DAILY COMMODITY MARKET NEWS & LEVELS - 17 JUN 2016

BULLION:
Gold soared nearly 2% to hit 22-month highs, as the Bank of Japan and Bank of England followed the lead of the Federal Reserve by standing pat at a pair of closely-watched central bank meetings on Thursday. Brexit vote next week was suspended following the murder on Thursday of UK member of parliament Jo Cox, who was a vocal advocate for Britain to stay in the European Union.

BASE METAL:

LME copper will fall back to USD 4,525-4,585/mt during Asian trading hours Friday.US housing starts and construction permits in May will be announced today. Base metals should remain weak today. The likelihood of a Brexit will leave the market cautious. A few base metals may gain ground. NAHB property market index strengthened in June, also boding well for US real estate outlook.

ENERGY:
Crude oil prices rose in early Asian trade on Friday for the first time in seven days as markets took a breather from concerns about the impact of Britain's possible exit from the European Union. The British pound rose from a two-month low after campaigning for next week's so-called Brexit vote next week was suspended following the murder on Thursday of UK member of parliament Jo Cox, who was a vocal advocate for Britain to stay in the European Union.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BEARISH
RESIST 2: 30680
RESIST 1: 30580
SUP 1: 30300
SUP 2: 30100
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

TREND : BEARISH
RESIST 2: 41750
RESIST 1: 41570
SUP1: 40800
SUP2: 40600
STRATEGY : SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:3240
RESIST 1:3200
SUP1:3100
SUP2:3070
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

TREND : SIDEWAYS
RESIST 2:180
RESIST 1:178
SUP1:171
SUP2:169
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:312
RESIST 1:310
SUP1:304
SUP2:300
STRATEGY: SELL ON RISE

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