DAILY COMMODITY MARKET NEWS & LEVELS - 10 JUN 2016

BULLION:
Gold dipped in Asia on Friday as investors booked profits off an overnight gain with sentiment for the yellow metal holding solid as the market discounts a rate hike by the Federal Reserve next week. On the Comex division of the New York Mercantile Exchange, Gold for August delivery eased 0.29% to $1,269.00 a troy ounce.

BASE METAL:

Copper dipped 11 points to 2.0510 as the greenback recovered and lackluster Chinese consumer inflation data stressed commodities traders. Copper was hammered down as a rise in warehouse stocks convinced traders that end-demand in China has not materially improved despite Beijing's economic stimulus. The latest leg down came as LME data showed more than 42,000 tones’ of copper arrived in warehouses.

ENERGY:
Crude oil prices held weaker in Asia on Friday, but conflict in Nigeria's oil production region offered some support. Overnight, crude futures retreated from 11-month highs on Thursday, taking a pause from the massive rally over the last several months, amid heavy profit from speculators throughout global energy markets.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BULLISH
RESIST 2: 30200
RESIST 1: 30000
SUP 1: 29650
SUP 2: 29500
STRATEGY: BUY ON DIPS

CS SILVER (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2: 41700
RESIST 1: 41200
SUP1: 40320
SUP2: 39900
STRATEGY : BUY ON DIPS

CS CRUDE OIL (JUNE) OVERVIEW:

TREND :BULLISH
RESIST 2:3470
RESIST 1:3430
SUP1:3350
SUP2:3310
STRATEGY: BUY ON DIPS

CS NATURAL GAS (JUNE) OVERVIEW:

TREND : BULLISH
RESIST 2:178
RESIST 1:175
SUP1:164
SUP2:162
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:306
RESIST 1:304
SUP1:299
SUP2:295
STRATEGY: SELL ON RISE

     

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