BULLION:
Gold prices rose slightly in early Asia on Wednesday with investors awaiting language from the Federal Reserve on the outlook for interest rates this year and monitoring the latest swings in sentiment for a possible exit of the U.K. from the European Union. On the Comex division of the New York Mercantile Exchange, gold for August delivery edged up 0.05% to $1,288.75 a troy ounce.
BASE METAL:
LME copper will slide to USD 4,510-4,560/mt during Asian
trading hours Wednesday due to firmer dollar and softer crude oil prices. New
York Fed’s manufacturing Index in June and industrial output in May will be
also released today. The US dollar index surged overnight, imposing pressure on
base metals. Base metals are expected to continue diverging today.
ENERGY:
Crude futures fell on Wednesday as mounting concerns about Britain's possible exit from the European Union and a surprise build in U.S. inventories left investors ignoring an IEA declaration that oil markets are now in balance. Data from the American Petroleum Institute showed U.S. crude inventories rose by 1.2 million barrels in the week to June 10 to 536.7 million, compared with analyst expectations for a decrease of 2.3 million barrels.
Crude futures fell on Wednesday as mounting concerns about Britain's possible exit from the European Union and a surprise build in U.S. inventories left investors ignoring an IEA declaration that oil markets are now in balance. Data from the American Petroleum Institute showed U.S. crude inventories rose by 1.2 million barrels in the week to June 10 to 536.7 million, compared with analyst expectations for a decrease of 2.3 million barrels.
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BULLISH
RESIST 2: 30700
RESIST 1: 30580
SUP 1: 30350
SUP 2: 30270
STRATEGY: BUY ON DIPS
RESIST 2: 30700
RESIST 1: 30580
SUP 1: 30350
SUP 2: 30270
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : BULLISH
RESIST 2: 41750
RESIST 1: 41630
SUP1: 41100
SUP2: 40890
STRATEGY : BUY ON DIPS
RESIST 2: 41750
RESIST 1: 41630
SUP1: 41100
SUP2: 40890
STRATEGY : BUY ON DIPS
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:3300
RESIST 1:3280
SUP1:3200
SUP2:3170
STRATEGY: SELL ON RISE
RESIST 2:3300
RESIST 1:3280
SUP1:3200
SUP2:3170
STRATEGY: SELL ON RISE
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BULLISH
RESIST 2:179
RESIST 1:177
SUP1:173
SUP2:171
STRATEGY: BUY ON DIPS
RESIST 2:179
RESIST 1:177
SUP1:173
SUP2:171
STRATEGY: BUY ON DIPS
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:310
RESIST 1:308
SUP1:304
SUP2:302
STRATEGY: SELL ON RISE
RESIST 2:310
RESIST 1:308
SUP1:304
SUP2:302
STRATEGY: SELL ON RISE
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