Gold posted a gain of $20.39 to close at $1,426. If the gain continues, the likely target will be in the range of $1,437-$1,440. However, any downside will find support at the 14-DMA that is standing at $1,408. The RSI and the MACD have improved, supporting a positive view. We recommend investors to ‘Buy on dips’, keeping stoploss below the 14-DMA.

Upward movement continued for silver as it closed at $15.94, a gain of $0.42. Silver is expected to target $16.20, which could later extend to $16.44. However, any downside will find support at $15.50. The RSI and the Stochastic Oscillator are heading up, supporting a positive view. Investors are recommended to ‘Buy’ at lower levels, with risk defined below $15.50.

Bears continued to dominate the session as crude oil lost $1.18 to close at $56.47. Oil is trading below the 200-DMA that will restrict upside at $57.68, followed by $58.27 (14-DMA). However, a fall below yesterday’s low will extend the decline towards $54.23. The MACD and the Stochastic Oscillator have continued to decline, supporting a bearish view. We recommend investors to ‘Sell on Strength’, keeping stoploss above the 14-DMA.

The USD index adjusted its previous gains to close at 96.74, down 0.19 points. The index is expected to test support at the 200-DMA standing at 96.53 where a fall below will kick off the downtrend. However, a break above 97.00 will extend the gain towards 97.19, followed by 97.54. The Stochastic Oscillator and the MACD are heading up, supporting a positive view. We recommend investors to ‘Buy on dips’, with risk defined below the 200-DMA.

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