COPPER (FEB) – Base metals were bickering between losses and gains on Monday, 27th February as the key German vote on Greece second bailout package coupled with the US pending home sales data due later today were pressurizing the metals. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 417.55
SUPPORT 2: 414.65
RESISTANCE 1: 422.45
RESISTANCE 2: 425.85
CRUDE OIL (FEB) – Crude oil corrected in electronic trades today, dropping from its nine-month highs as traders covered some profits ahead of a critical German vote on Greece bailout. The commodity had hit a nine-month high last week. The counter dropped as the Euro slipped from highs near 1.3500 against the US dollar yet again. Expected resistance and support levels for the crude Dec contract with expiry date of 20 FEB 2012 are:
SUPPORT 1: 5305
SUPPORT 2: 5215
RESISTANCE 1: 5495
RESISTANCE 2: 5585
GOLD (APR) - Gold dropped as an overwhelming wave of profit selling across risky assets hit the metal. The commodity had rallied to a three month high last week but failed to hold on to the mark as traders eyed a critical German vote on second Greece bailout. Equities dropped while Eurozone government bond auction results were quite good. This turned into a mostly weak environment for gold, Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 28655
SUPPORT 2: 28515
RESISTANCE 1: 28845
RESISTANCE 2: 28935
SILVER (MAR) – Bullish undertone in global bullion prices and plenty of buying support and gains in global equities as helping push the white metal up. Silver is Expected resistance and support levels for today trade are as follows:
SUPPORT 1: 58615
SUPPORT 2: 58535
RESISTANCE 1: 58825
RESISTANCE 2: 58930
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