DAILY COMMODITY MARKET STRATEGY-1 MAY

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BASE METAL WRAP: Copper reached a two-week low in London after manufacturing expanded less than projected in China, the world’s biggest consumer of the metal, casting doubt on the outlook for demand.

ENERGY WRAP: West Texas Intermediate fell to a four-week low after U.S. crude inventories extended a record high. Brent declined amid signs that economic growth slowed in the U.S. and China, the world’s two largest oil consumers.

PRECIOUS METAL WRAP: Gold and silver prices extended losses from the previous session on Thursday, following the Federal Reserve’s decision to taper its monthly bond-buying program by $10 billion for the fourth consecutive meeting.

GLOBAL EVENTS TO WATCH: BOC Gov Poloz Speaks, Manufacturing PMI, Manufacturing PMI, Challenger Job Cuts y/y, Fed Chair Yellen Speaks, Unemployment Claims, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Natural Gas Storage, Total Vehicle Sales.
BULLION COMMODITY
CS COPPER (JUNE) OVERVIEW:
TREND BEARISH
SUP1: 405
SUP2:401
RESIST1:416
RESIST2:422
TRADING STRATEGY: SELL ON RISE
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CS CRUDE (MAY) OVERVIEW:
TREND BEARISH
SUP1:5930
SUP2:5825
RESIST1:6040
RESIST2:6095
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS GOLD (JUNE) OVERVIEW:
TREND CONSOLIDATE
SUP1:28525
SUP2:28260
RESIST1:28880
RESIST2:29150
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927
CS SILVER (JULY) OVERVIEW:
TREND CONSOLIDATE
SUP1:41300
SUP2:39950
RESIST1:42500
RESIST2:43000
TRADING STRATEGY: SELL ON RISE
CAPITALSTARS.COM +919200099927

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