It was the expiry which showed too much drama copper after losing 2% closed towards upper circuit and all the other precious metals also traded high. Crude too traded with upper trend and made a new high. Overall the commodity market was full of action and whole day it gave rallies.
COMMODITY TRADING LEVELS FOR 1st DECEMBER 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- 417 R2- 421
SUPPORT: S1- 407 S2- 403
CRUDE OIL (DEC) – Expected resistance and support levels for the crude July contract with expiry date of 19 DEC 2011 are:
RESISTANCE: R1-5245 R2 – 5285
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: R1-29200 R2-29350
SUPPORTS: S1-28800 S2-28500
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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