COPPER (AUG): Copper edged up on Monday as its demand outlook improved on hopes Europe and the United States will announce fresh measures to shore up their faltering economies, while investors also eyed factory data from top metals consumer China for trading cues. Three-month copper on the London Metal Exchange traded at $7,600 a ton at 0314 GMT, up 0.42 percent and building on a more than 1 percent gain in the previous session. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 417.60,
SUPPORT 2: 413.80,
RESIST 1: 423.10,
RESIST 2: 427.60,
CRUDE OIL (AUG): Oil prices were mixed in Asian trade today as investors await further measures by policymakers to boost the ailing Euro zone and US economy, analysts said. New York’s main contract, light sweet crude for September delivery eased 13 cents to $90.00 a barrel while Brent North Sea crude, also for delivery in the same month, was five cents higher at $106.52.Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUP1: 4915,
SUP2: 4825,
RESIST1: 5080,
RESIST2: 5150,
GOLD (AUG): Gold held steady above $1,620 per ounce on Monday, as investors wait for the central banks on both sides of the Atlantic to give clearer cues on the potential for further monetary stimulus. Last Friday's data showed US economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery ahead of the Fed policy meeting later in the week. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUP1: 29710,
SUP2: 29615,
RESIST1: 29875,
RESIST2: 29950,
SILVER (SEP): Silver rallied on speculation about further stimulus. Silver September 12contract was up by 0.23% to Rs 53,338.00 per kg, SilverM August 12 contract was up by 0.23% to Rs 53,367.00 per kg and SilverMIC August 12 contract was up by 0.22% to Rs 53,367.00 per kg.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 52860,
SUP2: 52592,
RESIST1: 53674,
RESIST2: 54990,
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