Free Commodity Tips
COPPER (APR) – Expected resistance and support level for today trade are as follows:

SUPPORT 1: 433.35
SUPPORT 2: 429.85

RESISTANCE 1: 439.75
RESISTANCE 2: 444.15

CRUDE OIL (MAY) – 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 APR contract with expiry date of MAY 2012 are:

SUPPORT 1: 5415
SUPPORT 2: 5305


GOLD (JUNE) - 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. Resistance and support levels for the today’s session for Gold JUNE contract which will expire on JUNE 2012 are:

SUPPORT 1: 28925
SUPPORT 2: 28810


SILVER (MAY)  On domestic front Silver’s Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55825
SUPPORT 2: 55710


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Daily Commodity News Bulletin :27th April

Barclays Capital is expecting copper supplies to fall to a 4 year low in relation to demand due to constant supply disruptions from major mines in the world. And this might in fact prove to be the catalyst of a huge upward movement.
The Shanghai Futures Exchange (SHFE) has received approval from the country's regulators to start trading in Silver ETF's. This will provide the domestic Chinese investors a new opportunity to trade the precious metal.
Physical demand for gold has been very uninspiring with the amount of buying in conjunction with an Indian festival appearing well below levels from a year ago, said UBS in a commodity briefing.

On Thursday, the key domestic benchmarks ended marginally lower amid the expiry day of the April Futures & Options (F&O) contracts as traders squared off their positions in stocks. Moreover, domestic sentiment remained subdued a day after rating agency Standard & Poor’s warned of a ratings downgrade in two years amid India’s deteriorating fiscal health and political uncertainty. Weak cues from European markets also dragged down sentiment during late trade. After witnessing a slightly higher opening amid positive Asian cues, the domestic benchmarks failed to sustain momentum and slipped into the negative terrain. The benchmarks continued to trade lackluster during afternoon trade as the S&P warning and expiry of the F&O contracts weighed on sentiment.

Experts Views On Commodities

Sumeet Bagadia of Destimoney feels that silver has a major support at Rs 55,000 per kilogram. He says that if prices are able to break these levels then a sharp correction can be seen till Rs 53,000 per kilogram. So he suggests using Rs 55,700-55,800 per kilogram levels as selling opportunities with a stop loss to be placed at 56,200 per kilogram for the shortcoming target of Rs 55,200 per kilogram and below that Rs 54,500 per kilogram in next one or two days.

Ashish Kyal of CommTrendz reckons that gold prices have inched higher in lines with his expectations. However he feels that prices are finding strong resistance around psychological Rs 29,000 per 10 grams levels. So he advises buying gold on moves above Rs 29,000 per 10 grams with a stop loss of Rs 28,800 per 10 grams and a target of Rs 29,400 per 10 grams.

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