" SELL CRUDEOIL B/W 2940-2950 TGT 2880-2850 SL 2990"
Energy: Oil prices fell early on Tuesday in international market as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong US dollar weighed on markets. US crude futures were trading at USD 43.09 per barrel at 0040 GMT, down 35 cents from their last settlement.
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
Crude
oil
|
2820
|
2870
|
2940
|
2990
|
BEARISH
|
2850-3000
|
Bullions: Gold
fell more than 1 percent on Monday as the strengthening dollar and shift
towards equities. Failure to break back above $1,300 after weaker than expected
U.S. jobs report on Friday is also leading some investors to cash in gold gains.
Rising rates tend to weigh on gold because they lift the opportunity cost of
holding non-yielding bullion while boosting the dollar, in which it is priced.
Gold has rallied 20 percent this year as expectations for a near-term Fed hike
faded.
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
Gold
|
29500
|
29680
|
29950
|
30050
|
BEARISH
|
29600 - 30000
|
Silver
|
40000
|
40400
|
41100
|
41500
|
SIDEWAYS
|
40500 -41400
|
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