BULIONS & ENERGY LEVELS FOR 31 MAY 2016

Bullions: Gold trade higher in early trade on Tuesday, after falling to a 3 month low in the previous session, but bullion remained on track for its biggest monthly decline since November. Yesterdays silver level not executed.

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	28600	28700	28980	29100	Down	28400-28970
Silver	37900	38250	38900	39300	Sideways	38200-38900

Energy: Prices continue to trade near $50 price level but find the resistance hard to breach. Although WTI and Brent oil did move above the $50 price last week it as only for a brief period of time. Traders remain focused on 02 June Thursday’s Producers Meeting.

OUTLOOK: BUY CRUDEOIL JUN BETWEEN 3330-3340 TGT 3400-3460 SL 3270

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	3270	3330	3386	3430	Bullish	3320-3450

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

Weekly Commodity Report 30May 2016 to 3 June2016

Weekly Support & Resistance for GOLD

Resistance: 29460-29800

Pivot: 29,064.0

Support: 28400-28000 

Last week gold traded in negative as all the US economic data were positive which raised the hope of rake hike by Fed in this upcoming month of June. As a result dollar index rose above 95 which drag the prices of precious metal. Market participants currently see a 26-percent chance of a June rise, with 56 percent expecting it in July

In MCX trading range of Gold was 28600-29400.Next week may see some sideways price action in precious metal prices.

 

Silver : In MCX silver prices also fall and trade in the range of 38800-39700.Bounce can be expected in silver prices if hold level of 39300 further rise till 39700-39800 possible. Below 38700 levels of 38200-38000 expected.

BULIONS & ENERGY LEVELS FOR 27 MAY 2016

OUTLOOK: SELL GOLD BETWEEN 28870-28900 TGT 28600-28400 SL 29070 Bullions: After positive economic data like US jobless claims data there was sharp selloff in precious metal which can continue today also. Data gives room to Fed to increase interest rates in June. Gold remained on track for its biggest weekly decline.

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	28350	28500	28900	29050	Bearish	28400-29970
Silver	38400	38700	39500	39900	Bearish	38200-39200

Energy: Oil futures fell further in Asian trade on Friday after running into resistance at the $50 a barrel mark, as investors worried higher prices could reactivate shuttered crude output, adding to global oversupply. Prices were also pressured by a stronger dollar index (DXY) rising against a basket of major currencies on Friday.

Yesterday’s Crudeoil buy call open above 3340 and made high 3377 near our TGT 3380

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	3220	3270	3327	3370	Sideways	3270-3350

 

 

 

 

 

BULIONS & ENERGY LEVELS FOR 26 MAY 2016

OUTLOOK: BUY CRUDEOIL JUNE ABOVE 3340 TGT 3380-3430 SL – 3300
Bullions: Gold in MCX  may open higher early on Thursday, but continued to trade near a seven-week low touched in the previous session as positive U.S. economic data boosted expectations the Federal Reserve would raise interest rates sooner rather than later.
Yesterday silver contract open lower and trader near our TGT range.
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COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	28700	28800	28955	29150	UP	28900-29600
Silver	38500	38900	39500	39900	UP	39000-39700

Energy: WTI oil prices are trading higher today NEAR $50 per barrel, while MCX oil prices may open higher tracking global prices. Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in U.S. inventories.

 

 

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	3210	3270	3328	3380	UP	3300-3390

 

 

BULIONS & ENERGY LEVELS FOR 25 MAY 2016

OUTLOOK:  SELL SILVER BETWEEN 39650-39700 TGT 39100-38700 SL 40000

Bullions: Gold prices dips to the lowest in more than four weeks on Tuesday as hawkish comments from Federal Reserve officials in the previous session sent the dollar to a two-month high against a currency basket.

Spot gold XAU= was down 1.5 percent at $1,229.25 an ounce off an earlier low of $1,227.70 International trade.

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	29000	29150	26560	29833	BEARSIH	29000-29600
Silver	39000	39170	39628	39919	SIDEWAYS	39000-39700

 

Energy: US crude oil bounced to the highest level in seven months on Tuesday, as a decline in inventories. Nymex July West Texas Intermediate, the benchmark for light, sweet crude, jumped as much as 2.5 per cent to $49.27 a barrel late in New York, the highest since October 2015. The move came after the American Petroleum Institute reported US crude stocks dropped by 5.1m barrels last week.

 

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	3210	3260	3309	3350	BULLISH	3230-3360