Market Commentaries Energy & Precious Metals 6/11/2017
Market Commentaries Energy & Precious Metals 6/11/2017
For the 24 hours to 23:00 GMT, Gold declined 0.63% against the USD and closed
at $1269.90 per ounce on Friday, amid strength in the US Dollar.
In the Asian session, at GMT0400, the pair is trading at USD1269.90 per ounce,
with Gold trading flat from Friday’s close.
The pair is expected to find support at 1263.46, and a fall through could take it to
the next support level of 1257.03. The pair is expected to find its first resistance
at 1278.76, and a rise through could take it to the next resistance level of 1287.63.
Result
The Gold is trading below its 20 Hr and 50 Hr moving averages.
For the 24 hours to 23:00 GMT, Silver declined 1.63% against the USD and closed
at $16.85 per ounce on Friday, tracking losses in safe-haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at USD16.86 per ounce, with
Silver trading 0.06% higher from Friday’s close.
The pair is expected to find support at 16.68, and a fall through could take it to
the next support level of 16.51. The pair is expected to find its first resistance at
17.11, and a rise through could take it to the next resistance level of 17.36.
Result
The white metal is trading below with its 20 Hr and 50 Hr moving averages.
Crude Oil: Oil Trading Firer In The Morning Session:
For the 24 hours to 23:00 GMT, Crude Oil rose 1.44% against the USD and closed
at USD55.66 per barrel on Friday, after Baker Hughes reported that US crude oil
rigs fell by 8 to 729 in the week ended 03 November.
In the Asian session, at GMT0400, the pair is trading at USD55.74 per barrel, with
Crude Oil trading 0.14% higher from Friday’s close, as Saudi Arabia’s Crown
Prince, Mohammed bin Salman, strengthened his power through an anti-
corruption crackdown in the Kingdom.
The pair is expected to find support at 54.80, and a fall through could take it to
the next support level of 53.86. The pair is expected to find its first resistance at
56.28, and a rise through could take it to the next resistance level of 56.82.
Result
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
DISCLAIMER : CMM Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. CMM assumes no responsibility or liability from gains or losses incurred by the information herein contained.
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