COPPER (AUG): London copper was little changed on Monday after a better-than-expected U.S. jobs report eased concern over growth in the world's biggest economy, and a fresh pledge by top metals consumer China to support growth also helped to support prices. Three-month copper on the London Metal Exchange was steady at $7,438 per metric ton (1.1023 tons) by 10.48 p.m. EDT, down 0.09 percent after gains of more than 1 percent in the previous session. Expected resistance and support level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 407.15,
SUPPORT 2: 401.75,
RESIST 1: 417.80,
RESIST 2: 423.15,
CRUDE OIL (AUG): Crude-oil futures vaulted almost 5% to close above $91 a barrel after better-than-expected U.S. data fueled hopes that economic strengthening would lead to increased oil demand. Light, sweet crude for September delivery rose $4.27, or 4.9%, to settle at $91.40 a barrel on the New York Mercantile Exchange. The contract reached $91.74, its highest intraday price since July 20, before pulling back slightly. Brent crude on ICE Futures Europe settled up $3.04, or 2.9%, at $108.94 a barrel. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUP1: 4925,
SUP2: 4851,
RESIST1: 5145,
RESIST2: 5265,
GOLD (OCT): Gold edged down 0.5% while other precious metals posted gains of 1.1% for silver and palladium and 0.4% for platinum. On Friday, gold prices for December delivery jumped $18.60, or 1.2%, to$1,609.30 an ounce. The yellow metal traded between an intraday low of $1,588.50 and a high of $1,609.90. Gold has gained 2.7% in 2012.Gold hit Wednesday and then Thursday over disappointment that the Federal Reserve and ECB failed to offer investor-desired stimulus measures after monetary policy meetings. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUP1: 29810,
SUP2: 29720,
RESIST1: 30050,
RESIST2: 30200,
SILVER (SEP): Silver rebounded sharply Friday after three straight daily losses, and silver managed to cross into positive territory this week. Silver prices for September delivery rallied 80.6 cents, or 3.0%, to $27.801 an ounce. Silver ranged from $26.990 to $27.895.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 52910,
SUP2: 52530,
RESIST1: 53770,
RESIST2: 54230,
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