11 May 2016

BULLION & ENERGY OUTLOOK & CALL FOR 12 MAY 2016

Bullions: Gold traded at two-week low early on Wednesday, pressured by a firm dollar and equities as robust corporate earnings reports lifted global stocks. Spot gold XAU= was little changed at $1,267 an ounce, after touching a low of $1,257.25 on Tuesday, it’s weakest since April 28.
"OUTLOOK: BUY GOLD BETWEEN 29650-29680 

TGT 29870-29960 SL 29480"

















                
COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
29494
29639
29896
30008
SIDEWAYS
29600 - 29970
Silver
40502
40670
40957
41076
BULLISH
40800 -40200

Energy: Oil traders moved cautiously in Asia today after the previous day's sharp losses as the threat of wildfires to Canada's crude-producing Alberta region eased. So crude oil may trade sideways around 2900-3000 levels.

COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
2852
2910
3000
3032
SIDEWAYS
2900-3000


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