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FREE COMMODITY TIPS AND COMMODITY TRADING LEVELS FOR 4TH JUNE 2012

Commodity News and Insights for Traders and Investors

COPPER (JUN) - Expected resistance and support level for today trade are as follows:

TREND BEARISH

SUPPORT 1: 402.50

SUPPORT 2: 394.60

RESISTANCE 1: 417.90

RESISTANCE 2: 421.55

CRUDE OIL (JUN) - Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world's biggest crude consumer countered concern Europe's debt crisis will worsen..Expected resistance and support levels for the crude JUN contract are:

TREND BEARISH

SUPPORT 1: 4480

SUPPORT 2: 4345

RESISTANCE 1: 4732

RESISTANCE 2: 4870

GOLD (JUN) -Gold had plummeted following a massive surge in the US dollar on worries of exit- Greece being ousted from Eurozone and returning to its old currency. Resistance and support levels for the today's session for Gold JUN contract which will expire IN JUNE 2012 are:

TREND BULLISH

SUPPORT 1: 28830

SUPPORT 2: 28745

RESISTANCE 1: 29675

RESISTANCE 2: 29290

SILVER (JUL) - Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:

TREND BULLISH

SUPPORT 1: 28830

SUPPORT 2: 28745

RESISTANCE 1: 29675

RESISTANCE 2: 29290

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Free Commodity Market Overview

Red ticks are set to invade your trading screen, as concerns about the US economy and slowdown in China add to ongoing problems in Europe. Domestic problems have only got compounded with the dismal GDP report.

The much weaker-than-expected US jobs data has raised fresh doubt about the health of the world's largest economy. The S&P 500 index is below 200-DMA while the Dow has erased its gain for 2012. The S&P 500 and the Nasdaq are down over 10% from the year's highs.

Flight to safety continues, with investors flocking to US treasuries and gold. With every passing day, investor confidence is taking one knock after the other.

There could be more pain in the near term, as policymakers across the globe struggle to address their economies woes. Stick to a defensive portfolio as there doesn't seem to be any safe place to hide.

Technically: The Nifty last week succumbed to fresh selling pressure and formed a bearish engulfing pattern on candlestick chart. It thus violated a long-term trend line support below 4860 levels. A move below 4788 will lead to breakdown below the three week's low and would be suffice to aggravate selling pressure in the near term.

Daily Free Commodity Tips and Free Commodity News Updates

Gold Price

Limited scope for further declines in U.S. bond yields may increase gold's popularity with investors seeking a quality asset, said HSBC, British multinational bank, in a commodity research note.

Silver Price

india gold and silver imports declined sharply in April this year, as per latest official figures released on Friday. India is the world's largest gold and silver importer.

Copper Price
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