Bullions: Gold may open slight positive after overnight losses. The
latest set of U.S. economic data boosted the prospects of an early interest
rate hike by the Federal Reserve. Yesterday US economic data like U.S. manufacturing
grew for a third straight month in May, but factories appeared to be taking in
fewer deliveries from their suppliers, which could hamper production in the
months ahead. Fed prepares the ground for another interest rate hike, most
other central banks are moving in the opposite direction. And the divergence is
widening.
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Gold
|
28700
|
28850
|
29050
|
29200
|
SIDEWAYS
|
28600-28970
|
|
Silver
|
37700
|
38100
|
38900
|
39300
|
SIDEWAYS
|
38150-39000
|
Energy: Crude
futures pared some of its sharp losses as OPEC members worked to revive a
dormant pact aimed at freezing output, shortly after Russia announced that it
will no longer participate in such a deal due to the rising cost of oil.
Crude prices initially fell sharply on Wednesday after
Russian energy officials abandoned plans to take part in a comprehensive
OPEC-Non-OPEC production freeze.
OUTLOOK: SELL CRUDEOIL BELOW 3300 TGT 3260-3240 SL 3337
|
COMMODITY
|
S2
|
S1
|
R1
|
R2
|
TREND
|
RANGE
|
|
Crude oil
|
3200
|
3250
|
3360
|
3410
|
SIDEWAYS
|
3240-3330
|
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