COPPER (AUG): Copper fell for the first time in four sessions after weaker-than-forecast German industrial production fueled concern that Europe’s debt crisis is crimping economies and cutting metals demand. Copper futures for September delivery slid 0.6 percent to settle at $3.4215 a pound on the Comex in New York. Prices gained 4.6 percent in the previous three sessions. On the London Metal Exchange, copper for delivery in three months retreated 0.4 percent to $7,550 a metric ton ($3.43 a pound.)Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 411.80
SUPPORT 2: 405.70
RESIST 1: 423.00
RESIST 2: 427.80
CRUDE OIL (AUG): Oil in New York fell for the first time in four days after a government report showed fuel demand weakened last week and on concern that the Federal Reserve won’t implement additional stimulus measures. Prices declined 0.3 percent as the Energy Department said U.S. petroleum demand decreased for the first time in four weeks. Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUP1: 5080
SUP2: 4987
RESIST1: 5230
RESIST2: 5310
GOLD (OCT): Gold advanced for the third time in four sessions on speculation that central banks will take steps to bolster their economies, increasing the appeal of the precious metal as a store of value. Spot gold had edged up 0.3 percent to $1,616.22 an ounce by 0324 GMT.The U.S. gold futures contract for December delivery gained 0.2 percent to $1,619.10.Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUP1: 29730
SUP2: 29590
RESIST1: 30010
RESIST2: 30150
SILVER (SEP): Silver traded lower following global leads. Silver futures for September delivery declined less than 0.1 percent to $28.075 an ounce in New York.Silver for September delivery on the MCX was down 0.26% at Rs 53,230 per kg.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 53010
SUP2: 52820
RESIST1: 53910
RESIST2: 54440
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