COMMODITY NEWS AND TRADING LEVELS FOR 12TH APRIL 2012

Commodity News & Trading Levels

COPPER (APR) – Expected resistance and support level for today trade are as follows:

SUPPORT 1: 413.35

SUPPORT 2: 411.85

RESISTANCE 1: 417.75

RESISTANCE 2: 419.15

CRUDE OIL (APR) – Crude Oil prices have been rising for several months amid an EU states' boycott of oil supplies from Iran. Oil traders are also concerned about the possibility of a future war with Iran as well as wider political instability in the Middle East, including the crisis in Syria. Expected resistance and support levels for the crude APR contract with expiry date of 19 APRIL 2012 are:

SUPPORT 1: 5190

SUPPORT 2: 5085

RESISTANCE 1: 5415

RESISTANCE 2: 5510

GOLD (JUNE) - Gold’s ability to edge higher at the start of the week is impressive considering the lack of retail jewelry demand in India due to a protest by jewelers. Resistance and support levels for the today’s session for Gold JUNE contract which will expire on JUNE 2012 are:

SUPPORT 1: 28525

SUPPORT 2: 28410

RESISTANCE 1: 28715

RESISTANCE 2: 28835

SILVER (MAY) – From the economic data front as well we can see the US releases may come up with a good signal to the economy. However, an increase in jobless claims due to slash in government jobs might pressurize the dollar. So, silver is likely to remain strong for the day and hence, we recommend remaining long for the metal for the day. On domestic front Silver’s Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55925

SUPPORT 2: 55710

RESISTANCE 1: 56195

RESISTANCE 2: 56315

Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.

Enjoy Free Commodity Tips

Daily Commodity News Updates

Copper


The global market for copper is predictable to hit 27.5 mn metric tons by the year 2017, predicts the research report titled "Copper: A Global considered Business Report" released by Global Industry Analysts Inc.

Gold

Comex gold is marginally lower after a consolidation session. "Wednesday was one of the most quiet days in the precious metals in current memory," said John Howlett, division vice president with Mitsubishi International Corp.k

Silver

United States Mint reported that the sales of gold and silver coins bounced back in March this year from February but remained well below January's levels. The US Mint has sold 10,459,000 ounces of silver and 214,500 ounces of gold till March.

Crude oil

WTI crude oil may soon cost almost the same as Brent oil prices, a research note by Goldman Sachs states. The WTI-Brent spread, the differential between both these oil prices, had spiked to about $20/barrel over the past weeks as WTI prices were depressed from high level of inventories.

Click Here For Commodity Tips   

COMMODITY NEWS AND TRADING LEVELS FOR 11TH APRIL 2012

COPPER (APR) – Copper prices may face the heat after latest data from China showed that imports of copper had dropped in March. China is the biggest consumer of copper in the world and accounts for about 40% of global copper consumption. China's copper imports for March were pegged at 462,182 tonnes, down 4.6% from February's 484569 tonne import. Also negative for copper prices is the unexpected jump in inflation for the month of March. This is seen to reflect the weakening demand from China. Expected resistance and support level for today trade are as follows:

SUPPORT 1: 415.25

SUPPORT 2: 411.95

RESISTANCE 1: 424.15

RESISTANCE 2: 429.75

CRUDE OIL (APR) – Cairn India has reported that it had an average daily gross operated production of 180,293 barrels of oil equivalent for Q4 of FY 2011-2012, with working interest production at 17,292 barrels of oil equivalent per day (boepd). The gross Oil production from operating units was 167,663 bopd and 160,635 bopd during Q4 and the full year, respectively, as compared with 148,288 bopd and 135,811 bopd during the corresponding prior periods. This was higher due to the ramp-up of Rajasthan operations during the year. Expected resistance and support levels for the crude March contract with expiry date of 19 APRIL 2012 are:

SUPPORT 1: 5200

SUPPORT 2: 5170

RESISTANCE 1: 5285

RESISTANCE 2: 5335

GOLD (JUN) - While gold got a boost from a soft U.S. jobs report Friday, the data may not be a “game-changer” and the market will soon turn its attention to the next meeting of the Federal Open Market Committee, said UBS in a daily commodity briefing. According to the bank, gold is down from late-February levels due to diminished prospects for more quantitative easing. Resistance and support levels for the today’s session:

SUPPORT 1: 28410

SUPPORT 2: 28190

RESISTANCE 1: 28770

RESISTANCE 2: 28900

SILVER (MAY) – Silver prices are likely to remain volatile as the outlook for industrial demand softens but investor appetite is not overextended. Chinese silver imports are down about a third for the year to date. “On a product basis, semi-manufactured silver continued to decline in February, while silver powder and jewelry imports recovered but are still down for the YTD. On domestic front Silver’s Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55800

SUPPORT 2: 55400

RESISTANCE 1: 56510

RESISTANCE 2: 56800

Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.

Enjoy Free Commodity Tips

Daily Commodity News Updates

Copper

MCX copper prices are predictable to trade in a range of Rs 420-Rs 470 for the month of April, SMC India states in a report. Financial concerns from Europe, economic data from the US and the movement of the US Dollar are expected to make copper prices volatile all through the month while Chinese copper consumption is expected to be the focus of investor inquiry.

The global supply of copper will reduce short of demand until the second half of 2013 as environmental and financing difficulties holdup new production plants. Project delays and unexpected production halts have maintained a five-year copper supply deficit of between 300,000 and 400,000 tones a year, or about 3 percent of the world's production, helping prices hit an all-time high early in 2011.

The supply distraction due to strike in mines along with positive economic data can add to the support for prices.

Crude oil

Some companies in the oil and gas business get extra appreciation in the market than they perhaps deserve. Others labor away building their assets and cash flow with little market acknowledgment.

Nynex crude oil prices declined by 1.2 percent yesterday on the back of the news that Iran has agreed to resume its nuclear talks with US and its allies that eased the supply worries.

Gold

While gold got a boost from a soft U.S. jobs report Friday, the data may not be a “game-changer” and the market will soon turn its attention to the next meeting of the Federal Open Market Committee, said UBS in a daily commodity meeting.

Some of the industrial metals could come under pressure early in the second quarter before rising beyond into the future, said TD Securities in a daily research note.

Silver

Silver futures at MCX opened positive today because of Rupee weakness against US dollar. However,  spot Silver pressure continued as worries about reduction in manufacturing in both the Euro zone and China triggered a broad sell-off.

Silver May future at MCX is currently trading at Rs 56319, up by 0.03 percent. It touched an intra-day high of Rs 56417. At COMEX, spot silver traded around $ 31.522 per ounce, down by 0.34 percent.

 Click Here For Commodity Tips   

COMMODITY NEWS AND TRADING LEVELS FOR 10TH APRIL 2012

COPPER (APR) – Copper prices are starting the week with a softer tone. “The poorer-than-expected U.S. jobs report on Friday, as well as higher inflation in China than expected, has put downward pressure on copper. MCX copper prices are expected to trade in a range of Rs 420-Rs 470 for the month of April, SMC India states in a report. Financial concerns from Europe, economic data from the US and the movement of the US Dollar are expected to make copper prices volatile during the month. Expected resistance and support level for today trade are as follows:

SUPPORT 1: 419.02

SUPPORT 2: 415.58

RESISTANCE 1: 428.87

RESISTANCE 2: 435.28

CRUDE OIL (APR) – MCX Crude April as seen in the weekly chart above has opened at 5405(NYME Crude oil $107.88) levels and in the mid of week we seen that prices fallen very sharply and made a low of 5294 (NYMEX Crude Oil - $104.29), but not able to sustained around the strong support level of 5250 (NYMEX Crude oil 103.80) and rallied sharply and able to closed their open level of 5405, but on NYMEX prices closed around $107.66. Expected resistance and support levels for the crude March contract with expiry date of 19 APRIL 2012 are:

SUPPORT 1: 5225

SUPPORT 2: 5160

RESISTANCE 1: 5320

RESISTANCE 2: 5350

GOLD (JUN) - The reopening of Indian jewelry shops provided a boost for gold prices, said HSBC in a commodity research note. Jewelers ended a 20-day protest against a doubling of the import tax on gold from 2% to 4% and introduction of an excise tax of 1% on unbranded gold jewelry. Resistance and support levels for the today’s session:

SUPPORT 1: 28140

SUPPORT 2: 28085

RESISTANCE 1: 28320

RESISTANCE 2: 28450

SILVER (MAY) – BNP Paribas said that silver has upside potential. “Our positive price profile for silver relies on two assumptions--a higher gold price and higher risk appetite,” as per a research note from precious-metals strategist Anne-Laure Tremblay. The bank looks for silver industrial demand to grow by around 2% to 3% in 2012, accelerating to 5% to 6% in 2013. On domestic front Silver’s Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55715

SUPPORT 2: 55230

RESISTANCE 1: 56575

RESISTANCE 2: 56950

Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.

Enjoy Free Commodity Tips