26 May 2016

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.
.

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
 
 

No comments:

Post a Comment