper as on daily scale, there has been an emergence of 'Bearish Engulfing' candlestick pattern
The Nifty Metal index is struggling to sustain above the 3,600 mark. However, once breached decisively, an up move towards 4,000 levels can not be ruled out.
Copper climbed as much as 4 per cent on Monday and is heading for an unprecedented eleventh monthly rise in February
Lead is in overbought zone as RSI_14 is at 74, but there is no reversal chart pattern on the daily scale or divergence on momentum indicator
Natural Gas has made 'shooting star' candlestick pattern at the top end of the swing range and, consequently, retraced back
CME has raised margin for silver to push back any more speculative moves
If silver can break above the $26 level, then it is likely that the market goes looking towards the $27.50 level, and then eventually the $28 level
Gold will trade in range until market gets more clarity on the new Joe Biden-administration's policies
Low interest rate is also making gold an attractive bet. We might see inflation coming up in 2021 so that will also be another positive factor for gold
With fresh lockdown from the UK and more lockdown appearing in European countries, demand for crude is likely to take hit during Christmas season
It seems that a near term top has been established in aluminum and we might see pullback till levels of 158 before uptrend resumes
Progress toward vaccines and easing US political uncertainty helped lift an MSCI index of world stocks to its best month ever in November while driving down the dollar
Gold made 'Hammer' candlestick in the month of November after slipping 5.4 per cent and has now bounced back