Bullion Trend
Today in the afternoon session of the trade we have Euro Zone Economic Sentiment which are expected to decline and hence would support the Precious Metals while in the evening session of the trade we have US Consumer Confidence which is also expected to support the Precious Metals Complex at COMEX. Gold is expected to come under pressure today mainly on the back of rise in risk appetite in the global financial markets which would decrease the safe-haven demand for gold.
Copper Trend
We favour a quiet high probability to broken out the region and trigger rallies towards 429/434 or even more, but it may look for a minor dip before resuming such big rallies. Break below 420 would be a signal of bearishness.
Crude Oil Trend
U.S. refiners and energy companies on Monday began to restore operations disrupted by Hurricane Irene over the weekend. One refinery was heard to have suffered damage to a crude unit due to flooding, while another remained shut, during evening session we expect initial trades may dip towards 3960, that may give a possibility for buyers to get into rally. Any how direct fall below 3910 may trigger fresh liquidation pressure towards 3850/3830.
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