COPPER (FEB) – At MCX, Copper for delivery in February was trading flat. contract is going to expire on 29 FEB 2012, is expected to trade between the broad ranges of 415 to 423 Expected resistance and support level for today trade are as follows:
SUPPORT 1: 417.55
SUPPORT 2: 415.65
RESISTANCE 1: 421.55
RESISTANCE 2: 423.45
CRUDE OIL (JAN) – Crude had edged lower earlier in the day on signs of weakening demand. The International Energy Agency stated on Thursday that it expects world oil demand to edge higher by 1.1 million barrels a day in 2012, which is lower than its previous estimate of 1.3 million barrels a day. MCX Crude oil futures for January tested highs near Rs. 5140 per barrel twice in the last trading session. Expected resistance and support levels for the crude Dec contract with expiry date of 19 JAN 2012 are:
SUPPORT 1: 5015
SUPPORT 2: 4905
RESISTANCE 1: 5215
RESISTANCE 2: 5325
GOLD (FEB) - Resistance and support levels for the today’s session for Gold FEB contract which will expire on 4th FEB 2012 are:
SUPPORT 1: 27385
SUPPORT 2: 27295
RESISTANCE 1: 27610
RESISTANCE 2: 27735
SILVER (MAR) – Silver is Expected resistance and support level for today trade are as follows:
SUPPORT 1: 52280
SUPPORT 2: 51935
RESISTANCE 1: 53525
RESISTANCE 2: 52675
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