COPPER (APR) – Copper is likely to recoup from earlier losses on FRIDAY, 9th March spurred by the progress over Greece to avert debt default and upbeat data from the US. However, cautious trading prevails as the concerns over the ECB Governing Council meeting due later today. Metal markets were closed for early session of the day on the occasion of Holi festival and opened in the evening session of the day. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 420.25
SUPPORT 2: 418.65
RESISTANCE 1: 425.45
RESISTANCE 2: 427.85
CRUDE OIL (MAR) – Expected resistance and support levels for the crude Dec contract with expiry date of 20 FEB 2012 are:
SUPPORT 1: 5265
SUPPORT 2: 5155
RESISTANCE 1: 5445
RESISTANCE 2: 5535
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. Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27865
SUPPORT 2: 27770
RESISTANCE 1: 28065
RESISTANCE 2: 28155
SILVER (MAY) – Silver MAY contract is expected to find resistance and support levels for today trading session, near the following given levels:
SUPPORT 1: 58625
SUPPORT 2: 58505
RESISTANCE 1: 58885
RESISTANCE 2: 58975
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