Get Profitable Crude Oli Market News

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Market Outlook
Gold prices were down sharply on Monday, as investors dumped safe-haven assets after results showed centrist candidate Emmanuel Macron won the first round of the French presidential election. Oil prices recovered some lost ground on Monday after big losses last week, driven by expectations that OPEC will extend output cuts till the end of 2017, although a relentless rise in U.S. drilling capped gains. The base metals started to find some strength towards the end of last week but the buyers did not appear to be in any particular hurry, but that may have been due to uncertainty ahead of the French election.

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Fundamental News
U.S. President Donald Trump this week will sign new executive orders before he completes his first 100 days in office, including two on energy and the environment, which would make it easier for the United States to develop energy on and offshore.

U.S. drillers added oil rigs for a 14th week in a row, to 688 rigs, extending an 11-month recovery that is expected to boost U.S. shale production in May by the biggest monthly increase in more than two years.

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Gold showed bearish movement and found the important support level of 28960. Now if it will close below the important support level of 28900 then 28500 will act as next support level. On the other hand 29500 will act as a major resistance level.

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Silver showed bearish movement and found the important support level of 40800. Now if it will close below the important support level of 40500 then 39700 will act as next support level. On the other hand 42000 will act as a major resistance level.

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Crude showed bearish movement and found the important support level of 3176. Now if it will close below the important support level of 3150 then 3100 will act as next support level. On the other hand 3250 will act as a major resistance level.

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Copper showed bullish movement and found the important resistance level of 364.75. Now if it will close above the important resistance level of 365 then 370 will act as next resistance level. On the other hand 355 will act as a major support level.

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