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
|
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