MCX COMMODITY MARKET NEWS & LEVELS - 28 JUN 2016

BULLION:
Gold gained in Asia on Tuesday with investors eyeing a political process in the United Kingdom that could take months to play out before a firm plan for exiting the European Union is put forth. On the Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.25% to $1,328.00 a troy ounce.

BASE METAL:

LME copper will remain at highs of USD 4,680-4,730mt during Asian trading hours Tuesday. Diverging trend is expected for base metals on Tuesday with focus on US Q1 annualized GDP, house price index in 20 cities for April and June Conference Board’s CCI. Markets expect US Q1 annualized GDP to be revised up. US Q1 actual GDP was revised up limitedly, which shows uncertainty in US economic outlook.

ENERGY:
Crude oil prices held gains in Asia on Tuesday with industry data on U.S. stockpiles due later in the day and markets watching an expected long-drawn political process in the U.K. before any Brexit timetable becomes clear. Strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:

TREND : BULLISH
RESIST 2: 31920
RESIST 1: 31750
SUP 1: 31250
SUP 2: 31000
STRATEGY: BUY ON DIPS

CS SILVER (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2: 42670
RESIST 1: 42440
SUP1: 41980
SUP2: 41750
STRATEGY : BUY ON DIPS

CS CRUDE OIL (JULY) OVERVIEW:                      

TREND :BEARISH
RESIST 2:3270
RESIST 1:3240
SUP1:3130
SUP2:3110
STRATEGY: SELL ON RISE

CS NATURAL GAS (JULY) OVERVIEW:

TREND : BULLISH
RESIST 2:192
RESIST 1:190
SUP1:184
SUP2:180
STRATEGY: BUY ON DIPS

BASE METAL   

CS COPPER (AUGUST) OVERVIEW:              

TREND :BULLISH
RESIST 2:330
RESIST 1:328
SUP1:323
SUP2:321
STRATEGY: BUY ON DIPS

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