INTERNATIONAL COMMODITY NEWS :
• Gold prices rose slightly in Asia on Thursday, keeping a handle on events in Iraq after Islamist rebels seized control of two cities in strife that threatens efforts to rebuild the country’s oil industry. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,261.40 a troy ounce, up 0.02%, after hitting an overnight session low of $1,258.00 and off a high of $1,265.30.
• Silver for July delivery rose 0.17% at $19.205 a troy ounce. Copper futures for July delivery rose 0.605 at $3.038 a pound.
• Crude oil prices held flat in Asia on Thursday with the market focused on strife in Iraq. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in July traded at $104.38 a barrel, down 0.02%, after hitting an overnight session low of $104.04 a barrel and a high of $105.05 a barrel.
• The Brent oil contract rose 0.4% to $109.95 a barrel on the ICE Futures Europe exchange on Wednesday.
• Natural gas futures rose on Wednesday after updated weather-forecasting models called for high pressure to edge out a storm system and bring warmer temperatures to the eastern half of the U.S. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.542 per million British thermal units during U.S. trading, up 0.25%. The commodity hit a session high of $4.572 and a low of $4.519. The July contract settled down 2.48% on Tuesday to end at $4.530 per million British thermal units.
TRADING STRATEGY :
COPPER-COMEX has closed @ 3.0355. If it breaks the level of 3.0361, it can touch the level of 3.0261 & 3.0105 respectively. If it sustain above the level of 3.0599, it can touch the level of 3.0699, 3.0755 respectively.
- SELL COPPER-COMEX BELOW 3.0361 TGTS 3.0261, 3.0105 SL 3.0466.
- BUY COPPER-COMEX ABOVE 3.0599 TGTS 3.0699, 3.0755 SL 3.0494.