BULLION:
Gold prices eased in Asia on Thursday with attention on the next Federal Reserve review of rates next week. On the Comex division of the New York Mercantile Exchange, gold for June delivery traded down 0.59% to $1,247.00 a troy ounce. Overnight, gold inched up in quiet, restrained trading as investors continued to await next week's interest rate decision by the Federal Reserve for further indications on the path of tightening the U.S. central bank will embark on for the remainder of 2016.
Gold prices eased in Asia on Thursday with attention on the next Federal Reserve review of rates next week. On the Comex division of the New York Mercantile Exchange, gold for June delivery traded down 0.59% to $1,247.00 a troy ounce. Overnight, gold inched up in quiet, restrained trading as investors continued to await next week's interest rate decision by the Federal Reserve for further indications on the path of tightening the U.S. central bank will embark on for the remainder of 2016.
BASE METAL:
Base metals are expected to
diverge today. Philadelphia Fed’s April manufacturing index slated for release
today is expected to improve. US manufacturing appeared to have turned around
over the last months, especially New York Fed’s manufacturing index reported
big growth. The market will focus on European Central Bank’s (ECB) interest
rate decision for April and Mario Dragi’s statement today. The bank is expected
to remain cautious, but will likely hint on further easing measures.
ENERGY:
Crude oil prices rebounded in Asia on Thursday with investors taking a cue from overnight trends. Overnight, crude futures surged to fresh yearly highs on Wednesday, staging a dramatic comeback in U.S. morning trading, as domestic production slumped to an 18-month low and a smaller than expected inventory build last week eased ongoing concerns related to the excessive supply glut on global energy markets.
Crude oil prices rebounded in Asia on Thursday with investors taking a cue from overnight trends. Overnight, crude futures surged to fresh yearly highs on Wednesday, staging a dramatic comeback in U.S. morning trading, as domestic production slumped to an 18-month low and a smaller than expected inventory build last week eased ongoing concerns related to the excessive supply glut on global energy markets.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2: 29600
RESIST 1: 29500
SUP 1: 29140
SUP 2: 29050
STRATEGY: BUY ON DIPS
CS SILVER (MAY) OVERVIEW:
TREND : BULLISHRESIST 2: 41200
RESIST 1: 40600
SUP1: 39850
SUP2: 39600
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:3020
RESIST 1:2980
SUP1:2920
SUP2:2880
STRATEGY: BUY ON DIPS
CS NATURAL GAS (APRIL) OVERVIEW:
TREND : BULLISHRESIST 2:143
RESIST 1:140
SUP1:137
SUP2:135
STRATEGY: BUY ON DIPS
CS COPPER (APRIL) OVERVIEW:
TREND : BULLISHRESIST 2:333
RESIST 1:330
SUP1:326
SUP2:324
STRATEGY: BUY ON DIPS
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