DAILY COMMODITY MARKET NEWS & LEVELS - 20 JUN 2016

BULLION:
Gold eased in Asia on Monday as weekend polls showed momentum building for the "Remain" camp in this week's Brexit vote. Gold for August delivery on the Comex division of the New York Mercantile Exchange fell 0.25% to $1,291.50 a troy ounce. In Japan, the adjusted trade balance came in at ¥270 billion, wider than a surplus of ¥130 billion expected for May.

BASE METAL:

LME copper will range USD 4,540-4,585/mt during Asian trading hours Monday. Manufacturing PMIs from western economies for May will come under the spotlight this week. “Black swan” events may occur, including semiannual financial report by US Fed head Janet Yellen and referendum on UK exit from the EU, which will intensify risk aversion.  

ENERGY:
Oil extended gains in Asian trading on Monday as a weaker dollar and easing worries over Britain's possible exit from the European Union helped support crude. Campaigning for Britain's vote on EU membership resumed on Sunday after a three-day hiatus prompted by the killing of a pro-EU lawmaker. Oil prices continued to recover despite data showing U.S. energy firms adding oil rigs for a third week in a row, suggesting higher production to come.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BEARISH
RESIST 2: 30800
RESIST 1: 30650
SUP 1: 30300
SUP 2: 30100
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

TREND : BEARISH
RESIST 2: 41750
RESIST 1: 41570
SUP1: 40800
SUP2: 40600
STRATEGY : SELL ON RISE

CS CRUDE OIL (JUNE) OVERVIEW:

TREND :BULLISH
RESIST 2:3420
RESIST 1:3370
SUP1:3260
SUP2:3190
STRATEGY: BUY ON DIPS

CS NATURAL GAS (JUNE) OVERVIEW:

TREND : BULLISH
RESIST 2:184
RESIST 1:181
SUP1:176
SUP2:174
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND :SIDEWAYS
RESIST 2:314
RESIST 1:312
SUP1:304
SUP2:300
STRATEGY: SELL ON RISE

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