COMMODITY NEWS & tips
GOOD TREND WHOLE DAY ALL METALS SPECIALLY PRECIOUS METALS WERE POSITIVE GOOD BUYING WAS SEEN IN COPPER AND CRUDE BUT THE TREND DID NOT CONTINUED LONG AND AT CLOSE ALL THE METALS CLOSED NEAR THE P.CLOSE. GLOBAL TERROR DIDN’T ALLOWED THE TRADERS TO TAKE POSITIONS AND THEY BOOKED SMALL PROFITS.
COMMODITY TRADING LEVELS FOR 29th 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- 389 R2- 392
SUPPORT: S1- 383 S2- 380
CRUDE OIL (DEC) – Expected resistance and support levels for the crude July contract with expiry date of 19 DEC 2011 are:
RESISTANCE: R1-5150 R2 – 5225
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: R1-28850 R2-29200
SUPPORTS: S1-28150 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: R1-55800 R2-56300
SUPPORTS: S1-55000 S2-54400
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