COMMODITY NEWS
Good day for gold and silver good rallies upward and gave some positivity to the commodity market. Gold and silver both moved with a brisk pace and closed in a strong bullish trend.
Crude oil gave a good close when it closed at 4206 mark it is the effect of increase in price of gold and silver in world market and thus it gave a slight bearish close as the traders were too much interested in precious metal.
COMMODITY TRADING LEVELS FOR 13th 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- 355 S2- 345
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: S1-4190 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: R1-26950 R2-27150
SUPPORTS: S1-26700 S2-26350
SILVER (Sep) - Silver closed at 54162.00.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-54500 R2-54950
SUPPORTS: S1-53750 S2-53350
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