GOLD (JUN) – A short-covering rally that has been a long time coming finally arrived for gold, with chart support emerging in the low $1,500s, which supported the market twice in 2011,.Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
TREND BULLISH
SUPPORT 1: 28880
SUPPORT 2: 28635
RESIST 1 : 29210
RESIST 2 : 29305
SILVER (JUL) – United States mined silver production declined by 9% versus last year and was down 6% versus January’s levels, as per latest data released by the United States Geological Survey (USGS).Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53430
SUPPORT 2: 52820
RESIST 1 : 55805
RESIST 2 :57430
COPPER (JUN) – Indian commodity futures market which witnessed rapid growth in trade volumes in the past few years has receded a bit in the first month of the current financial year (2012-13) with Forward Mraket Commission (FMC) data showing 10% decline. Expected resistance and support level for today trade are as follows.
TREND BULLISH
SUPPORT 1: 413.65
SUPPORT 2: 418.10
RESIST 1 : 431.15
RESIST 2 : 436.85
CRUDE OIL (MAY) – Bahrain oil production is expected to double to 100,000 barrels a day (bpd) from the current 50,000 bpd within five years, said Abdul-Hussain Ali Mirza, Bahrain’s energy minister.Expected resistance and support levels for the crude MAY contract are:
TREND BEARISH
SUPPORT 1: 4980
SUPPORT 2: 4880
RESIST 1 :5170
RESIST 2 : 5305
With Best Indian
Stock Tips & C
ommodity Tips you can make money from these markets by trading in our Calls with great accuracy and high profitability…
