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  • COMMODITY NEWS AND TRADING LEVELS FOR 30TH APRIL 2012 0 comments
    Apr 30, 2012 4:42 AM

    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 (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

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

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