COMMODITY NEWS
Crude slipped to 101 dollar after the announcement of Greece on deficit. The selling accelerated when US traders arrived at their desks. At 1350 GMT Brent crude futures were down USD 1.71 to USD 101.05 a barrel after hitting an intraday low of USD 100.71. US crude futures were down USD 1.92 to USD 77.28 after falling over USD 2 to USD 76.85.
Gold proved itself to be one of the strongest commodity as it surges again on Monday and closed at 52044.
Silver showed some relief for the traders as it closed in green and was much higher then what it closed on Saturday. It gained almost 900 points on Monday.
COMMODITY TRADING LEVELS FOR 04th OCTOBER 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 340 to 360 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 349.5 R2- 354.50
SUPPORT: S1- 342 S2- 330
CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE: R1-3851 R2 – 3968.5
SUPPORTS: S1-3818 S2 - 3780
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: R1-26750 R2-26950
SUPPORTS: S1-26200 S2-25650
SILVER (Sep) - Silver closed at 52044.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-52350 R2-52850
SUPPORTS: S1-51750 S2-51400
0 comments:
Post a Comment