Commodities snapshot (precious & industrial)

14 September 2016, 15:19
Eko Rediantoro
0
6

Metal pack is down today. Performance this week at a glance in chart & table -

Gold:

  • Gold is down as risk aversion fades. Today’s range $1322-1332
  • We expect gold to reach $1520
  • Gold is currently trading at $1326/troy ounce. Immediate support lies at $1300 and resistance at $1395 area.

Silver:

  • Silver is much better performer than gold this week. Today’s range $19.3-18.96
  • Active call – Buy Silver @ $16.7 with target around $19 and stop loss at $14.8. Target extended to $26
  • Silver is currently trading at $19.06/troy ounce. Support lies at $18, & resistance at $19, $20.7, $22

Copper:

  • Copper is up once again from support around $2.07 area. Today’s range $2.12-2.095
  • Active call – Sell copper @2.06 and at rallies with targets around $1.75, $1.6/pound with stop loss around $2.4/pound
  • Copper is currently trading at $2.11/pound, immediate support lies at, $2.03 & resistance at  $2.3

 

Gold

-0.16%

Silver

+0.05%

Copper

 +0.96%


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