23 May 2016

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



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