Bullion:
Gold prices to trade sideways after some pull back in US dollar index. Gold
offs lows of last week and trade near Rs 30000 in MCX. Appetite for gold
appeared to have eased after the metal failed to convincingly breach the $1,300
resistance level last week.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Gold
|
29600
|
29800
|
29935
|
30080
|
SIDEWAYS
|
29700-30080
|
|
Silver
|
40400
|
40800
|
41600
|
41900
|
SIDEWAYS
|
40700-41500
|
Energy:
Oil
prices rallied yesterday after data revealed an unexpected drop in US crude
inventories. The US Department of
Energy (DoE) today said the country's commercial crude stockpiles slid by 3.4
million barrels last week. Analysts' consensus had been for a rise of 750,000
barrels. Crude oil may trade flat to positive on morning session.
"Outlook:
BUY CRUDEOIL BETWEEN 3020-3030 TGT
3090-3140 SL 2990"
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Crude
oil
|
2970
|
3030
|
3080
|
3140
|
BULLISH
|
3020-3150
|
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