- Oil dropped as German manufacturing output unexpectedly contracted
- Natural gas futures slid after trading at an 18-month high
- Copper futures fell for the fourth time in five sessions
- Gold climbed to a three-week high
- Silver futures for May delivery jumped 1.4 percent
- Aluminum, tin and lead dropped. Nickel and zinc gained.
Oil dropped as German manufacturing output unexpectedly
contracted in March, signaling the euro zone debt crisis is slowing growth in
the region’s biggest economy. Crude oil for May delivery declined $1.05 to
settle at $92.45 a barrel on the New York Mercantile Exchange. Natural gas
futures slid after trading at an 18-month high above $4 following a government
report showing that U.S. stockpiles declined by less than expected last week.
Copper futures fell for the fourth time in five sessions on signs of ample
global supplies as a measure of inventory climbed to the highest in nine years.
Technical
View:
GOLD(APR)
Trend
• Consolidate
Strategy
• Buy on dips
Resistance • R2 - 30250 ; R1 - 29950
support • S1 – 29450 ; S2 – 29180
Resistance • R2 - 30250 ; R1 - 29950
support • S1 – 29450 ; S2 – 29180
SILVER(MAY)
Trend • Consolidate
Trend • Consolidate
Strategy • Sell on
high
Resistance • R2 -57750 ; R1
-55870
support • S1 - 53350 ; S2 - 52200
ZINC(APR) :
support • S1 - 53350 ; S2 - 52200
ZINC(APR) :
Trend
• Consolidate
Strategy • Sell on
high
Resistance • R2 -106.8 ; R1
-104.8
support • S1 – 101.3 ; S2 – 98.5
support • S1 – 101.3 ; S2 – 98.5
CRUDE
(APR)
Trend
• Consolidate
Strategy • Sell on
high
Resistance • R2 -5250 ; R1
-5165
support • S1 – 5030 ; S2 – 4950
support • S1 – 5030 ; S2 – 4950
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