25 May 2016

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