Intraday Market Update-II-14 Jan

XAU/USD

1

XAUUSD has declined by 0.64% today . Earlier today it was rejected by the resistance 1.9523 and started falling. The intraday bias of is bearish as it is rejected by the top of down slope channel timeframe and also SMA50 crossed down SMA200 in hourly.

Trade Suggestion :

Sell below 1079.00 with Stop Loss @1082.00 and Take Profit @1076.50.

XAG/USD

2

Today XAG/USD is wavering within a range in a turbulent way. The silver markets rose drastically during the day on Wednesday and today the reverse is happened.  It is falling drastically after hitting the resistance 14.179. So the intraday bias is neutral in Silver right now. But a sustained move below  13.63 level may initiate a strong break down.

Trade Suggestion:

It is suggested to stay away from current ranging and volatile market of Silver. Sell is recommended below 13.60 with a stop loss @13.75 and take profit @12.60

Crude Oil

3

Crude Oil has been swinging between the level 32.59 and 30.93 since the day before yesterday. So intraday bias in Crude Oil is neutral as market is stable right now.If it break down below the 30.00 level the downward spiral may accelerate. On the other hand break out of 33.00 level may fuel  the current attempt of initiating a rally in oil.

Trade Suggestion:

Sell below 30.00 with Stop Loss @31 and Take Profit @28.40.

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