COMMODITY NEWS & tips
All the markets around the world were negative. Commodity as well as derivative huge swing was seen in all the market. Gold and silver gave a high momentum with unpredictable movements. It was a risky day for the entire trader to enter any trade in gold and silver as movement was large.
Crude too was volatile it closed very close to its open price for the day. These changes were seen in commodity due to Dollar getting strength against Rupee
CRUDE MOVING IN A RANGE BOUND CONDITION BETWEEN 5000-5150 NO HUGE MOVEMENT SEEN IN THIS OIL. IT IS EXPECTED THAT THE OIL WILL MOVE A BIT AND THAN CAN SHOW 5400 SOON.
COMMODITY TRADING LEVELS FOR 22nd 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 400 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 388 R2- 394
SUPPORT: S1- 380.5 S2- 375
CRUDE OIL (DEC) – Expected resistance and support levels for the crude July contract with expiry date of 19 DEC 2011 are:
RESISTANCE: R1-5075 R2 – 5120
SUPPORTS: S1-4990 S2 - 4965
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: R1-28750 R2-29000
SUPPORTS: S1-28150 S2-27950
SILVER (Sep) - Silver closed at 54413.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-54950 R2-55450
SUPPORTS: S1-54000 S2-54850
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