COPPER (APR) – Base metals remain lackluster on Tuesday, 3rd April after rallying during the mid morning as the improvement in manufacturing activity of China and US gave early boost to the metals but the concerns on the euro zone debt crisis and its impact on the region's growth prompted the investors to stay on sidelines. However, the volumes were low due to closure of Chinese markets for the first three days during the week. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 435.35
SUPPORT 2: 434.85
RESISTANCE 1: 442.75
RESISTANCE 2: 445.15
CRUDE OIL (APR) – Crude Oil prices have been rising for several months amid an EU states' boycott of oil supplies from Iran. Oil traders are also concerned about the possibility of a future war with Iran as well as wider political instability in the Middle East, including the crisis in Syria. Expected resistance and support levels for the crude March contract with expiry date of 19 APRIL 2012 are:
SUPPORT 1: 5190
SUPPORT 2: 5085
RESISTANCE 1: 5395
RESISTANCE 2: 5515
GOLD (APR) - Gold’s ability to edge higher at the start of the week is impressive considering the lack of retail jewelry demand in India due to a protest by jewelers. The Bombay Bullion Association estimates that March gold imports fell to 15 to 20 metric tons from 75 tons in March 2011. Still, Comex June gold managed a gain of $7.80 an ounce Monday and is roughly flat in overnight screen trading so far Tuesday. Resistance and support levels for the today’s session for Gold APR contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27725
SUPPORT 2: 27610
RESISTANCE 1: 27985
RESISTANCE 2: 28095
SILVER (MAY) – From the economic data front as well we can see the US releases may come up with a good signal to the economy. However, an increase in jobless claims due to slash in government jobs might pressurize the dollar. So, silver is likely to remain strong for the day and hence, we recommend remaining long for the metal for the day. On domestic front Silver’s Expected resistance and support levels for today trade are as follows:
SUPPORT 1: 57425
SUPPORT 2: 57310
RESISTANCE 1: 57695
RESISTANCE 2: 57815
Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.
Enjoy Free Commodity Tips
0 comments:
Post a Comment