LME DATA ON 1ST AUGUST…..

ALUMINIUM: Aluminum LME inventory data declined 7650 points and stood at 4445600 on 1^ST AUGUST 2011.

COPPER : Copper LME inventory data was 466550 on 1^ST August, decreased by525 points and

NICKEL: LME inventory data of Nickel stood 103098 on 1^ST August 2011, increased by 558 points; data on 29^th July 2011 was 102540. 

LEAD: Lead LME inventory data decreased by approx 775 points as compare on 29^th july 2011 data, 311450 and stood at 310675 on 1^ST August 2011.

ZINC: On 1^ST August 2011, Zinc LME inventory data stood at 889325,  225 less than the data 889550  on 29^th July.

TIN : TIN LME inventory data rested at 20815 on 1^ST August 2011, declined 50 points from 20865 on 29^th July. 

COMMODITY TRADING LEVELS FOR 2ND August 2011

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad ranges of 408 to 469. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 445 R2- 469

SUPPORT:       S1- 426 S2- 408

CRUDE OIL (jul) – expected resistance and support levels for the crude July contract with expiry date of 19 July 2011 are:

 RESISTANCE:  R1-4324   R2 - 4641

 SUPPORTS:     S1- 4123  S2- 4038     

  

GOLD (aug) - gold august contract which will expire on 5^th aug 2011.gold is expected to make a further weak move as the cloud over the us economy almost deteriorated. Resistance and support levels for the today’s session are:

RESISTANCE:  R1- 23212   R2-23404

SUPPORTS:     S1- 23109   S2-22966

SILVER (Sep) -   silver on 1^st august closed at 58125.silver traded in positive mood but with less intensity. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-59077   R2-59411

SUPPORTS:     S1-58743   S2-58411