COMMODITY NEWS AND TRADING LEVELS FOR 05th OCTOBER 2011


COMMODITY NEWS

Gold was not able to resist the Greece woes and fell almost 2.7% it was the major drawback as gold was very strong in spite of silver’s bearish trend

Silver today came down to 50100 almost 4% down no relief for any investor and trader as the down trend continues.

COMMODITY TRADING LEVELS FOR 05th 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- 337.50 S2- 333

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:     S1-3760 S2 - 3740
  
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:  R1-26400 R2-26950
SUPPORTS:     S1-25700 S2-25650

SILVER (Sep) - Silver closed at 50223.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE:  R1-50550 R2-50850
SUPPORTS:     S1-49950 S2-49700

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