Market Wrap:
·
Gold futures for August delivery fell 1.2
percent
·
dollar jumped as much as 1.1 percent against
·
Crude slide from nine-month high
Gold declined to the lowest in four weeks after the Federal
Reserve Chairman Ben S. Bernanke said the central bank may “moderate” the pace
of U.S. bond purchases later this year. The
dollar jumped as much as 1.1 percent against a basket of major currencies.
GOLD
(AUG)
Trend •
Consolidate
Strategy • Buy on dips
Resistance • R2
- 28480 ; R1 - 28150
support • S1 – 27750 ; S2 – 27480
support • S1 – 27750 ; S2 – 27480
SILVER
(JUL)
Trend • Consolidate
Strategy
• Buy on dips
Resistance •
R2 - 45750; R1 - 44870 support • S1 - 42450; S2 – 41200
COPPER (JUN)
Trend •
Consolidate
Strategy • Sell on high
Resistance • R2
- 425 ; R1 - 416
support • S1 – 403 ; S2 –395
support • S1 – 403 ; S2 –395
CRUDE
(JUNE)
Trend • Consolidate
Strategy
• Buy on dips
Resistance • R2 - 5935; R1 - 5850
support • S1 - 5680; S2 –5590
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