COMMODITY NEWS & tips
BEAR DOMINATED THE RALLY AND ALL THE BASE AS WELL AS PRECIOUS METALS GAVE A BEARISH TREND AND SETTLED WELL BELOW THE OPENING. CRUDE OIL WAS ON THE BULLISH RIDE AND SET UP FOR THE NEW HIGH HOPING PRECIOUS METALS TO PERFORM BULLISH TODAY WE SET FOR METALS TO PERFORM ON HIGH NODE.
COMMODITY TRADING LEVELS FOR 30th 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: R1-5210 R2 – 5235
SUPPORTS: S1-5150 S2 - 5080
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: S1-28350 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: R1-55500 R2-55850
SUPPORTS: S1-54650 S2-54400
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