COMMODITY MARKET ANALYSIS : 04 AUGUST 11

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 419 to 435. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 430 R2- 435

SUPPORT:      S1- 422 S2- 419

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

 RESISTANCE:  R1-4159   R2 - 4218

 SUPPORTS:    S1- 4053  S2- 4006     

  

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

RESISTANCE:  R1- 23920   R2-24020

SUPPORTS:     S1- 23700   S2-23560

SILVER (SEP) -   silver yesterday closed at 61180 after making a high of 61880.silver made the all time high. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-61300   R2-62100

SUPPORTS:     S1-59861   S2-58541

LME DATA ON 3^rd AUGUST

ALUMINIUM: Aluminum LME inventory data declined 7575 points and stood at 4429900 on 3^rd AUGUST 2011.

COPPER: Copper LME inventory data was 465850 on 3^rd AUGUST 2011, increased by224 points.

NICKEL: LME inventory data of Nickel stood 102900 on 3^rd AUGUST 2011, decreased by 42 points; data on 2^nd Aug 2011 was 102942. 

LEAD: Lead LME inventory data decreased by approx 10 75 points as compare on 2^nd aug 2011 data 310750 and stood at 309675 on 3^rd AUGUST 2011.

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ZINC: On 3^rd AUGUST 2011, Zinc LME inventory data stood at 889300, 25 less than the data 889325 on 2^nd Aug 2011.

TIN: TIN LME inventory data rested at 889800 on 3^rd AUGUST 2011, increased by 500 points from 889300 on 2^nd Aug 2011.