Commodity Analysis - Gold
Positive European and US data reduced the charm of USD, which stabilized the Gold prices. Below 27000 would act as medium term support. Monarch expects some low volumes trades in the coming sessions.
Outlook for Gold: For the coming week Monarch expects prices might remain in the range between 27200-27860.
Commodity Analysis - Silver
Prices given breakout in its bearish H/S pattern and this has entered the market in the bearish territory. Dollar demand was the main reason behind this fall. Hence overall the picture is bearish but Monarch expects some bounce till 54200 levels.
Commodity Analysis - Crude Oil
Because of the supply issue and positive global data crude prices swelled till 5300 levels. But being a contrarian Monarch expects sooner than latter prices might correct and that too swiftly. But this Monarch's medium term look.
Outlook for Crude Oil: For the coming session, Monarch expect prices might face strong resistance at 5330 levels and potential to fall till 5240.
Source:-http://www.valuenotes.com/Market-Outlook/Gold-prices-might-remain-in-the-range-between-27200-27860/174748
