COMMODITY NEWS & tips
Gold and silver showed some consolidation on Friday as they went upwards at the close. Some buying is seen in gold and silver at this level which resulted in positive trend.
Crude oil gave a good close when it closed at 4180 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 17th 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 360 to 380 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 375 R2- 378.50
SUPPORT: S1- 367.50 S2- 364.50
CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE: R1-4290 R2 – 4325
SUPPORTS: S1-4250 S2 - 4210
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 53405.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: S1-52950 S2-52500
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