BULLION:
Gold prices gained slightly in Asia on Tuesday after mixed consumer and producer price data from China. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.04% to $1,267.05 a troy ounce. In China, CPI for April fell 0.2% month-on-month as expected and at a 2.3% pace year-on-year, a tad lower than the 2.4% gain seen. PPI for April year-on-year fell 3.4%, compared to an expected drop of 3.8%.
BASE METAL:
Declines in LME copper should be slower and LME copper will
range USD 4,670-4,715/mt during Asian trading hours Tuesday. Business activity
expectation index under China’s official manufacturing PMI pointed to marked
rise in April. PMI in steel and nonferrous metals industries rose above 50.
Producer purchasing index rose for five months in a row. These data suggest
that YOY decline in China’s PPI will continue narrowing in April.
ENERGY:
NYMEX Crude oil prices eased in Asia on Tuesday with the impact of wildfires in Canada still playing out and as investors look ahead to U.S. industry data on stockpiles, but Brent edged higher. Crude futures fell sharply on Monday, erasing gains from the overnight session, as energy traders reassessed the impact of severe wildfires throughout Western Canada even as officials cautioned that the firestorms could rage on for months.
NYMEX Crude oil prices eased in Asia on Tuesday with the impact of wildfires in Canada still playing out and as investors look ahead to U.S. industry data on stockpiles, but Brent edged higher. Crude futures fell sharply on Monday, erasing gains from the overnight session, as energy traders reassessed the impact of severe wildfires throughout Western Canada even as officials cautioned that the firestorms could rage on for months.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISHRESIST 2: 30400
RESIST 1: 30200
SUP 1: 29650
SUP 2: 29380
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISHRESIST 2: 41850
RESIST 1: 41570
SUP1: 40450
SUP2: 39980
STRATEGY : SELL ON RISE
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BEARISHRESIST 2:3050
RESIST 1:3000
SUP1:2870
SUP2:2810
STRATEGY: SELL ON RISE
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:146
RESIST 1:144
SUP1:139
SUP2:137
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2:322
RESIST 1:318
SUP1:312
SUP2:308
STRATEGY: SELL ON RISE
RESIST 2:322
RESIST 1:318
SUP1:312
SUP2:308
STRATEGY: SELL ON RISE
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