Bullion: Gold trades higher early on Wednesday after closing up the
previous day for the first time in ten sessions, supported by an easing dollar
and weaker Asian stocks. FUNDAMENTALS * Spot gold had climbed 0.2 percent to
$1217.08 per ounce in morning trade.
OUTLOOK: BUY GOLD ABOVE 28715 TGT
28930-29100 SL 28530
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Gold
|
28650
|
28800
|
29050
|
29150
|
SIDEWAYS
|
28500-29000
|
|
Silver
|
37800
|
38100
|
38700
|
39100
|
SIDEWAYS
|
38200-39000
|
Energy: Crude oil trades sideways after manufacturing data from
China came in mixed as investors look to stocks estimates from the U.S. later
in the day and await the start of an
OPEC meeting in Vienna on Thursday. This
can give direction of production cut or not by OPEC countries.
Yesterdays crude oil buy call made
high 3371 and remains in our recommended range.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Crude oil
|
3230
|
3290
|
3333
|
3380
|
SIDEWAYS
|
3290-3380
|
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