Gold ended the session lower at $1,406, down $7.89. It has dropped below the 14-DMA indicating potential further downside. A fall below yesterday’s low will extend the decline towards $1,386, followed by $1,370. However, any upside will face resistance at $1,418. The indicators are mixed, signaling no clear trading view. We recommend investors to ‘Sell’ below $1,401.

Positive movement continued for silver as it closed at $15.52, up $0.17. If the gain continues, the likely target will be at $15.86. However, any downside will find support at $15.29. The RSI and the MACD have moved up, supporting a positive view. We recommend investors to ‘Buy on dips’, with risk defined below $15.29.

Downward movement continued for crude oil as it closed at $57.65, a loss of $1.68. Oil has dropped below the 200-DMA and the 14-DMA that will restrict upside in the range of $57.77-$58.47. However, a fall below $57.14 will extend the decline towards $56.08. The RSI and the Stochastic Oscillator are heading down, supporting a negative view. Investors are recommended to ‘Sell on Strength’, keeping stoploss above $58.47.

The USD index extended the gain to close at 96.93, up 0.47 points. The index is expected to target 97.19 where a break above will lead to further gain towards 97.54. However, any downside will find support at 96.52 (200-DMA). The 14-DMA is on the verge crossing above the 200-DMA which is a positive sign. Moreover, the RSI and the MACD are moving up, supporting a positive view. We recommend investors to ‘Buy on dips’, keeping stoploss below the 200-DMA.