Daily Commodity Market News & Levels-08 July 2016

BULLION:

Gold slipped in Asia on Friday as the market awaited direction from U.S. nonfarm payrolls data. On the Comex division of the New York Mercantile Exchange, Gold for August delivery traded down 0.18% to $1.359.60 a troy ounce. It came one session after Gold surged to a fresh 28-month high amid continuing Brexit-related concerns.

BASE METAL:

LME copper will remain soft and range USD 4,680-4,720/mt during Asian trading hours Friday. US non-farm employment data in June will be released today. Base metals, crude oil and precious metals closed with losses overnight, meaning mounting short momentum. Base metals may extend losses today.  ADP’s employment figures for the US in June and initial jobless claims last week both improved, boding well for US non-farm employment data

ENERGY:

Crude oil held gains in Asia on Friday as investors bought after sharp dips overnight and ahead of U.S. rig count data from Baker Hughes and nonfarm payrolls in the U.S. On the New York Mercantile Exchange, WTI crude for August delivery held gains above 1% and the $45.50 level after closing at $45.17, or 4.79% on Thursday.

BULLION & ENERGY

CS GOLD (AUGUST) OVERVIEW:
TREND : BEARISH
RESIST 2: 32400
RESIST 1: 32100
SUP 1: 31700
SUP 2: 31570
STRATEGY: SELL ON RISE

CS SILVER (SEPTEMBER) OVERVIEW:
TREND : BEARISH
RESIST 2: 48430
RESIST 1: 48000
SUP1: 46440
SUP2: 46250
STRATEGY : SELL ON RISE

CS CRUDE OIL (JULY) OVERVIEW:
TREND :BEARISH
RESIST 2:3200
RESIST 1:3150
SUP1:3030
SUP2:3000
STRATEGY: SELL ON RISE

CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2:192
RESIST 1:190
SUP1:182
SUP2:180
STRATEGY: SELL ON RISE

BASE METAL

CS COPPER (AUGUST) OVERVIEW:                         
TREND :BEARISH
RESIST 2:326
RESIST 1:324
SUP1:317
SUP2:315
STRATEGY: SELL ON RISE

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