COMMODITY MARKET UPDATES

COMMODITY MARKET UPDATES

THERE WAS A PANIC IN THE MARKET YESTERDAY AFTER THE OPENING OF THE US MARKETS AND ALL OF A SUDDEN THE PRECIOUS METALS MADE AN UPTREND AND CLOSED ON THE HIGH NODE. THE RALLY STILL CONTINUES AND GOLD AND SILVER GAVE A GAPUP OPENING

CRUDE FEELING PRESSURE AND WE CAN HOPE FOR A DOWNTREND IN THIS BASE METALS SHOWING GOOD START AND THEY ARE EXPECTED TO PERFORM UPSIDE.

COMMODITY TRADING LEVELS FOR 22ndAugust 2011

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad range of 398 to 405. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 403 R2- 405

SUPPORT:       S1- 400 S2- 398

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

 RESISTANCE:  R1-3825   R2 - 3830

 SUPPORTS:     S1- 3800 S2- 3759

  

GOLD (Oct) - gold august contract which will expire today has made the high of 27989 amid the weak global cues. Resistance and support levels for the today’s session are:

RESISTANCE:  R1- 28495   R2-29000

SUPPORTS:     S1-27590 S2-27500

SILVER (Sep) -   silver yesterday closed at 66261 after making a high of 66490. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-66500 R2-66859

SUPPORTS:     S1-64329   S2-63989

COMMODOITY TRADING LEVEL FOR 9 AUGUST 2011

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad range of 389 to 435. Expected resistance and support level for today trade are as follows.

RESISTANCE:   R1- 420 R2- 435

SUPPORT:       S1- 401 S2- 389

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

 RESISTANCE:  R1-4010 R2 - 4050

 SUPPORTS:    S1- 3799 S2- 3700      

GOLD (oct) - gold august contract which will expire on 5^th OCT 2011.gold has made the record high amid the weak global cues. Resistance and support levels for the today’s session are:

RESISTANCE:   R1- 25500  R2-26200

SUPPORTS:      S1- 23300   S2-23000

SILVER (Sep) -   silver Expected resistance and support level for today trade are as follows.

RESISTANCE:   R1-60300   R2-60889

SUPPORTS:     S1-58540   S2-58000

COMMODITY TRADING LEVELS FOR 8th August 2011

COPPER (AUG) – copper’s Aug contract which is going to expire on 30 Aug 2011, is expected to trade between the broad range of 419 to 435. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1- 420 R2- 435

SUPPORT:       S1- 401 S2- 389

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

 RESISTANCE:  R1-4010  R2 - 4050

 SUPPORTS:     S1- 3799 S2- 3700      

GOLD (oct) - gold august contract which will expire on 5^th OCT 2011.gold has made the record high amid the weak global cues. Resistance and support levels for the today’s session are:

RESISTANCE:  R1- 25000   R2-25200

SUPPORTS:     S1- 24300   S2-23000

SILVER (Sep) -   silver yesterday closed at 58379 after making a high of.silver made the all time high. Expected resistance and support level for today trade are as follows.

RESISTANCE:  R1-60300   R2-60889

SUPPORTS:     S1-58540   S2-58000