HIGH LIGHTS:-
Gold prices flit between gains and losses in Asia with nonfarm data eyed.
Crude oil prices gain in Asia on rebound, API data ahead.
LME Copper to Face Downward Pressure.
PRECIOUS METALS:-
Gold prices flitted between small gains and losses in Asia on Tuesday as investors looked to take a breather ahead of nonfarm payroll data from the U.S. at the end of the week that may shed a clearer picture on Fed rate hike prospects this year.Gold futures for December delivery on the Comex division of the New York Mercantile Exchange was quoted up 0.01% to $1,359.75 a troy ounce.
Overnight, gold prices were slightly lower in North American trade on Monday, after data showed that U.S. construction spending fell for a third straight month in June as outlays dropped across the board. The advance read on second quarter GDP showed a 1.2% annualized growth rate, well below expectations for 2.6%, the Commerce Department said on |
PRECIOUS LEVEL
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 32100
RESIST 1: 31700
SUP 1: 31250
SUP 2: 31050
RESIST 2: 32100
RESIST 1: 31700
SUP 1: 31250
SUP 2: 31050
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BULLISH
RESIST 2: 48800
RESIST 1: 48400
SUP1: 47120
SUP2: 46650
RESIST 2: 48800
RESIST 1: 48400
SUP1: 47120
SUP2: 46650
BASE METALS:-
Open Market CommittetLME copper will face downward pressure and range USD 4,850-4,890/mt during Asian trading hours Tuesday.
Market will eye the euro zone’s June PPI, US June PCE price index and personal consumption today.
While the euro zone’s final annual rate of CPI for June was unchanged from forecast and May’s figure, preliminary annual rate of CPI for July hit the biggest growth since January and core inflation well beat forecast. This suggested that Brexit’s impact on the euro zone economy is waning. Hence, the euro zone’s annual rate of PPI will see improvement in June.
Market will eye the euro zone’s June PPI, US June PCE price index and personal consumption today.
While the euro zone’s final annual rate of CPI for June was unchanged from forecast and May’s figure, preliminary annual rate of CPI for July hit the biggest growth since January and core inflation well beat forecast. This suggested that Brexit’s impact on the euro zone economy is waning. Hence, the euro zone’s annual rate of PPI will see improvement in June.
BASE METAL LEVELS
CS COPPER (AUGUST) OVERVIEW:
TREND : BEARISH
RESIST 2:333
RESIST 1:330
SUP1:325
SUP2:323
RESIST 2:333
RESIST 1:330
SUP1:325
SUP2:323
CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2:734
RESIST 1:729
SUP1:710
SUP2:700
RESIST 2:734
RESIST 1:729
SUP1:710
SUP2:700
CS ZINC (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2:153.50
RESIST 1:152.50
SUP1:150.50
SUP2:148.50
RESIST 2:153.50
RESIST 1:152.50
SUP1:150.50
SUP2:148.50
CS LEAD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2:124.00
RESIST 1:123.00
SUP1:121.40
SUP2:120.00
RESIST 2:124.00
RESIST 1:123.00
SUP1:121.40
SUP2:120.00
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2:111.30
RESIST 1:110.50
SUP1:108.90
SUP2:107.90
RESIST 2:111.30
RESIST 1:110.50
SUP1:108.90
SUP2:107.90
ENERGIES:-
Crude oil prices rebounded further in Asia on Tuesday from overnight declines as investors took advantage of sharp dips on global oversupply.
Crude oil for September delivery on the New York Mercantile Exchange rose 0.35% to $40.20 a barrel. Investors are looking ahead to estimates of U.S. crude and refined product stockpiles at the end of last week from the American Petroleum Institute late Tuesday.
Overnight, oil prices fell back towards April lows in North American trade on Monday, reproaching’s bear market territory as signs of increasing production in the U.S. and rising output among members of the Organization of the Petroleum Exporting Countries weighed.
Crude oil for September delivery on the New York Mercantile Exchange rose 0.35% to $40.20 a barrel. Investors are looking ahead to estimates of U.S. crude and refined product stockpiles at the end of last week from the American Petroleum Institute late Tuesday.
Overnight, oil prices fell back towards April lows in North American trade on Monday, reproaching’s bear market territory as signs of increasing production in the U.S. and rising output among members of the Organization of the Petroleum Exporting Countries weighed.
ENERGY LEVELS
CS CRUDE OIL (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:2790
RESIST 1:2760
SUP1:2650
SUP2:2600
RESIST 2:2790
RESIST 1:2760
SUP1:2650
SUP2:2600
CS NATURAL GAS (AUGUST) OVERVIEW:
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