Today: Small trading range but some support were saw at lower level. Time being consider support 29160 and resistance 29465-29500 watch out.
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Free commodity tips and commodity trading levels for 29th june 2012
COPPER (JUN): Supported by a firming trend overseas and a pick-up in domestic demand, copper prices today rose by 0.36% to Rs 421.55 per kg in futures trade.At the MCX, copper for delivery in June rose by Rs 1.50, or 0.36%, to Rs 421.55 per kg, with a turnover of 2,631 lots. Market analysts besides pick up in spot demand, a firming trend in metal at the LME on encouraging US economic data, led to a rise in copper futures prices here. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 414.00
SUPPORT 2: 417.00
RESISTANCE 1: 422.20
RESISTANCE 2: 424.40
CRUDE OIL (JUL) Crude oil futures fell 3% on Thursday, heading for the worst quarterly performance since the 2008 financial debacle, on worries that an EU summit will not find durable solutions to the euro zone crisis, stifling global growth prospects. By 2:40 pm EDT (l840 GMT), Brent crude oil futures traded in London at USD 91.63, down USD 1.87, after having slid to a session low of USD 90.88.
Expected resistance and support levels for the crude JUN contract are:
TREND CONSOLIDATE
SUPPORT1: 4540
SUPPORT2: 4481
RESISTANCE1: 4648
RESISTANCE2: 4697
GOLD (AUG) Gold extended losses as crude oil and U.S. equities tumbled after the Supreme Court upheld President Barak Osama’s healthcare law, which assesses a financial penalty to individuals who do not obtain health insurance. Spot gold was down 1.4 percent at $1,553.10 an ounce by 3:16 p.m. EDT (1916 GMT), having earlier hit a four-week low at $1,547.39. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUPPORT1: 29878
SUPPORT2: 29759
RESISTANCE1: 30127
RESISTANCE2: 30257
SILVER (JUL) – Silver, which has industrial uses that gold lacks, exceeded gold's losses Thursday. Silver is used in electronics, solar panels and photography. The July-delivery contract slumped 2.6% to settle at $26.247 an ounce. That is the lowest ending price since November 2010.. Silver is Expected resistance and support levels for today trade are as follows:
TREND CONSOLIDATE
SUPPORT1: 53717
SUPPORT2: 53329
RESISTANCE1: 54268
RESISTANCE2: 55151
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Today: Small trading range but some support were saw at lower level. Time being consider support 29160 and resistance 29465-29500 watch out.
Stock Tips Equity Tips
Better strategy in the MCX GOLD is to sell below 31450. For the target of 31100, with stop loss of 31850.
Better strategy in the MCX SILVER at this point of time is to buy above 64850. For the target of 65750-67500, with stop loss of 62500.
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