Daily Archives: May 26, 2014

26May

Comex Commodity Trading Signals and Market News – 26th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices rose in U.S. trading on Friday after upbeat data on new home sales fueled demand for the dollar, which tends to trade inversely with the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at 1,291.60 a troy ounce during U.S. trading, down 0.26%, up from a session low of $1,287.10 and off a high of $1,295.70. The June contract settled up 0.54% at $1,295.00 on Thursday.

Silver comex for July delivery was down 0.60% at $19.403 a troy ounce, while copper futures for July delivery were up 0.65% at $3.162 a pound.

• The ICE Futures Exchange in London, Brent oil futures for July delivery were up 0.16% and trading at US$110.54 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$6.14 a barrel.

Base metals were either consolidating or trading sideways on Friday morning other than aluminium, which was close to one-month highs. He copper price rose $38 from Thursday’s close to $6,913 per tonne. Stocks fell for the 23rd consecutive day, down a net 1,500 tonnes at 1,758,500 tonnes. The aluminium price jumped to $1,824, up $28 and its highest since April 29 – it has recovered from yesterday’s drop close to two-and-a-half month lows of $1,775. Close to 9,000 lots have changed hands so far, outpacing all other contracts. The nickel price was down $128 at $19,647 after stocks climbed 732 tonnes to 280,404 tonnes. The tin price at $23,220 was up $30; stocks were unchanged. The backwardation in the cash/threes spread was last at $35, considerably lower above $100 at the start of the week. Lead rose $23 to $2,150 – there was no change in stocks – and zinc increased $16.50, with stocks and cancelled warrants both down 5,925 tonnes at 728,425 tonnes and 101,625 tonnes respectively.

• Better-than-expected data on U.S. home sales sent oil prices rising on Friday, a day after a solid report on existing home sales painted a picture of a U.S. economy that continues to recover and will demand more fuel and energy going forward. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $104.40 a barrel during U.S. trading, up 0.64%. New York- traded oil futures hit a session low of $103.64 a barrel and a high of $104.50 a barrel. The July contract settled down 0.32% at $103.74 a barrel on Thursday.

• Bargain hunters snapped up nicely-priced natural gas futures on Friday after Thursday’s weekly supply report sent prices down to levels ripe for bottom fishing. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.390 per million British thermal units during U.S. trading, up 0.70%. The commodity hit session high of $4.404 and a low of $4.360. The June contract settled down 2.55% on Thursday to end at $4.359 per million British thermal units.

TRADING STRATEGY :

PLATINUM-COMEX has closed @ 1471.75. If it breaks the level of 1468, it can touch the level of 1460 & 1450 respectively. If it sustain above the level of 1482, it can touch the level of 1490, 1500 respectively.

  • SELL PLATINUM-COMEX BELOW 1468 TGTS 1460, 1450 SL 1480.
  • BUY PLATINUM-COMEX ABOVE 1482 TGTS 1490, 1500 SL 1470.

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

26May
forex-trading3

IForex Market Trading Signals and News of 26 May 2014

TRADING TIPS

➔Forex – GBP/USD falls on upbeat U.S. new home sales numbers
➔Forex – EUR/USD falls on upbeat U.S. housing data
➔Forex – Dollar gains as U.S. new home sales beat expectations

EUR/USD

EUR/USD was down 0.19% at 1.3630, up from a session low of 1.3616 and off a high of 1.3688.The pair was likely to find support at 1.3483, the low from Feb. 6, and resistance at 1.3723, Wednesday’s high.The housing sector,which threw the U.S. economy into the worst downturn since the Great Depression and lagged on its recovery for years, is on the mend.The Census Bureau reported earlier that U.S. new home sales rose 6.4% to 433,000 units in April from 407,000 units in March, whose figure was revised up from a previously estimated 384,000. Analysts had expected new home sales to rise to 425,000 units last month.A day earlier, the National Association of Realtors reported that exis

GBP/USD

GBP/USD was trading at 1.6842, down 0.17%, up from a session low of 1.6830 and off a high of 1.6876.Cable was likely to find support at 1.6802, Tuesday’s low, and resistance at 1.6921, Wednesday’s high.The Census Bureau reported earlier that U.S. new home sales rose 6.4% to 433,000 units in April from 407,000 units in March, whose figure was revised up from a previously estimated 384,000. Analysts had expected new home sales to rise to 425,000 units last month.A day earlier, the National Association of Realtors reported that existing home sales increased 1.3% in April to an annual rate of 4.65 million units, and hopes that the U.S. housing sector is improving strengthened demand for the dollar on Friday.The pound, meanwhile, continued to come under pressure after data on Thursday confirmed that the U.K. economy grew 0.8% in the first quarter of the year from the previous quarter and 3.1% on year, disappointing some market expectations for upward revisions.

RECOMMENDATION:-

1. Buy GBP/USD Above 1.6860- TG: 1.6880/ 1.6910 SL 1.6828
2. Sell GBP/USD Below 1.6800- TG: 1.6780/ 1.6750 SL 1.6830

Fore more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

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