BULLION:
Gold held overnight gain in Asia as investors looked ahead to the Wednesday release of Federal Reserve minutes expected to shed some light on prospects for rate hikes this year. On the Comex division of the New York Mercantile Exchange, gold for June delivery rose 0.32% to $1,281.00 a troy ounce. Gold did not immediately react to data from Japan that showed provisional GDP for the first quarter rose 1.7%.
BASE METAL:
SHFE 1607 copper will widely range RMB 35,600-36,000/mt on
May 18 with volatile crude oil prices and US dollar index. Diverging trend is
expected for base metals on Wednesday with eyes on US last week’s crude oil
inventories and euro-zone April CPI. The final reading of annualized April CPI
in euro zone should be negative. Inflation in euro zone shows no sign of upward
momentum, European economists said.
ENERGY:
Crude oil prices edged higher in Asia on Wednesday after U.S. industry estimates on stocks showed solid draws in refined products, particularly gasoline ahead of the U.S. summer driving season, and as investors looked ahead to government figures for confirmation. The American Petroleum Institute said crude oil stock fell 1.14 million barrels at the end of last week, less than the 3 million barrel decline seen.
Crude oil prices edged higher in Asia on Wednesday after U.S. industry estimates on stocks showed solid draws in refined products, particularly gasoline ahead of the U.S. summer driving season, and as investors looked ahead to government figures for confirmation. The American Petroleum Institute said crude oil stock fell 1.14 million barrels at the end of last week, less than the 3 million barrel decline seen.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BULLISHRESIST 2: 30400
RESIST 1: 30260
SUP 1: 29920
SUP 2: 29780
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : BULLISHRESIST 2: 41890
RESIST 1: 41480
SUP1: 40800
SUP2: 40530
STRATEGY : BUY ON DIPS
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISHRESIST 2:3330
RESIST 1:3290
SUP1:3195
SUP2:3150
STRATEGY: BUY ON DIPS
CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISHRESIST 2:142
RESIST 1:139
SUP1:135
SUP2:133
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:315
RESIST 1:313
SUP1:306
SUP2:303
STRATEGY: SELL ON RISE
RESIST 2:315
RESIST 1:313
SUP1:306
SUP2:303
STRATEGY: SELL ON RISE
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