COMMODITY NEWS AND TRADING LEVELS FOR 7TH MARCH 2012

COPPER (FEB) –  Expected resistance and support level for today trade are as follows:

SUPPORT 1: 431.25

SUPPORT 2: 428.65

RESISTANCE 1: 435.45

RESISTANCE 2: 437.85

CRUDE OIL (FEB) – Crude oil futures slipped yet again today, giving up on global growth fears amid a selloff in world equity markets. After weak Chinese, European and US data yesterday, the sentiments in global risky assets were mostly weak and US dollar rallied to a nearly three week high around 1.3100 against the Euro, hurting appetite for commodities. Expected resistance and support levels for the crude Dec contract with expiry date of 20 FEB 2012 are:

SUPPORT 1: 5275

SUPPORT 2: 5165

RESIST 1: 5395

RESIST 2: 5475

GOLD (APR) - Gold futures tumbled to six week lows in electronic moves today, getting hammered on dollar strength and global sell off as weak economic data hurt sentiments. Traders are awaiting further clarity on the Greece debt issue. Private holders of €206bn in Greek bonds have until Thursday evening to decide whether to participate in a bond swap where they would trade in their current bonds for a package of new bonds and cash that would knock about €100bn off of Athens' debt pile. Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5^th APR 2012 are:

SUPPORT 1: 27755

SUPPORT 2: 27685

RESISTANCE 1: 27945

RESISTANCE 2: 28095

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: 57815

SUPPORT 2: 57700

RESISTANCE 1: 57805

RESISTANCE 2: 57925


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