COMMODITY NEWS & TIPS
Gold and silver gave a very bad trend and moved down after the data revealed in USA. Silver gave almost a dip of 2% and gold too moved slightly. Gold is showing some good support at 26700 but no clues for silver.
Crude oil gave a good close when it closed at 4182 mark at one time it was seen that crude may break the level of 4100 but it hold itself and closed at very good position.
COMMODITY TRADING LEVELS FOR 14th 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: R1-4210 R2 – 4250
SUPPORTS: S1-4160 S2 - 4140
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 52914.silver traded in bullish mood with heavy intensity. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-53500 R2-53950
SUPPORTS: S1-52500 S2-52150
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