FREE COMMODITY TIPS AND COMMODITY TRADING LEVELS FOR 28TH JUNE 2012

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COPPER (JUN): Three-month copper on the London Metal Exchange was up 0.3 percent at $7,429.75 per metric ton by 0114 GMT, its fourth daily rise in a row, after a gain of 0.6 percent in the previous session. The copper contract on the Shanghai Futures Exchange moved up 0.9 percent to 54,240 Yuan ($8,500) per metric ton, after ending the previous session 0.2 percent higher. Expected resistance and support level for today trade are as follows.

TREND CONSOLIDATE

SUPPORT 1: 416.60

SUPPORT 2: 415.40

RESISTANCE 1: 421.20

RESISTANCE 2: 423.35

CRUDE OIL (JUL) Oil gained for a third day in New York after reports signaled fuel demand is increasing amid an economic recovery in the U.S., the world’s biggest crude user. Crude delivery increased as much as 49 cents to $80.70 a barrel in electronic trading on the New York Mercantile Exchange and was at $80.55 at 2:04 p.m. Sydney time. The contract yesterday gained 1.1 percent to $80.21, the highest close since June 20. Prices are down 22 percent this quarter. Expected resistance and support levels for the crude JUN contract are:

TREND CONSOLIDATE

SUPPORT1: 453

SUPPORT2: 4490

RESISTANCE1: 4620

RESISTANCE2: 4650

GOLD (AUG) : Gold edged up on Thursday after the euro showed some resilience ahead of a European Union summit, which is unlikely to deliver new measures to tackle the region’s debt crisis and may prompt investors to turn to the safety of the U.S. dollar. Gold added $1.19 an ounce to $1,575.59 at 0251 GMT, having briefly risen above $1,581 on Wednesday on bargain hunting. The metal is on track for a more than 5 percent drop this quarter. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:

TREND CONSOLIDATE

SUPPORT1: 29866

SUPPORT2: 29768

RESISTANCE1: 30121

RESISTACE2: 30278

                                   

SILVER (JUL) – Silver also fell on speculative selling coupled with subdued industrial demand. Silver ready (.999 fineness) dropped by Rs 740 per kg to conclude at Rs 53,610 as against Rs 54,350 yesterday. 
Silver for July contract fell by 48 cents to $ 27.04 an ounce. silver lost Rs 700 to Rs 53,700 per kg on fall in demand at prevailing higher levels among jewelers and industrial units. Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT1: 53939

SUPPORT2: 53526

RESISTANCE1: 54896

RESISTANCE2: 55440

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We are likely to see a cautious start, as investors wait for Dr. Manmohan Singh to breathe some life into the struggling Indian economy.

The two-day EU summit also begins today in Brussels. Investors are hoping that EU leaders will set aside their differences and announce credible measures to quell the protracted debt crisis. Germany’s stance is likely to be crucial.

The NSE Nifty continued to trade in a narrow 5100-5200 zone on Wednesday. The only positive in the current week’s movements has been the higher opening on Monday, which was above the hammer pattern. Nifty is expected to face some resistance around 5200.

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