BULLION:
Gold dipped in Asia on Wednesday as investors sought the sidelines ahead of next week’s Federal Reserve review of interest rates. On the Comex division of the New York
Mercantile Exchange, gold for June delivery dropped 0.17% to $1,252.20 a troy ounce. With the sharp gains, gold enjoyed its strongest one-day session in more than a
month. Gold is now up nearly 19% since the start of the year and is on pace for one of its strongest opening halves in more than a decade.
Gold dipped in Asia on Wednesday as investors sought the sidelines ahead of next week’s Federal Reserve review of interest rates. On the Comex division of the New York
Mercantile Exchange, gold for June delivery dropped 0.17% to $1,252.20 a troy ounce. With the sharp gains, gold enjoyed its strongest one-day session in more than a
month. Gold is now up nearly 19% since the start of the year and is on pace for one of its strongest opening halves in more than a decade.
BASE METAL:
Copper market advanced with falling dollar and rising oil overnight. Base metals are expected to rise further today. US EIA and API will announce crude oil inventories
today, while existing home sales in March will also be released. Germany’s annualized March PPI is expected to improve, citing better-than-expected March CPI. Better-
than-expected housing starts in February and climbing home prices bode well for US existing home sales in March.
Copper market advanced with falling dollar and rising oil overnight. Base metals are expected to rise further today. US EIA and API will announce crude oil inventories
today, while existing home sales in March will also be released. Germany’s annualized March PPI is expected to improve, citing better-than-expected March CPI. Better-
than-expected housing starts in February and climbing home prices bode well for US existing home sales in March.
ENERGY:
Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed U.S.
stockpiles rose last week. Kuwait Oil Company was forced to cut output to as little as 1.1 million barrels per day (bpd) from a normal level of about 3 million bpd. By
Tuesday, output had recovered to around 1.5 million bpd.
Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed U.S.
stockpiles rose last week. Kuwait Oil Company was forced to cut output to as little as 1.1 million barrels per day (bpd) from a normal level of about 3 million bpd. By
Tuesday, output had recovered to around 1.5 million bpd.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2: 29600
RESIST 1: 29400
SUP 1: 29000
SUP 2: 28830
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2: 29600
RESIST 1: 29400
SUP 1: 29000
SUP 2: 28830
STRATEGY: BUY ON DIPS
CS SILVER (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 41200
RESIST 1: 40600
SUP1: 39340
SUP2: 38560
STRATEGY : BUY ON DIPS
TREND : BULLISH
RESIST 2: 41200
RESIST 1: 40600
SUP1: 39340
SUP2: 38560
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2:2850
RESIST 1:2820
SUP1:2750
SUP2:2700
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2:2850
RESIST 1:2820
SUP1:2750
SUP2:2700
STRATEGY: BUY ON DIPS
CS NATURAL GAS (APRIL) OVERVIEW:
TREND : BULLISH
RESIST 2:143
RESIST 1:140
SUP1:137
SUP2:135
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2:143
RESIST 1:140
SUP1:137
SUP2:135
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (APRIL) OVERVIEW:
TREND : BULLISH
RESIST 2:330
RESIST 1:327
SUP1:320
SUP2:317
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2:330
RESIST 1:327
SUP1:320
SUP2:317
STRATEGY: BUY ON DIPS
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