30 June 2016

ENERGY LEVELS FOR 30 JUNE 2016

Energy: Oil prices jumped on Wednesday after the U.S inventory data. Which shows a larger-than-expected weekly drawdown in crude inventories, adding fuel to an existing rally on fading concerns over Britain's exit from the European Union.

In MCX Crude oil July contract trade in the range 3220-3400.


















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3230
3280
3390
3440
SIDEWAYS
3230-3440

29 June 2016

ENERGY LEVELS FOR 29 JUNE 2016

Energy: Oil price gains after stock market recovers from low after shock of Britain's vote to leave the European Union. Prices were also supported by supply fundamentals, as a looming strike by Norwegian oil and gas field workers threatened to cut output from the biggest North Sea producer. In mcx crude oil may open near 3280-3290.

American Petroleum Institute (API) indicated in a preliminary report on Tuesday that crude inventories could have fallen nearly 4 million barrels for the week to June 24, some two-thirds more than the 2.4 million barrels expected by analysts.


















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3200
3230
3330
3400
SIDEWAYS
3200-3400

28 June 2016

ENERGY LEVELS FOR 28 JUNE 2016

Energy: Oil prices dropped in choppy trade on Monday after Brent hitting seven-week lows, as a rallying dollar and market uncertainty over Britain's shocking vote to exit the European Union can have some consumption decline.

















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3110
3200
3266
3300
DOWN
3070-3240


27 June 2016

ENERGY LEVELS FOR 27 JUNE 2016

Energy: Oil prices dropped on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday.
Brent crude futures were down 26 cents at $47.38 a barrel.
















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3150
3200
3296
3350
DOWN
3100-3350

ENERGY LEVELS FOR 27 JUNE 2016

Energy: Oil prices dropped on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday.
Brent crude futures were down 26 cents at $47.38 a barrel.
















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3150
3200
3296
3350
DOWN
3100-3350

ENERGY LEVELS FOR 27 JUNE 2016

Energy: Oil prices dropped on Monday, extending sharp declines after Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday.
Brent crude futures were down 26 cents at $47.38 a barrel.
















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3150
3200
3296
3350
DOWN
3100-3350

25 June 2016

Weekly Commodity Report 27 June 2016 to 01 July 2016

Weekly Support & Resistance for CRUDE OIL  

Resistance: 3370-3450

Pivot: 3200

Support: 3100-3000


CRUDE OIL: After highly observed key event of BREXIT referendum. Commodity market also witness impact on risky asset. Crude oil also follows the track of stock market and decline to level of 3209.


















For next week ahead if crude oil breaks and trades below 3200 next possible TGT would be 3100-3040.


Gold : Gold open on higher note and also registered high of Rs 31900 in MCX AUG contract.Week ahead buying on dips strategy can be used to trade gold with stop loss below 30500. High volume on breakout day also valid breakout.




24 June 2016

ENERGY LEVELS FOR 24 JUNE 2016

Energy: Crude oil may open lower after uncertain UK referendum after majority of votes in favor of exit. On the Intercontinental Exchange (ICE), Brent crude plunged 5.13% to $47.5 a barrel.

















COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3150
3250
3400
3470
DOWN
3100-3350

22 June 2016

BULIONS & ENERGY LEVELS FOR 22 JUNE 2016

Bullions: Gold may trade lower and sideways after yesterday’s fall as dollar index gains and indications that Britain would vote to remain in EU. Spot gold was nearly flat at $1,268.16. 

 
            COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
29980
30100
30400
30500
SIDEWAYS
30000-30500
Silver
40700
41000
41700
42100
SIDEWAYS
41000-41700

 

Energy: Oil futures pulling back from their highest level in more than a week as investors weighed continued uncertainty ahead of the U.K. referendum on European Union membership and its potential impact on energy demand.
The moves came ahead of weekly data that are expected to show a decline in U.S. crude supplies.


















                          OUTLOOK: BUY CRUDEOIL BETWEEN 3300-3310 TGT 3370-3400 SL 3270

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3270
3300
3390
3430
BULLISH
3310-3420