BULLION:
Gold gained in Asia on Monday with key central bank meeting in the week ahead to set the tone. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.29% to $1,233.55 a troy ounce. In the week ahead, investors will also be focusing on the outcome of Wednesday’s Fed meeting for clues on the path of future interest rate increases. On Thursday, the Bank of Japan will announce its latest policy views.
Gold gained in Asia on Monday with key central bank meeting in the week ahead to set the tone. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.29% to $1,233.55 a troy ounce. In the week ahead, investors will also be focusing on the outcome of Wednesday’s Fed meeting for clues on the path of future interest rate increases. On Thursday, the Bank of Japan will announce its latest policy views.
BASE METAL:
LME copper should widely range USD 4,980-5,030/mt during Asian trading hours Monday. Base metals are expected to fluctuate widely at highs this week. Eyes will be on economic figures from China, including profits for large industrial enterprises in March and in the three months to March. The sustainability of rallies in commodity prices will be sensitive to those figures. US Fed will release its April rate meeting minutes on Thursday.
LME copper should widely range USD 4,980-5,030/mt during Asian trading hours Monday. Base metals are expected to fluctuate widely at highs this week. Eyes will be on economic figures from China, including profits for large industrial enterprises in March and in the three months to March. The sustainability of rallies in commodity prices will be sensitive to those figures. US Fed will release its April rate meeting minutes on Thursday.
ENERGY:
Oil prices fell over 1 percent on Monday as traders took profits after three weeks of gains and as a jump in the dollar late last week was priced into fuel markets. Analysts said the price drops were a result of cashing in after three weeks of rising prices. I guess some profit taking after a strong rally into the end of last week, said Virendra Chauhan of Energy Aspects in Singapore.
Oil prices fell over 1 percent on Monday as traders took profits after three weeks of gains and as a jump in the dollar late last week was priced into fuel markets. Analysts said the price drops were a result of cashing in after three weeks of rising prices. I guess some profit taking after a strong rally into the end of last week, said Virendra Chauhan of Energy Aspects in Singapore.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2: 29620
RESIST 1: 29400
SUP 1: 29000
SUP 2: 28800
STRATEGY: SELL ON RISE
TREND : BEARISH
RESIST 2: 29620
RESIST 1: 29400
SUP 1: 29000
SUP 2: 28800
STRATEGY: SELL ON RISE
CS SILVER (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 41400
RESIST 1: 40780
SUP1: 39750
SUP2: 39400
STRATEGY : SELL ON RISE
TREND : BEARISH
RESIST 2: 41400
RESIST 1: 40780
SUP1: 39750
SUP2: 39400
STRATEGY : SELL ON RISE
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2:3020
RESIST 1:2980
SUP1:2880
SUP2:2820
STRATEGY: SELL ON RISE
TREND : BEARISH
RESIST 2:3020
RESIST 1:2980
SUP1:2880
SUP2:2820
STRATEGY: SELL ON RISE
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2:156
RESIST 1:153
SUP1:146
SUP2:144
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2:156
RESIST 1:153
SUP1:146
SUP2:144
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (APRIL) OVERVIEW:
TREND : BULLISH
RESIST 2:339
RESIST 1:336
SUP1:329
SUP2:326
STRATEGY: BUY ON DIPS
TREND : BULLISH
RESIST 2:339
RESIST 1:336
SUP1:329
SUP2:326
STRATEGY: BUY ON DIPS
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