COPPER (FEB) – China's record copper imports during the latter part of 2011 and early 2012 means that copper inventories are now at a position where it could result in lower imports. China is the biggest consumer and importer of copper. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 432.35
SUPPORT 2: 429.85
RESISTANCE 1: 436.45
RESISTANCE 2: 438.85
CRUDE OIL (FEB) – Crude oil prices are also expected to trade higher but sharp gains will be capped if the weekly inventories rise as per expectations. Expected resistance and support levels for the crude Feb contract with expiry date of 19th march 2012 are:
SUPPORT 1: 5190
SUPPORT 2: 5085
RESISTANCE 1: 5395
RESISTANCE 2: 5505
GOLD (APR) - Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27625
SUPPORT 2: 27515
RESISTANCE 1: 27865
RESISTANCE 2: 27985
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: 57675
RESISTANCE 1: 57885
RESISTANCE 2: 58015
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