BULLION:
Gold eased slightly in Asia on Wednesday with investors cautious ahead of next week's Fed meeting. On the Comex division of the New York Mercantile Exchange, Gold for August delivery eased 0.04% to $1,246.55 a troy ounce. Yellen's comments have done little to sway market sentiments.
Gold eased slightly in Asia on Wednesday with investors cautious ahead of next week's Fed meeting. On the Comex division of the New York Mercantile Exchange, Gold for August delivery eased 0.04% to $1,246.55 a troy ounce. Yellen's comments have done little to sway market sentiments.
BASE METAL:
Declines in LME copper should narrow on Wednesday and
LME copper will fluctuate between USD 4,565-4,610/mt. According to the
preliminary data from the General Administration of Customs, China's imports of
unwrought copper and copper semis were 430,000 mt during May, with YTD imports
from January to May at 2310,000 mt up 22.1 % YoY. China’s Dragon Boat Festival
from June 9-11, base metals are expected to see diverging trade on Wednesday.
ENERGY:
Crude prices rose further in Asia on Wednesday after a solid drop in industry estimates of U.S. crude stocks. The American Petroleum Institute said crude oil stock dropped 3.56 million barrels, largely as expected while distillates stock rose 270,000 barrels and gasoline stock 760,000 barrels. Later Wednesday, the U.S. Department of Energy will release more closely-watched estimates.
Crude prices rose further in Asia on Wednesday after a solid drop in industry estimates of U.S. crude stocks. The American Petroleum Institute said crude oil stock dropped 3.56 million barrels, largely as expected while distillates stock rose 270,000 barrels and gasoline stock 760,000 barrels. Later Wednesday, the U.S. Department of Energy will release more closely-watched estimates.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 29750
RESIST 1: 29650
SUP 1: 29250
SUP 2: 29000
STRATEGY: BUY ON DIPS
RESIST 2: 29750
RESIST 1: 29650
SUP 1: 29250
SUP 2: 29000
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 39440
RESIST 1: 39330
SUP1: 38700
SUP2: 38550
STRATEGY : BUY ON DIPS
RESIST 2: 39440
RESIST 1: 39330
SUP1: 38700
SUP2: 38550
STRATEGY : BUY ON DIPS
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BULLISH
RESIST 2:3450
RESIST 1:3420
SUP1:3300
SUP2:3275
STRATEGY: BUY ON DIPS
RESIST 2:3450
RESIST 1:3420
SUP1:3300
SUP2:3275
STRATEGY: BUY ON DIPS
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:171
RESIST 1:169
SUP1:164
SUP2:161
STRATEGY: BUY ON DIPS
RESIST 2:171
RESIST 1:169
SUP1:164
SUP2:161
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:309
RESIST 1:307
SUP1:301
SUP2:299
STRATEGY: SELL ON RISE
RESIST 2:309
RESIST 1:307
SUP1:301
SUP2:299
STRATEGY: SELL ON RISE
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