6 June 2016

BULLION & ENERGY LEVELS FOR 06 JUNE 2016

Bullion: On Friday Gold price saw sharp pull back from recent lows after weak U.S. employment data, which can sharply cut the chance of a near-term U.S rate hike. Market will be looking for signals from Fed chair Janet Yellen this week about the U.S. central bank's next rate move. At an event on Monday in Philadelphia, Yellen gets her last chance to offer insight into Fed thinking before a media blackout takes effect ahead of the June 14-15 monetary policy meeting.
            COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
28610
28999
29598
29800
SIDEWAYS
28600-29500
Silver
38180
38630
39410
39740
UP
38500-39500


Energy: Oil futures ended lower on Friday, after data showed the U.S oil rig count rose the first time in 11 weeks last week, underlining concerns over growing supplies. In the week ahead, oil traders will be focusing on U.S. stockpile data on Tuesday and Wednesday for fresh supply-and-demand signals. In MCX crude oil is trading in sideways band of price range 3220-3335. Any move outside this range with volume can give trading opportunities.



COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
3190
3222
3305
3356
SIDEWAYS
3250-3356

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