Trading strategies for crude oil and zinc by Tradebulls Securities

Crude oil has breached its range of 3,130-3,230 with volumes

Gold saw its first monthly decline after five positive months. The rise in ISM Manufacturing sentiment has kept gold prices in check and also US Dollar bouncing from oversold levels has given headwinds to gold. On daily chart, gold has immediate support around its 10-day SMA, currently at $1,949. A violation there would expose the 50-day SMA located just below $1,900. On the higher side, $2,000 is the level to beat for the bulls. We might get more direction after Non-Farm payroll data from US this Friday. Till then, expect gold to trade in $50 range. Near-term support in MCX