COMMODITY MARKET ANALYSIS FOR 9th September 2011

COMMODITY TRADING LEVELS 

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Nov 2011, is expected to trade between the broad ranges of 415 to 430. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 427 R2- 430

SUPPORT:       S1- 421   S2- 415

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

RESISTANCE:  R1-4136  R2 - 4150

SUPPORTS:     S1- 4115  S2- 4090

GOLD (aug) -  gold august contract which will expire on 5th Oct 2011.gold is deviating as the US debt default concern made the investors cautious. Resistance and support levels for the today’s session are:

RESISTANCE:  R1-27895   R2-28000

SUPPORTS:     S1- 27630   S2-27400

SILVER (Sep) -   silver closed at 65597.silver traded in positive mood but with less intensity. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-65830  R2-66100

SUPPORTS:     S1-64560    S2-64000