COMMODITY NEWS
Gold and silver were in very uncertain condition and no one was able to predict its movement. It made people bear too much looses as when trader short silver it made highs and on buying made lows thus every trader lost money.
crude gained after it stopped to fall in the world market. uncertainty in the gold and silver led trader to trade in crude oil and thus crude came up strongly at the end of the week.
COMMODITY TRADING LEVELS FOR 10th 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 350 to 370 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 366.50 R2- 372.20
SUPPORT: S1- 348 S2- 340.50
CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE: R1-4085 R2 – 4095
SUPPORTS: S1-4065 S2 - 4020
GOLD (dec) - Gold august contract which will expire on 5th Dec 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: R1-26700 R2-26950
SUPPORTS: S1-26050 S2-25650
SILVER (Sep) - Silver closed at 52297.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-52650 R2-52950
SUPPORTS: S1-51950 S2-51650
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