30 May 2016

BULLION & ENERGY LEVELS FOR 27 MAY 2016

Bullions: Gold decline further after U.S. Federal Reserve chief Janet Yellen said the central bank could raise interest rates in the coming months. In Morning session dollar hit a one-month high against the yen. Last Friday gold open below our execution level and trade lower.
Outlook: SELL SILVER BETWEEN 38900-38950 TGT 38500-38300 SL 39150
            COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
28358
28480
28781
28960
Bearish
28100-28800
Silver
38720
38575
39069
39273
Bearish
38300-39150

Energy: Oil futures ended lower on Friday, but still posted a third consecutive week of gains amid mounting concerns over global supply disruptions. In the week ahead, oil traders will be focusing on U.S. stockpile data on Wednesday and Thursday for fresh supply-and-demand signals. After sharp rise in prices there may be some price pull back till level 3200 in MCX.

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3250
3280
3330
3355
Sideways
3250-3350


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