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Bullion Outlook

* Gold may consolidate in a range ahead of today’s key US PCE price index data. Further, market sentiments improved on better recent earnings coupled with mixed economic data from US

* MCX Gold could move between 59600 and 60300. Only a move below 59600 would weaken the trend towards 59200. On the contrary, above 60300 it would rally towards 60750. The oscillator RSI is hovering near the neutral zone(50) at 52, suggesting a sideways move

* MCX Silver June future is expected consolidate inside 74200- 76000. Close below 74200 would turn the trend weaker towards 73200

Base Metal Outlook

* Copper is expected to find the floor near its four-months low ahead of key US core PCE price index data. Further expectation of recovery in German GDP numbers could support the metal to erase some of its losses

* MCX Copper is expected to rebound towards immediate resistance of 748-750 as the lower Bollinger band could provide floor to the price. Further, a reversal in the oscillator from its oversold zone could bring a relief rally in price

* MCX Aluminium could also find its floor near yesterdays lows and moved back to 209 levels amid depleting inventories in China

Energy Outlook

* Oil prices may face a hurdle near its immediate resistance at 6250 and move in a sideways trend ahead of today’s key economic numbers from Europe and US. The weakness in the oscillator RSI would limit its upside and weaken it towards 6050. Further the drop is backwardation in Brent futures curve to $2 from $4 a barrel on April 12 has eased the worries on tight supply

*Natural gas futures are expected to move inside the range of 185-200. It has to move above the key 20 day EMA at 200 to extend its rally towards 210

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