COMMODITY NEWS AND TRADING LEVELS FOR 31th OCTOBER 2011

COMMODITY NEWS & tips

After the eve of Diwali it is expected to see the Gold and Silver to move further up after good buying on the auspicious occasion. Gold and silver already showed what they can do when the market is good as was seen before.

Crude is showing its trend due to the rates of the oil in the world market. It moved from the levels of 4200 to 4600 in just 8 days now it is expected to move in the uptrend.

COMMODITY TRADING LEVELS FOR 31th 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 380 to 410 Expected resistance and support level for today trade are as follows.
RESISTANCE:  R1- 407 R2- 413
SUPPORT:       S1- 390 S2- 382

CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 19 oct 2011 are:
RESISTANCE:  R1-4565 R2 – 4600
SUPPORTS:     S1-4520 S2 - 4470

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:  R1-27650 R2-26950
SUPPORTS:     S1-27450 S2-27100

SILVER (Sep) - Silver closed at 57373.00 .silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE:  R1-57850 R2-58200
SUPPORTS:     S1-56950 S2-56500

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