COMMODITY NEWS
GOLD CAME DOWN DUE TO SPECULATION…
Speculators who pushed up gold prices to record highs have brought the prices down but the yellow metal may begin its comeback sooner rather than later, possibly in the next few days.
COPPER (Nov) – copper’s Nov contract which is going to expire on 30 Nov 2011, is expected to trade between the broad ranges of 350 to 380 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 385 R2- 398
SUPPORT: S1- 345 S2- 335
CRUDE OIL (Jul) – expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE: R1-4040 R2 - 4090
SUPPORTS: S1-3950 S2 - 3920
GOLD (aug) - gold august contract which will expire on 5th Oct 2011.gold is deviating as the US debt default concern made the investors cautious. Resistance and support levels for the today’s session are:
RESISTANCE: R1-26850 R2-26950
SUPPORTS: S1-26500 S2-25150
SILVER (Sep) - silver closed at 53726.silver traded in bearish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-54100 R2-54500
SUPPORTS: S1-53200 S2-52850
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