DAILY COMMODITY MARKET NEWS & LEVELS - 13 MAY 2016

BULLION:

Gold eased in Asia on Friday ahead of data in the U.S. on retail sales that will drive views on possible next moves by the Federal Reserve on rates. On the Comex division of the New York Mercantile Exchange, gold for June delivery eased 0.19% to $1,268.75 a troy ounce. Overnight, gold inched down on Thursday, amid a slightly appreciating dollar, as investors awaited the release of a wave of key U.S. economic.

BASE METAL:

LME copper will stay weak and range USD 4,620-4,660/mt during Asian trading hours Friday with growing positions. Market will eye US April PPI and retail sales data on Friday. US retail sales are expected to improve in April, mainly because wholesales in March beat February’s levels. US PPI is also likely to improve in April. US import price index, though pointing to limited improvement in April, sent signals of stabilizing inflation.

ENERGY:

Crude oil remained weaker in Asia on Friday as investors look ahead to U.S. rig count data. In its May Oil Market Report, the IEA said world output rose by 50,000 barrels per day on an annual basis last month, sharply below a yearly gain of 3.5 million bpd in April, 2015.

BULLION & ENERGY

CS GOLD (JUNE) OVERVIEW:

TREND : BULLISH
RESIST 2: 30230
RESIST 1: 30100
SUP 1: 29800
SUP 2: 29600
STRATEGY: BUY ON DIPS

CS SILVER (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2: 41680
RESIST 1: 41380
SUP1: 40560
SUP2: 40230
STRATEGY : BUY ON DIPS

CS CRUDE OIL (MAY) OVERVIEW:

TREND : BULLISH
RESIST 2:3180
RESIST 1:3140
SUP1:3050
SUP2:3010
STRATEGY: BUY ON DIPS

CS NATURAL GAS (MAY) OVERVIEW:

TREND : BEARISH
RESIST 2:146
RESIST 1:144
SUP1:140
SUP2:137
STRATEGY: SELL ON RISE

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND : BEARISH
RESIST 2:315
RESIST 1:311
SUP1:306
SUP2:303
STRATEGY: SELL ON RISE

        

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