HIGH LIGHTS:-
Gold gains in Asia with investors on lookout for central bank steps.
Oil prices dip as trader’s cash in on two-week price rally.
LME Copper to Fluctuate in Tight Range.
PRECIOUS METALS:-
Gold gained in early Asia on Tuesday as investors were on the lookout for possible new moves by regional central banks to ease monetary policies in the face of subdued growth prospects.
On the Comex division of the New York Mercantile Exchange, gold for December delivery gained 0.10% to $1,345.90 a troy ounce.Silver futures for September delivery edged up 0.14% to $19.848 a troy ounce. Since surging to fresh 28-month highs in early-July, gold has fallen back approximately $30 an ounce in broad risk-on trade as government bond yields throughout the world linger near all-time record lows. |
PRECIOUS LEVEL
CS GOLD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 31700
RESIST 1: 31550
SUP 1: 31130
SUP 2: 31000
RESIST 2: 31700
RESIST 1: 31550
SUP 1: 31130
SUP 2: 31000
CS SILVER (SEPTEMBER) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 47600
RESIST 1: 47100
SUP1: 46130
SUP2: 45550
RESIST 2: 47600
RESIST 1: 47100
SUP1: 46130
SUP2: 45550
BASE METALS:-
The US dollar index consolidated at lows, while crude oil prices continued to rebound.The ZEW Economic Sentiment for Germany and Europe, Present Situation Index in August and US July inflation, housing and industrial output will be announced today. Base metals mostly strengthened overnight, boosted by a weakening US dollar index and strengthening crude oil, and are expected to diverge today.
The ZEW Economic Sentiment and Present Situation Index for Germany in August may improve now that the country’s manufacturing, inflation and Q2 growth turned around.
US June housing starts, construction permits and new and existing home sales in June were upbeat, boding well for July’s housing data.
The ZEW Economic Sentiment and Present Situation Index for Germany in August may improve now that the country’s manufacturing, inflation and Q2 growth turned around.
US June housing starts, construction permits and new and existing home sales in June were upbeat, boding well for July’s housing data.
BASE METAL LEVELS
CS COPPER (AUGUST) OVERVIEW:
TREND : BEARISH
RESIST 2:324
RESIST 1:321
SUP1:315
SUP2:313
RESIST 2:324
RESIST 1:321
SUP1:315
SUP2:313
CS NICKEL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2:715
RESIST 1:710
SUP1:685
SUP2:680
RESIST 2:715
RESIST 1:710
SUP1:685
SUP2:680
CS ZINC (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:153.00
RESIST 1:152.00
SUP1:149.00
SUP2:148.00
RESIST 2:153.00
RESIST 1:152.00
SUP1:149.00
SUP2:148.00
CS LEAD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2:126.40
RESIST 1:125.60
SUP1:122.00
SUP2:121.00
RESIST 2:126.40
RESIST 1:125.60
SUP1:122.00
SUP2:121.00
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2:113.50
RESIST 1:112.30
SUP1:110.00
SUP2:109.00
RESIST 2:113.50
RESIST 1:112.30
SUP1:110.00
SUP2:109.00
ENERGIES:-
Oil prices edged away from 5-week highs on Tuesday, with traders cashing in on a 16-percent rally since early August that has largely been fueled by talk of producers taking action to prop up the market.
Traders said the price falls were the result of cashing in following more than two weeks of rallying prices.The previous gains had been driven by producer talk of reining in ballooning oversupply.
Crude oil rose to a four-week high as speculation continued to mount that OPEC would discuss a potential cap on production at an upcoming meeting between the members of the group. Russia joined in, saying it was open to such talks as well," ANZ bank said.
Traders said the price falls were the result of cashing in following more than two weeks of rallying prices.The previous gains had been driven by producer talk of reining in ballooning oversupply.
Crude oil rose to a four-week high as speculation continued to mount that OPEC would discuss a potential cap on production at an upcoming meeting between the members of the group. Russia joined in, saying it was open to such talks as well," ANZ bank said.
ENERGY LEVELS
CS CRUDE OIL (AUGUST) OVERVIEW:
TREND :BEARISH
RESIST 2:2890
RESIST 1:2860
SUP1:2740
SUP2:2700
RESIST 2:2890
RESIST 1:2860
SUP1:2740
SUP2:2700
CS NATURAL GAS (AUGUST) OVERVIEW:
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