18 May 2016

BULLION & ENERGY LEVELS FOR 18 MAY 2016

Bullion: Gold trade higher in Asian trade today after weak dollar and equities. U.S. gold futures GCcv1 rose 0.27 percent to $1,280.40.US Dollar weakened against the yen on positive Japan economy data.

 Yesterday data showed U.S consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give the Fed ammunition to raise interest rates later this year. Other data showed housing starts and industrial production rebounded strongly last month.
 "BUY SILVER BETWEEN 41100-41120 TGT 41500-41700 SL 40700"


COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
29750
29900
30150
30300
BULLISH
29800-30250
Silver
40500
40800
41450
41900
BULLISH
40650-41650
Energy: Crude oil prices edged higher in Asia in morning after U.S. industry estimates on stocks showed solid draws in refined products, particularly gasoline ahead of the U.S. summer driving season and also US inventory Data week ended.

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3100
3150
3208
3260
BULLISH
3120-3240

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