COMMODITY NEWS AND TRADING LEVELS FOR 28TH MAY 2012

Commodity Trading Levels

COPPER (JUN) – Indian commodity futures market which witnessed rapid growth in trade volumes in the past few years has receded a bit in the first month of the current financial year (2012-13) with Forward Mraket Commission (FMC) data showing 10% decline. Expected resistance and support level for today trade are as follows:

TREND CONSOLIDATE

SUPPORT 1: 420.20

SUPPORT 2: 417.25

RESISTANCE 1: 430.70

RESISTANCE 2: 432.00

CRUDE OIL (JUN) – 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 JUN contract are:

TREND CONSOLIDATE

SUPPORT 1: 4840

SUPPORT 2: 4735

RESISTANCE 1: 5070

RESISTANCE 2: 5205

GOLD (JUN) – Gold is getting hit by both dollar strength and the weak demand, since last 2 days. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:

TREND CONSOLIDATE

SUPPORT 1: 28635

SUPPORT 2: 28271

RESISTANCE 1: 29167

RESISTANCE 2: 29305

SILVER (JUL) – Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT 1: 53170

SUPPORT 2: 52820

RESISTANCE 1: 55119

RESISTANCE 2: 55505

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