COMMODITY TRADING LEVELS FOR 3rdAugust 2011

COMMODITY TRADING LEVELS

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad range of 410 to 456. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 440 R2- 456

SUPPORT:       S1- 426 S2- 410

CRUDE OIL (jul) – expected resistance and support levels for the crude July contract with expiry date of 19 July 2011 are:

 RESISTANCE:  R1-4324   R2 - 4500

 SUPPORTS:     S1- 4123  S2- 4038     

  

GOLD (aug) - gold august contract which will expire on 5^th aug 2011.gold has made the record high amid the weak global cues. Resistance and support levels for the today’s session are:

RESISTANCE:  R1- 23732   R2-23913

SUPPORTS:     S1- 23268   S2-22986

SILVER (Sep) -   silver on 1^st august closed at 59326.silver traded in positive mood. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-59077   R2-59411

SUPPORTS:     S1-58743   S2-58400

 LME DATA ON 2ND AUGUST

ALUMINIUM: Aluminum LME inventory data declined 8125points and stood at 4437475 on 2^ND AUGUST 2011.

COPPER : Copper LME inventory data was 466025 on 2^ND August, decreased by400 points.

NICKEL: LME inventory data of Nickel stood 102942 on 2^ND August 2011, decreased by 156 points; data on 1^st aug 2011 was 103098. 

LEAD: Lead LME inventory data increased by approx 75 points as compare on 1^st aug 2011 data 310675  and stood at 310750 on 2^ndAugust 2011.

ZINC: On 2^nd August 2011, Zinc LME inventory data stood at 889300, 25 less than the data 889325  on 1^st aug 2011.

TIN : TIN LME inventory data rested at 21465 on 2^nd August 2011, increased by 650 points from 20815 on 1^st aug 2011.