DAILY COMMODITY MARKET NEWS & LEVELS - 21 JUN 2016

BULLION:
Gold staged a mild rebound in Asia on Tuesday as investors looked ahead to further remarks on Fed policy this week. On the Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.24% to $1,295.50 a troy ounce. In the euro area, major stock indices soared on Monday as the "Remain" campaign ratcheted up support over the weekend ahead of a controversial referendum later this week.

BASE METAL:

LME copper will remain firm and range USD 4,610-4,660/mt during Asian trading hours Tuesday. Market attention will focus on June ZEW economic sentiment index for Germany and the euro zone today. Base metals on the SHFE rose overnight, except tin. However, most metals met resistance at moving averages. Some base metals are expected to fall back today. 

ENERGY:
Oil prices fell in early Asian trade after a strong two-day rally that was fed by easing concerns Britain would leave the European Union after a referendum this week, allowing market participants to focus on supply issues. Saudi Arabia's crude oil exports also dropped despite high production levels, suggesting demand remains in a deficit to supply.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BEARISH
RESIST 2: 30850
RESIST 1: 30750
SUP 1: 30400
SUP 2: 30250
STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

TREND : BEARISH
RESIST 2: 42530
RESIST 1: 41970
SUP1: 41150
SUP2: 40670
STRATEGY : SELL ON RISE

CS CRUDE OIL (JULY) OVERVIEW:

TREND :BULLISH
RESIST 2:3420
RESIST 1:3400
SUP1:3335
SUP2:3270
STRATEGY: BUY ON DIPS

CS NATURAL GAS (JUNE) OVERVIEW:

TREND : BULLISH
RESIST 2:189
RESIST 1:187
SUP1:182
SUP2:179
STRATEGY: BUY ON DIPS

BASE METAL

CS COPPER (JUNE) OVERVIEW:

TREND :SIDEWAYS
RESIST 2:318
RESIST 1:315
SUP1:308
SUP2:304
STRATEGY: SELL ON RISE

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