COMMODITY NEWS AND TRADING LEVELS FOR 11th OCTOBER 2011


COMMODITY NEWS

It was a bad day for all the traders especially in gold and silver. The rallies were totally unpredictable silver moved around 52500 to 53500 levels most of the times and no big movement was seen in these two metals in commodities.

Crude however gave a strong bullish trend after it has started on Monday. It was only crude which gave some relief to the traders.

COMMODITY TRADING LEVELS FOR 11th 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- 372.20 R2- 377
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:  R1-4210 R2 – 4250
SUPPORTS:     S1-4150 S2 - 4120
  
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:     S1-26350 S2-25950

SILVER (Sep) - Silver closed at 53028.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE:  R1-53600 R2-54000
SUPPORTS:     S1-52750 S2-52200

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