COMMODITY NEWS & TIPS
Down swing for Gold Silver and Crude oil. All the three swinged both ways but at the end closed in a bit downtrend. Inspite of good buying in gold in physical market it is not able to hold tight and fell which was expected to rise. Silver tried hard to give a uptrend but was not able to hold and it also fell.
COMMODITY TRADING LEVELS FOR 20th 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- 364.50 R2- 360
SUPPORT: S1- 350 S2- 344.50
CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE: R1-4370 R2 – 4400
SUPPORTS: S1-4320 S2 - 4290
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 S2-26100
SILVER (Sep) - Silver closed at 52228.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-52500 R2-53150
SUPPORTS: S1-52150 S2-51950
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