COPPER (JUN): Copper rose in London, rebounding from the longest losing streak since September, after China eased reserve requirements to stoke lending in the world's biggest consumer of the metal. Copper for three-month delivery settled 0.7 percent higher at $8,235.50 a metric ton on the London Metal Exchange. Prices slid 6.7 percent over six sessions before today. Copper for May delivery rose 1.1 percent to $3.7565 a pound by 1:06 p.m. on the Comex in New York, where floor trading was closed today for the Presidents' Day holiday..Expected resistance and support level for today trade are as follows.
SUPPORT 1: 414.60
SUPPORT 2: 406.85
RESISTANCE 1: 428.40
RESISTANCE 2: 433.55
CRUDE OIL (JUL) - Oil dropped to the lowest price in eight months in New York after U.S. stockpiles unexpectedly increased and a report signaled China's manufacturing will shrink this month. Oil for August delivery slid as much as $1.24 to $80.21 a barrel, the lowest price for a front-month contract since Oct. 6, in electronic trading on the New York Mercantile Exchange. It was at $80.35 at 1:55 p.m. Sydney time. The July contract, which expired yesterday, fell $2.23 to $81.80. Futures are down 19 percent this year. Expected resistance and support levels for the crude JUN contract are:
GOLD (AUG) - Gold fell $28.82 to as low as $1590.78 just after the fed's announcement before it climbed back above $1620 over the next couple of hours of trade, but it then fell back off into the close and ended with a loss of 0.82%. Silver slipped to $27.73 just after the fed's announcement before it also bounced back higher, but it then dropped again in late trade and ended with a loss of 1.23%.Resistance and support levels for the today's session for Gold AUG contract 2012 are:
SILVER (JUL) - MCX SILVERMIC June contract was trading at Rs 54525.00 up Rs 48.00, or 0.09%. It touched an intraday high of Rs 54575.00 and an intraday low of Rs 54322.00. So far 36254 contracts have been traded. MCX SILVERMIC August contract was trading at Rs 55839.00 up Rs 22.00, or 0.04%. It touched an intraday high of Rs 55889.00 and an intraday low of Rs 55670.00. So far 5547 contracts have been traded.
Silver is Expected resistance and support levels for today trade are as follows.
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