COPPER (APR) – Lukewarm trading was seen in Base metals on Monday, 19th March as the mixed data from US that showed a rise in US industrial production and decline in consumer confidence on Friday last week coupled with the fall in China house prices weighed down the sentiment. But, the investors eye on US housing data due later today prompted them to sit on sidelines during the mid morning session. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 432.45
SUPPORT 2: 429.75
RESISTANCE 1: 436.25
RESISTANCE 2: 438.85
CRUDE OIL (APR) – MCX Crude oil futures are quoting at Rs. 5354, up Rs. 76 per barrel, thanks to a generous spurt in global prices earlier in the day and are yet to drop in line with latest drop in global prices. The commodity has come off a high near Rs. 5400 per barrel though- indicating that the level could act as a stiff resistance for the counter in near term. Expected resistance and support levels for the crude Dec contract with expiry date of APRIL 2012 are:
SUPPORT 1: 5335
SUPPORT 2: 5240
RESISTANCE 1: 5545
RESISTANCE 2: 5635
GOLD (APR) – The commodity had gained for last two sessions after testing nearly two month lows last week. Gold still needs to break a few critical technical barriers to get back its major. The very first upside resistance for Gold would be crossing the exponential moving average of 100 on daily charts. MCX Gold futures are quoting at Rs. 27830, down Rs. 40 per barrel on the day. Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27875
SUPPORT 2: 27755
RESISTANCE 1: 28045
RESISTANCE 2: 28195
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: 57415
SUPPORT 2: 57325
RESISTANCE 1: 57685
RESISTANCE 2: 57795
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