BULLION:
Gold prices reversed course in Asia on Friday and fell as consumer prices in Japan came in a bit better than expected on the core measure and investors look ahead to Fed Chair Janet Yellen for direction on U.S. interest rates. On the Comex division of the New York Mercantile Exchange, gold for June delivery eased 0.37% to $1,215.85 a troy ounce.
Gold prices reversed course in Asia on Friday and fell as consumer prices in Japan came in a bit better than expected on the core measure and investors look ahead to Fed Chair Janet Yellen for direction on U.S. interest rates. On the Comex division of the New York Mercantile Exchange, gold for June delivery eased 0.37% to $1,215.85 a troy ounce.
BASE METAL:
LME copper will widely range USD 4,650-4,700/mt during Asian trading hours Friday. Base metals will lack ability to rise today. Value added at China’s large industrials is expected to grow in April as declines in profit at China’s SOEs narrowed further in April, but increase will slow compared with March. The figure due for release today should boost the market. Minmetals Resources Copper Company’s 100,000-tpy copper project is expected to yield its first refined copper output in June.
LME copper will widely range USD 4,650-4,700/mt during Asian trading hours Friday. Base metals will lack ability to rise today. Value added at China’s large industrials is expected to grow in April as declines in profit at China’s SOEs narrowed further in April, but increase will slow compared with March. The figure due for release today should boost the market. Minmetals Resources Copper Company’s 100,000-tpy copper project is expected to yield its first refined copper output in June.
ENERGY:
Crude oil drifted lower in Asia on Friday ahead of the long Memorial Day weekend in the U.S. as investors stay cautious ahead of next week’s OPEC meeting in Vienna and U.S. rig count data from Baker Hughes later in the day. Overnight, crude futures cleared the $50 hurdle for the first time since October on Thursday, before falling back to close slightly lower for the session, as investors responded to reports of further supply disruptions in Nigeria and growing Asian demand for Saudi Arabian oil.
Crude oil drifted lower in Asia on Friday ahead of the long Memorial Day weekend in the U.S. as investors stay cautious ahead of next week’s OPEC meeting in Vienna and U.S. rig count data from Baker Hughes later in the day. Overnight, crude futures cleared the $50 hurdle for the first time since October on Thursday, before falling back to close slightly lower for the session, as investors responded to reports of further supply disruptions in Nigeria and growing Asian demand for Saudi Arabian oil.
BULLION & ENERGY
CS GOLD (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2: 29200
RESIST 1: 28980
SUP 1: 28400
SUP 2: 28270
STRATEGY: SELL ON RISE
TREND : BEARISH
RESIST 2: 29200
RESIST 1: 28980
SUP 1: 28400
SUP 2: 28270
STRATEGY: SELL ON RISE
CS SILVER (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 39670
RESIST 1: 39380
SUP1: 38500
SUP2: 38160
STRATEGY : SELL ON RISE
TREND : BEARISH
RESIST 2: 39670
RESIST 1: 39380
SUP1: 38500
SUP2: 38160
STRATEGY : SELL ON RISE
CS CRUDE OIL (JUNE) OVERVIEW:
TREND :BEARISH
RESIST 2:3380
RESIST 1:3350
SUP1:3270
SUP2:3230
STRATEGY: SELL ON RISE
TREND :BEARISH
RESIST 2:3380
RESIST 1:3350
SUP1:3270
SUP2:3230
STRATEGY: SELL ON RISE
CS NATURAL GAS (JUNE) OVERVIEW:
TREND : BEARISH
RESIST 2:152
RESIST 1:150
SUP1:143
SUP2:141
STRATEGY: SELL ON RISE
TREND : BEARISH
RESIST 2:152
RESIST 1:150
SUP1:143
SUP2:141
STRATEGY: SELL ON RISE
BASE METAL
CS COPPER (JUNE) OVERVIEW:
TREND :BULLISH
RESIST 2:320
RESIST 1:318
SUP1:313
SUP2:311
STRATEGY: BUY ON DIPS
TREND :BULLISH
RESIST 2:320
RESIST 1:318
SUP1:313
SUP2:311
STRATEGY: BUY ON DIPS
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