BULLION:
Gold posted mild gains in Asia on Friday with inflation data later in the U.S. that could set a firmer tone on the prospects of Federal Reserve rate hikes later this year. On the Comex division of the New York Mercantile Exchange, gold for June delivery rose 0.12% to $1,267.95 a troy ounce. Investors await the release of key U.S. inflation data on Friday for a more accurate gauge of price stability in the world's largest economy.
BASE METAL:
SHFE 1606 copper will bounce back
to RMB 37,100-37,600/mt on Apr. 29 with strengthening of crude oil and ferrous
metal prices. Bases metals will maintain diverging trend on Friday with a big
bag of economic figures coming under spotlight, including annualized Q1 GDP
from euro zone and France, US annualized March price index for PCE, University
of Michigan’s CCI and speeches of US Dallas Federal Reserve Chairman Kaplan.
ENERGY:
Crude oil prices fell in early trading on Friday as a looming rise in Middle East output may drag on the stronger markets seen in April, although falling U.S. production and a weakening dollar are still offering support. Deutsche Bank said that a looming rise in production by members of the OPEC - with climbing Iranian output and following outages in Iraq, Nigeria and the United Arab Emirates - could cap recent oil price rises.
Crude oil prices fell in early trading on Friday as a looming rise in Middle East output may drag on the stronger markets seen in April, although falling U.S. production and a weakening dollar are still offering support. Deutsche Bank said that a looming rise in production by members of the OPEC - with climbing Iranian output and following outages in Iraq, Nigeria and the United Arab Emirates - could cap recent oil price rises.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2: 30150
RESIST 1: 30000
SUP 1: 29470
SUP 2: 29370
STRATEGY: BUY ON DIPS
CS SILVER (MAY) OVERVIEW:
TREND : BULLISHRESIST 2: 42200
RESIST 1: 41900
SUP1: 41000
SUP2: 40700
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:3150
RESIST 1:3100
SUP1:3000
SUP2:2970
STRATEGY: BUY ON DIPS
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISHRESIST 2:145
RESIST 1:142
SUP1:137
SUP2:135
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (APRIL) OVERVIEW:
CS COPPER (APRIL) OVERVIEW:
TREND : BULLISH
RESIST 2:340
RESIST 1:336
SUP1:332
SUP2:330
STRATEGY: BUY ON DIPS
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