Market
Wrap
- Gold slide below 1500$ mark
- Natural gas rose to a 20-month high
- Crude oil plunged below 91$
- Silver down trend continues sliding below 26$
- Base metals tumbles on Friday
Gold, which
plunged into a bear market last week, extended losses to the lowest level since
May 2011 on expectations that demand for haven assets will contract as the
global economy improves. Prices slumped 5 percent on April 12, taking losses to
more than 20 percent since the record close in 2011, and meeting the common
definition of a bear market. Bullion has plunged 11 percent in 2013, after a
run of 12 annual gains, as data showed that the global economy was improving,
prompting investors to sell holdings in exchange- traded products at a record
pace. Crude oil fell for a third day amid concern economic growth will slow,
curbing fuel consumption. Oil supply would exceed demand without production
cuts by OPEC, according to Iran.
GOLD(APR)
Trend
• Bearish
Strategy
• Sell on high
Resistance
• R2 - 28750 ; R1 - 28490
support • S1 – 27650 ; S2 – 26800
support • S1 – 27650 ; S2 – 26800
SILVER(MAY)
Trend • Bearish
Trend • Bearish
Strategy
• Sell on high
Resistance •
R2 - 50750 ; R1 - 49870
support • S1 - 47750 ; S2 – 46200
support • S1 - 47750 ; S2 – 46200
LEAD(APR)
Trend
• Consolidate
Strategy
• Sell on high
Resistance •
R2 - 115.5 ; R1 - 112.8
support • S1 - 109.3 ;S2 – 106.5
support • S1 - 109.3 ;S2 – 106.5
ZINC(APR)
Trend
• Consolidate
Strategy
• Sell on high
Resistance •
R2 - 107.3 ; R1 - 104.8
support • S1 - 100.3 ; S2 - 97.5
support • S1 - 100.3 ; S2 - 97.5
Money
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