BULLION:
Gold posted mild gains in Asia on Wednesday as investors awaited central bank reviews in the U.S. today and Japan on Thursday to set the tone. On the Comex division of the New York Mercantile Exchange, gold for June delivery rose 0.09% to $1,244.55 a troy ounce. Overnight, gold inched up on Tuesday, closing higher for the third straight session, as investors remained cautious ahead of the Federal Reserve's latest interest rate decision following the completion of its two-day April meeting at the middle of this week.
BASE METAL:
LME copper should hold strong and
move between USD 4,950-4,990/mt during Asian trading hours Wednesday. Eyes will
be on US last week’s crude oil inventories and profits for Chinese large
industrial enterprises in March on Wednesday. Profits for Chinese above-scale
industrial enterprises may continue improving in March, which is reflected by
narrowing declines in March PPI and rebounding commodity prices. Growth in fixed-asset
investment and recovery in property market.
ENERGY:
Crude rose in Asia on Wednesday as U.S. industry estimates of stockpiles showed drops that signaled solid demand prospects and investors awaited word from the Federal Reserve on interest rates. Overnight, crude futures surged 2% on Tuesday, amid indications of stronger demand growth in upcoming weeks, ahead of the release of the American Petroleum Institute's weekly inventory report after the close of trading.
Crude rose in Asia on Wednesday as U.S. industry estimates of stockpiles showed drops that signaled solid demand prospects and investors awaited word from the Federal Reserve on interest rates. Overnight, crude futures surged 2% on Tuesday, amid indications of stronger demand growth in upcoming weeks, ahead of the release of the American Petroleum Institute's weekly inventory report after the close of trading.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : SIDEWAYSRESIST 2: 29440
RESIST 1: 29380
SUP 1: 29070
SUP 2: 28960
STRATEGY: SELL ON RISE
CS SILVER (MAY) OVERVIEW:
TREND : BULLISHRESIST 2: 41440
RESIST 1: 40820
SUP1: 40130
SUP2: 39650
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:3050
RESIST 1:3000
SUP1:2890
SUP2:2850
STRATEGY: BUY ON DIPS
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISHRESIST 2:149
RESIST 1:147
SUP1:140
SUP2:137
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (APRIL) OVERVIEW:
TREND : BEARISHRESIST 2:332
RESIST 1:330
SUP1:326
SUP2:324
STRATEGY: SELL ON RISE
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