Gold prices posted a mild rebound in Asia on Thursday with investors seeing some bargains on the physical side after a steady drop over the past week. On the Comex division of the New York Mercantile Exchange, gold for August delivery rose 0.14% to $1,093.00 a troy ounce. The National Association of Realtors said in a monthly report on Wednesday that existing home sales in June increased 3.2% on a month-to-month basis to an annual rate of 5.49 million units, its highest level since February, 2007. Analysts expected existing home sales to rise to 5.40 million on the month.

Base metal prices on the SHFE are expected to extend losses on Jul. 23, Shanghai Metals Market foresees. US FHFA’s house price index for May grew 0.4% MoM with April’s 0.3% and rose 5.7% YoY with previous value of 5.3%. June’s annualized number of existing home sales came in at 5.49 million with May’s 5.32 million, hitting a fresh high since February 2007. Those upbeat data from US supported dollar to end up 0.07% to 97.42. The market lacked solid macroeconomic news last evening. But falling commodity prices weighed down base metals. LME copper price closed down USD 97/mt or 1.78% at USD 5,456/mt.

CS CRUDE OIL (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:3275
RESIST 1:3240
SUP1:3180
SUP2:3120
STRATEGY: SELL ON RISE

CS NATURAL GAS (JUNE) OVERVIEW:

TREND :BEARISH
RESIST 2:189
RESIST 1:186
SUP1: 182
SUP2:180
STRATEGY: SELL ON RISE

BASE METAL

CS COPPER (JUNE ) OVERVIEW:

TREND :BEARISH
RESIST 2:353
RESIST 1:350
SUP1:343
SUP2:340
STRATEGY: SELL ON RISE