COMMODITY TRADING LEVELS
COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad range of 399 to 412. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 407 R2- 412
SUPPORT: S1- 404 S2- 399
CRUDE OIL (Sep) – expected resistance and support levels for the crude AUG contract with expiry date of 19 Sep 2011 are:
RESISTANCE: R1-3990 R2 - 4000
SUPPORTS: S1- 3849 S2- 3800
GOLD (Oct) - gold august contract which will expire today has made the high of 27612 amid the weak global cues. Resistance and support levels for the today’s session are:
RESISTANCE: R1- 27700 R2-27800
SUPPORTS: S1-26512 S2-26300
SILVER (Sep) - silver yesterday closed at 59836 after making a high of 63840. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-64232 R2-65859
SUPPORTS: S1-58638 S2-57512
LME DATA ON 24th AUGUST…..
ALUMINIUM: Aluminum LME inventory data declined 7300 points and stood at 4646975.
COPPER: Copper LME inventory data was 463775 decreased by 1250 points.
NICKEL: LME inventory data of Nickel stood 103926 increased by 660 points.
LEAD: Lead LME inventory data decreased by approx 725 points and stood at 315025.
ZINC: Zinc LME inventory data stood at 866300, 3025 less than the previous data.
TIN: TIN LME inventory data rested at 22430 declined by 65 points.
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