COMMODITY NEWS
Silver—it was the day when buyers and sellers were in panic situation no one was knowing that when to buy and when to sell. All the resistance and supports were broken and at the end silver again showed the bearish trend.
Gold— gold showed good bounce back on Monday but then again it failed to build up confidence in the buyers as gold again and again broke the low and created very unusual situation among the traders.
COMMODITY TRADING LEVELS FOR 29th September 2011
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- 364.5 R2- 372
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: S1-3970 S2 - 3940
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: R1-26100 R2-26550
SUPPORTS: S1-25300 S2-25050
SILVER (Sep) - silver closed at 50410.silver traded in bearish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-51400 R2-51850
SUPPORTS: S1-49800 S2-49150
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