COPPER (APR) – Chinese imports data came at a suitable time for Copper. The LME Three month forwards ended at $ 8593 per ton, as against $ 8394.5 per ton last week, with gains of 2.4%. LME inventories kept on waning reaching 263825 tons, down 4.4 % in the week. MCX Copper settled at Rs. 432 per kg compared to Rs. 427 per kg at the initiation, up 1.1%.Expected resistance and support level for today trade are as follows:
SUPPORT 1: 430.45
SUPPORT 2: 428.75
RESISTANCE 1: 434.25
RESISTANCE 2: 436.85
CRUDE OIL (MAR) – MCX Crude Oil settled at Rs. 5333 per barrel as against Rs. 5349 per barrel on 9 March 2012. Iranian Oil Minister said that the oil exports were running unchanged from last year. Iran has continued to threaten that if pressure was put on the country it will shut Strait of Hormuz from where a major chunk of world oil is exported. Saudi Arabia reiterated that it will make up for any shortage in global supply. Expected resistance and support levels for the crude Dec contract with expiry date of 19th march 2012 are:
SUPPORT 1: 5290
SUPPORT 2: 5185
RESISTANCE 1: 5425
RESISTANCE 2: 5505
GOLD (APR) – INDIA hiked import duty on standard Gold. India is top consumers of Gold in the world and duty hikes is likely to impact the imports. The import duty on Standard Gold items were raised to 4% from 2%.Gold experienced a third weekly loss as improved fundamentals in US and declines of EURO curbed buying. MCX gold contract for April expiry ended at Rs. 27851 per 10 grams, down 0.51%.Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27775
SUPPORT 2: 27655
RESISTANCE 1: 27965
RESISTANCE 2: 28095
SILVER (MAY) – Economy to play major role in building silver’s fortune. It has had a history as a currency but today it is much more driven by industrial demand Silver’s Expected resistance and support levels for today trade are as follows:
SUPPORT 1: 57115
SUPPORT 2: 57025
RESISTANCE 1: 57385
RESISTANCE 2: 57495
Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.
0 comments:
Post a Comment