Market Update

Market Watch

Thursday, 12 May 2016

BULLION & ENERGY OUTLOOK & FREE TIPS FOR 12 MAY 2016



Bullion: Gold prices to trade sideways after some pull back in US dollar index. Gold offs lows of last week and trade near Rs 30000 in MCX. Appetite for gold appeared to have eased after the metal failed to convincingly breach the $1,300 resistance level last week. For More Information visit


           
COMMODITY
S2
S1
R1
R2
TREND
RANGE
Gold
29600
29800
29935
30080
SIDEWAYS
29700-30080
Silver
40400
40800
41600
41900
SIDEWAYS
40700-41500

Energy: Oil prices rallied yesterday after data revealed an unexpected drop in US crude inventories. The US Department of Energy (DoE) today said the country's commercial crude stockpiles slid by 3.4 million barrels last week. Analysts' consensus had been for a rise of 750,000 barrels. Crude oil may trade flat to positive on morning session.
"Outlook: BUY CRUDEOIL BETWEEN 3020-3030 TGT 3090-3140 SL 2990"
COMMODITY
S2
S1
R1
R2
TREND
RANGE
Crude oil
2970
3030
3080
3140
BULLISH
3020-3150
          Cruid Oil View
             



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