BULLION & ENERGY OUTLOOK & CALL FOR 12 MAY 2016

Bullions: Gold traded at two-week low early on Wednesday, pressured by a firm dollar and equities as robust corporate earnings reports lifted global stocks. Spot gold XAU= was little changed at $1,267 an ounce, after touching a low of $1,257.25 on Tuesday, it’s weakest since April 28.

"OUTLOOK: BUY GOLD BETWEEN 29650-29680 

TGT 29870-29960 SL 29480"

                

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Gold	29494	29639	29896	30008	SIDEWAYS	29600 - 29970
Silver	40502	40670	40957	41076	BULLISH	40800 -40200

Energy: Oil traders moved cautiously in Asia today after the previous day's sharp losses as the threat of wildfires to Canada's crude-producing Alberta region eased. So crude oil may trade sideways around 2900-3000 levels.

COMMODITY	S2	S1	R1	R2	TREND	RANGE
Crude oil	2852	2910	3000	3032	SIDEWAYS	2900-3000