DAILY COMMODITY MARKET NEWS & LEVELS - 14 JUN 2016

BULLION:
Gold prices dipped in Asia on Tuesday as investors turned cautious after recent gains linked to expectations of steady interest rates in the U.S. and an uncertain outlook for Britain remaining in the European Union. On the Comex division of the New York Mercantile Exchange, Gold for August delivery eased 0.11% to $1,285.45 a troy ounce.

BASE METAL:

SMM survey shows that 40% Chinese copper producers expect LME copper to fall below USD 4,500/mt this week and SHFE 1608 copper to drop below RMB 35,000/mt. LME copper will grow to USD 4,540-4,585/mt during Asian trading hours Tuesday thanks to softer dollar. US retail sales in May and Eurozone April industrial output will be released today. Base metals are expected to diverge today.

ENERGY:
Crude oil prices held weaker in Asia on Tuesday with worries over global demand stoked by a possible exit of the U.K. from the European Union. Commodity traders await a highly-anticipated interest rate decision by the Federal Reserve on Wednesday afternoon. While the FOMC is not expected to raise short-term interest rates at the meeting.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BULLISH
RESIST 2: 30540
RESIST 1: 30480
SUP 1: 30100
SUP 2: 29950
STRATEGY: BUY ON DIPS

CS SILVER (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2: 41750
RESIST 1: 41570
SUP1: 40950
SUP2: 40700
STRATEGY : BUY ON DIPS

CS CRUDE OIL (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:3340
RESIST 1:3310
SUP1:3220
SUP2:3200
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

TREND : BULLISH
RESIST 2:179
RESIST 1:177
SUP1:171
SUP2:168
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:310
RESIST 1:308
SUP1:303
SUP2:301
STRATEGY: SELL ON RISE

     

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