BULLION:
Gold rose in Asia on Wednesday with investors noting mixed China PMI estimates. On the Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.34% to $1,221.65 a troy ounce. The Caixin manufacturing PMI came in at 49.2, below the 49.3 expected, and down from the previous 49.4.
Gold rose in Asia on Wednesday with investors noting mixed China PMI estimates. On the Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.34% to $1,221.65 a troy ounce. The Caixin manufacturing PMI came in at 49.2, below the 49.3 expected, and down from the previous 49.4.
BASE METAL:
LME copper will suffer pressure from rising dollar and range USD 4,620-4,660/mt during Asian trading hours Wednesday. Manufacturing PMI from major economic will come under the spotlight today. China’s official and Caixin manufacturing PMI for May are expected to hold flat with April’s figure or fall from April. This is mainly because steel prices and nonferrous metals prices fell back from highs in late April.
LME copper will suffer pressure from rising dollar and range USD 4,620-4,660/mt during Asian trading hours Wednesday. Manufacturing PMI from major economic will come under the spotlight today. China’s official and Caixin manufacturing PMI for May are expected to hold flat with April’s figure or fall from April. This is mainly because steel prices and nonferrous metals prices fell back from highs in late April.
ENERGY:
Crude oil held weaker in Asia Wednesday after manufacturing data from China came in mixed as investors look to stocks estimates from the U.S. later in the day and await the start of an OPEC meeting in Vienna on Thursday. The Caixin manufacturing PMI came in at 49.2, below the 49.3 expected, and down from the previous 49.4.
Crude oil held weaker in Asia Wednesday after manufacturing data from China came in mixed as investors look to stocks estimates from the U.S. later in the day and await the start of an OPEC meeting in Vienna on Thursday. The Caixin manufacturing PMI came in at 49.2, below the 49.3 expected, and down from the previous 49.4.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BEARISHRESIST 2: 29200
RESIST 1: 29100
SUP 1: 28760
SUP 2: 28630
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISHRESIST 2: 39000
RESIST 1: 38780
SUP1: 38130
SUP2: 37700
STRATEGY : SELL ON RISE
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BULLISHRESIST 2:3380
RESIST 1:3330
SUP1:3240
SUP2:3210
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2:160
RESIST 1:157
SUP1:146
SUP2:144
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISHRESIST 2:315
RESIST 1:313
SUP1:307
SUP2:305
STRATEGY: SELL ON RISE
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