COMMODITY NEWS & tips
BAD DAY FOR COMMODITY ALL THE METALS AND OIL WERE DOWN AND THERE WAS LESS CHANCE FOR TRADERS IN LOG POSITION TO HOLD THERE POSITIONS. ALMOST WHOLE DAY MARKET WAS DOWN AND AT LAST IT CLOSED WELL IN THE BEARISH TREND.
COMMODITY TRADING LEVELS FOR 2nd DECEMBER 2011
COPPER (FEB) – Copper’s Nov contract which is going to expire on 29 FEB 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- 409 R2- 414
SUPPORT: S1- 400 S2- 397
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 – 5180
SUPPORTS: S1-5080 S2 - 5050
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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