COMMODITY NEWS
Gold and silver didn’t show any volatility today. The movement was very less and there was no buying and selling seen on bulk basis. Gold as usual gave a strong close and it closed above 26650. Silver too showed some positivity and closed above its previous close.
Crude oil gave a good close when it closed at 4240 mark it is the effect of increase in price of oil in world market and thus it moved and broke its resistance of 4210.
COMMODITY TRADING LEVELS FOR 12th 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: R1-4250 R2 – 4280
SUPPORTS: S1-4210 S2 - 4170
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 53269.00.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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