COMMODITY NEWS AND TRADING LEVELS FOR 3rd NOVEMBER 2011


COMMODITY NEWS & tips

GOLD AND SILVER CHEERED AGAIN AFTER A HEAVY SWING HERE ON WEDNESDAY THERE WAS A PANIC AMONG THE TRADERS AND INVESTORS AND THERE WAS A SHORT POSITION ON HIGHER SIDE BUT BOTH THESE METALS OUT PERFORMED AND RIDE ON BULL.

CRUDE TOO WAS ON HIGHER SIDE AND GAVE A VERY BULLISH TREND AND AT LAST SETTELED AT 4541. IT MADE A DAY HIGH OF 4606 AND DAY LOW OF 4498.

COMMODITY TRADING LEVELS FOR 3rd NOVEMBER 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- 395 R2- 399
SUPPORT:       S1- 383 S2- 379

CRUDE OIL (Jul) – Expected resistance and support levels for the crude July contract with expiry date of 17 oct 2011 are:
RESISTANCE:  R1-4577 R2 – 4615
SUPPORTS:     S1-4538 S2 - 4500

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:     S1-27150 S2-26850

SILVER (Sep) - Silver closed at 56108.00.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE:  R1-56450 R2-56950
SUPPORTS:     S1-55500 S2-55050

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