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Free commodity tips and commodity trading levels for 28th june 2012
Commodity News and Insights for Traders and Investors
COPPER (JUN): Three-month copper on the London Metal Exchange was up 0.3 percent at $7,429.75 per metric ton by 0114 GMT, its fourth daily rise in a row, after a gain of 0.6 percent in the previous session. The copper contract on the Shanghai Futures Exchange moved up 0.9 percent to 54,240 Yuan ($8,500) per metric ton, after ending the previous session 0.2 percent higher. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 416.60
SUPPORT 2: 415.40
RESISTANCE 1: 421.20
RESISTANCE 2: 423.35
CRUDE OIL (JUL) Oil gained for a third day in New York after reports signaled fuel demand is increasing amid an economic recovery in the U.S., the world’s biggest crude user. Crude delivery increased as much as 49 cents to $80.70 a barrel in electronic trading on the New York Mercantile Exchange and was at $80.55 at 2:04 p.m. Sydney time. The contract yesterday gained 1.1 percent to $80.21, the highest close since June 20. Prices are down 22 percent this quarter. Expected resistance and support levels for the crude JUN contract are:
TREND CONSOLIDATE
SUPPORT1: 453
SUPPORT2: 4490
RESISTANCE1: 4620
RESISTANCE2: 4650
GOLD (AUG) : Gold edged up on Thursday after the euro showed some resilience ahead of a European Union summit, which is unlikely to deliver new measures to tackle the region’s debt crisis and may prompt investors to turn to the safety of the U.S. dollar. Gold added $1.19 an ounce to $1,575.59 at 0251 GMT, having briefly risen above $1,581 on Wednesday on bargain hunting. The metal is on track for a more than 5 percent drop this quarter. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUPPORT1: 29866
SUPPORT2: 29768
RESISTANCE1: 30121
RESISTACE2: 30278
SILVER (JUL) – Silver also fell on speculative selling coupled with subdued industrial demand. Silver ready (.999 fineness) dropped by Rs 740 per kg to conclude at Rs 53,610 as against Rs 54,350 yesterday.
Silver for July contract fell by 48 cents to $ 27.04 an ounce. silver lost Rs 700 to Rs 53,700 per kg on fall in demand at prevailing higher levels among jewelers and industrial units. Silver is Expected resistance and support levels for today trade are as follows:
TREND CONSOLIDATE
SUPPORT1: 53939
SUPPORT2: 53526
RESISTANCE1: 54896
RESISTANCE2: 55440
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Stock Tips Equity Tips
In the MCX GOLD is to buy on dips. For the target of 32500-33000, with stop loss of 31000.
In the MCX SILVER at this point of time is to buy on dips. For the target of 65500-66900, with stop loss of 61300.
In MCX CRUDEOIL is to buy above 5440, for the targets of 5600. With stop loss of 5250.
In the MCX COPPER will be buy above 451, with the stop loss of 440 for the targets of 460.
