 |
| Commodity Trading Levels |
TREND BEARISH
SUPPORT 1: 413.65
SUPPORT 2: 405.85
RESISTANCE 1: 428.75
RESISTANCE 2: 436.15
CRUDE OIL (MAY) – Bahrain oil production is expected to double to 100,000 barrels a day (bpd) from the current 50,000 bpd within five years, said Abdul-Hussain Ali Mirza, Bahrain’s energy minister. Expected resistance and support levels for the crude MAY contract are:
TREND BEARISH
SUPPORT 1: 4925
SUPPORT 2: 4815
RESISTANCE 1: 5155
RESISTANCE 2: 5275
GOLD (JUN) - A short-covering rally that has been a long time coming finally arrived for gold, with chart support emerging in the low $1,500s, which supported the market twice in 2011,.Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
TREND BULLISH
SUPPORT 1: 28280
SUPPORT 2: 27855
RESISTANCE 1: 29170
RESISTANCE 2: 29305
SILVER (JUL) – United States mined silver production declined by 9% versus last year and was down 6% versus January’s levels, as per latest data released by the United States Geological Survey (USGS).Silver is Expected resistance and support levels for today trade are as follows:
TREND BULLISH
SUPPORT 1: 53560
SUPPORT 2: 51200
RESISTANCE 1: 55095
RESISTANCE 2: 56135
Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.
Click Here For Commodity Tips
Indian markets continued their losing streak last week, with the Nifty now down for four straight weeks. Friday's recovery led to the formation of a ‘hammer pattern’ on weekly candlestick charts. The Nifty has been forming lower tops and lower bottom pattern and a move past 4930 levels could result in a relief rally towards 5030. Till then, the outlook remains cautious.
Market overview
The start today could be flat to tad positive. Most Asian indices are positive. European markets closed mixed on Friday even though the US markets suffered badly.
UPA II completes three tumultuous years in office today. There is unlikely to be much jubilation though given its poor track record in terms of governance. Some would even say it is lucky to be still there in power. There is definitely a crisis of confidence – both politically as well as economically. Surprisingly, the start of the second stint for the Congress-led regime was quite upbeat. Markets were certainly much more optimistic. But, nobody had any inkling that the scenario would reverse so dramatically. The question is: can UPA II leadership at least salvage some pride in the remaining two years?
UPA II completes three tumultuous years in office today. There is unlikely to be much jubilation though given its poor track record in terms of governance. Some would even say it is lucky to be still there in power. There is definitely a crisis of confidence – both politically as well as economically. Surprisingly, the start of the second stint for the Congress-led regime was quite upbeat. Markets were certainly much more optimistic. But, nobody had any inkling that the scenario would reverse so dramatically. The question is: can UPA II leadership at least salvage some pride in the remaining two years?
The start today could be flat to tad positive. Most Asian indices are positive. European markets closed mixed on Friday even though the US markets suffered badly. Markets around the world remain pre-occupied with the eurozone crisis. Things are also slowing down in the US and China. For India, the biggest issue is a fragile rupee, which has been hit by a widening current account deficit and worsening economic fundamentals. UPA II should take a few bold policy actions rather than blame external events.
0 comments:
Post a Comment