COMMODITY NEWS & tips
Bulls running the commodity market towards new high. Gold and silver gave a very fine rally uptrend and silver closed well above 57000 mark. Gold too closed above 28800. Dollar getting more and more strength and this gave strength to most of the precious metals. Crude too heading towards new high and hope we can see the new high of 5400 soon.
COMMODITY TRADING LEVELS FOR 23rd 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: R1-5180 R2 – 5220
SUPPORTS: S1-5110 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: R1-28950 R2-29200
SUPPORTS: S1-28500 S2-28150
SILVER (Sep) - Silver closed at 57052.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-57550 R2-57950
SUPPORTS: S1-56500 S2-56000
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