3 June 2016

BULLION & ENERGY LEVELS FOR 03 JUNE 2016

BULLION: Gold may open sideways and trade on weak note. US data like nonfarm payroll increased by 173,000 jobs from April to May. Also number of new applications for jobless claim benefits fell last week which create overhead resistance in gold price at $1220.
            COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
28688
28776
28995
29125
SIDEWAYS
28400-29120
Silver
38300
38400
38700
38900
SIDEWAYS
38300-38900


ENERGY: Oil prices rose on Thursday after data showing a weekly drawdown in U.S. crude stockpiles helped crude markets recover from OPEC's decision not to set a ceiling for its production. Yesterday’s our crude oil sell call achieved 1st TGT 3260 and made low 3242 near our final target and bounce back after us inventory data.



COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3210
3260
3349
3385
SIDEWAYS
3240-3350

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