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(fxcue news) - Indian shares are seen opening a tad lower on Wednesday, tracking weak cues from other Asian markets. Recent buying by FIIs and a sharp fall in oil prices on Tuesday may help limit the downside to some extent as the session progresses. Oil prices traded mixed in Asian trading this morning, after having dropped more than 2 percent in the previous session as top Wall Street banks including Goldman Sachs Group Inc. and Morgan Stanley slashed their price forecasts for next year. Benchmark indexes Sensex and Nifty ended a choppy session marginally higher on Tuesday, while the rupee dropped 5 paise to close at 83.92 against the dollar. Asian markets were broadly lower, and the U.S. dollar held near its lowest in more than a year against a basket of peers while gold eased after climbing on Tuesday, driven by a weaker dollar. U.S. stocks ended little changed overnight as investors weighed geopolitical risks and awaited cues from Nvidia's earnings and a key inflation reading. The Dow finished marginally higher to reach a new record closing high after a measure of U.S. consumer confidence rose to a six-month high in August. The tech-heavy Nasdaq Composite and the S&P 500 both edged up by 0.2 percent. European stocks closed broadly higher on Tuesday even as weak German GDP and consumer confidence readings added to economic woes. The pan European STOXX 600 inched up 0.2 percent. The German DAX rose 0.4 percent and the U.K.'s FTSE 100 added 0.2 percent. France's CAC 40 slipped 0.3 percent after French President Emmanuel Macron refused to name a prime minister from the left-wing New Popular Front alliance (NFP).

Sensex

Sensex

Sensex

Bay Street Seen Opening On Slightly Volatile Note

Eurozone Private Sector Credit Growth Rises In July

Australian Market Notably Lower

Japanese Market Modestly Lower

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Trader

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

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Sensex

Sensex

Sensex

Bay Street Seen Opening On Slightly Volatile Note

Eurozone Private Sector Credit Growth Rises In July

Australian Market Notably Lower

Japanese Market Modestly Lower

Please sign in

Trader

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

Today's gold trading strategy: Short selling near 2630-2628, stop loss at 2636, target at 2620-2610. Suggest buying long at 2610-2612, stop loss at 2505, target at 2620-2625;

Gold first fell close to 2602 or 2594 and bought long, then rose close to 2624 or yesterday's high and sold short. Crude oil still tends to fluctuate mainly today, buying long below 68.8 or yesterday's low, and selling short above yesterday's high or 70.7.

Today, gold is mainly focused on rebound short selling, with a short-term focus on the resistance line of 2628-2633. If it does not break through, short selling can be done. The short-term focus below is on the first-line support of 2600-2595, and it is advisable to buy more lightly.

Short term focus on the resistance line of 70.5-71.0 above crude oil, and short-term focus on the support line of 68.4-67.9 below.

Spot gold is expected to rebound to 2620, short selling with a loss of 2627, short looking at 2606-00, target 2590-86; Short selling at 2631 with a loss of 2638, the target remains the same.

Buy more spot gold for profit and take profit

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