BULLION:
Gold prices gained further in Asia, crossing the $1,300-level, on Thursday after the Fed held steady as expected and markets noted steady policy by the Bank of Japan. On the Comex division of the New York Mercantile Exchange, gold for August delivery gained 1.21% to $1,303.90 a troy ounce.
BASE METAL:
LME copper will edge up to USD 4,600-4,650/mt during Asian
trading hours Thursday. May CPIs from Europe and the US as well as Philadelphia
Fed’s manufacturing index in June will be released today. The US dollar index
plunged this morning due to Fed’s dovish statement. Base metals rose across the
board on positive macroeconomic news, and should fluctuate at highs today.
ENERGY:
Oil prices held weaker in in Asia on Thursday after data from the U.S. Department of Energy showed a weaker drop in stockpiles than expected and markets viewed remarks from the Fed as downbeat for demand prospects. On Wednesday afternoon, the Federal Open Market (FOMC), as expected, left the target range of its benchmark Federal Funds Rate unchanged at a level between 0.25 and 0.50%. It marked the fourth consecutive meeting the FOMC held rates steady at their current level
Oil prices held weaker in in Asia on Thursday after data from the U.S. Department of Energy showed a weaker drop in stockpiles than expected and markets viewed remarks from the Fed as downbeat for demand prospects. On Wednesday afternoon, the Federal Open Market (FOMC), as expected, left the target range of its benchmark Federal Funds Rate unchanged at a level between 0.25 and 0.50%. It marked the fourth consecutive meeting the FOMC held rates steady at their current level
BULLION & ENERGY
CS GOLD (AUGUST) OVERVIEW:
TREND : BULLISH
RESIST 2: 31200
RESIST 1: 31000
SUP 1: 30400
SUP 2: 30300
STRATEGY: BUY ON DIPS
RESIST 2: 31200
RESIST 1: 31000
SUP 1: 30400
SUP 2: 30300
STRATEGY: BUY ON DIPS
CS SILVER (JULY) OVERVIEW:
TREND : BULLISH
RESIST 2: 42750
RESIST 1: 42400
SUP1: 41600
SUP2: 41400
STRATEGY : BUY ON DIPS
RESIST 2: 42750
RESIST 1: 42400
SUP1: 41600
SUP2: 41400
STRATEGY : BUY ON DIPS
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:3270
RESIST 1:3240
SUP1:3150
SUP2:3100
STRATEGY: SELL ON RISE
RESIST 2:3270
RESIST 1:3240
SUP1:3150
SUP2:3100
STRATEGY: SELL ON RISE
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : SIDEWAYS
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 2:315
RESIST 1:312
SUP1:307
SUP2:305
STRATEGY: SELL ON RISE
RESIST 2:315
RESIST 1:312
SUP1:307
SUP2:305
STRATEGY: SELL ON RISE
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