COMMODITY NEWS & tips
Same trend continues that is bear all around again. Traders were short positions and this was mainly due to rupee getting some strength. All the metals especially precious metal gave a bear trend and crude too showing some slips. The trend was overall bearish and there is some more pressure expected in the commodity market.
COMMODITY TRADING LEVELS FOR 25th 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 370 to 390 Expected resistance and support level for today trade are as follows.
RESISTANCE: R1- 382 R2- 388
SUPPORT: S1- 375 S2- 370
CRUDE OIL (DEC) – Expected resistance and support levels for the crude July contract with expiry date of 19 DEC 2011 are:
RESISTANCE: R1-5110 R2 – 5175
SUPPORTS: S1-5040 S2 - 5000
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: S1-28300 S2-28000
SILVER (Sep) - Silver closed at 57052.silver traded in huge volatility. Expected resistance and support level for today trade are as follows.
RESISTANCE: R1-55750 R2-56250
SUPPORTS: S1-54950 S2-55400
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