Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

COMMODITY NEWS AND TRADING LEVELS FOR 30TH APRIL 2012

COPPER (APR) - Base metals accentuated and headed for the second consecutive weekly gains on Friday, 27th April. The rise in global equities and euro helped the metals to extend its gains and improved the risk appetite. Likewise at MCX, Copper for delivery in April was trading higher by 0.3% or Rs. 1.35 at Rs. 437.55 per kg. Expected resistance and support level for today trade are as follows:

TREND BULLISH

SUPPORT 1: 441.55

SUPPORT 2: 437.35

RESISTANCE 1: 447.45

RESISTANCE 2: 450.85

CRUDE OIL (May) - International oil price politics have returned to the frontage, including obvious pressure from consuming governments for policy actions to dampen the oil market. Among the most prominent of those caught in the middle of this renewed flaring of oil price politics is of course Saudi Arabia. Expected resistance and support levels for the crude may contract with expiry date of 19 APRIL 2012 are:

TREND BULLISH

SUPPORT 1: 5425

SUPPORT 2: 5305

RESISTANCE 1: 5615

RESISTANCE 2: 5705

 

GOLD (NYSEARCA:JUNE) -Gold rose well above $1660 per ounce today, adding to the prior session's gains on follow up buying and ideas that global central bankers would continue to execute money printing operations and debase their currencies. MCX Gold futures for June have broken above Rs. 29000 per 10 grams and currently trade at Rs. 29103, up Rs. 73 per 10 grams on the day. Resistance and support levels for the today's session for Gold June contract which will expire on June 2012 are:

TREND BULLISH

SUPPORT 1: 29015

SUPPORT 2: 28925

RESISTANCE 1: 29225

RESISTANCE 2: 29335

SILVER (NYSE:MAY) - Investors are losing their interest in gold and are putting their money in silver, latest data released by the London Bullion Market Association (LBMA) shows. LBMA represents the wholesale over-the-counter market for gold and silver in London. Silver's Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT 1: 55705

SUPPORT 2: 55595

RESISTANCE 1: 55965

RESISTANCE 2: 56095

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

Enjoy Free Commodity Tips

http://free-commodity-tips.blogspot.in/2012/04/commodity-news-and-trading-levels-for_30.html