BULIONS & ENERGY LEVELS FOR 23 MAY 2016

Bullions: Gold trades near three-week lows early Monday on firmer Asian stocks and growing expectations that the U.S. Federal Reserve will hike interest rates as early as June.  Spot gold trading near three-week lows after declining for three days in a row. The metal fell 1.7 percent last week, marking its biggest weekly decline in two months.

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	29350	29500	29800	29950	SIDEWAYS	29400-29900
Silver	39000	39400	40100	40500	SIDEWAYS	39400-40200

 Energy: Oil futures ended lower on Friday, but still posted a second consecutive week of gains amid mounting concerns over global supply disruptions. Next week ahead, oil traders will be focusing on U.S. stockpile data on Tuesday and Wednesday for fresh supply-and-demand signals.

OUTLOOK: Buy June Crude Oil between 3210 – 3215, SL – 3180, Target – 3280/ 3320

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	3170	3230	3330	3390	BULLISH	3200-3280