equity_tips'  Instablog

COPPER (JUN): Copper fell for a second day after the U.S. Federal Reserve cut growth forecasts and an expansion in stimulus program failed to meet some investor expectations. Three-month copper fell as much as 1.3 percent to $7,446.50 a metric ton on the London Metal Exchange and last traded at $7,462.75 at 10:57 a.m. Shanghai time. The contract slid by the most in almost two weeks yesterday. Copper for September delivery on the Comex dropped 0.7 percent to $3.3720 a pound..Expected resistance and support level for today trade are as follows.

TREND BULLISH

SUPPORT 1: 419.78

SUPPORT 2: 417.20

RESISTANCE 1: 422.68

RESISTANCE 2: 427.84

CRUDE OIL (JUL) - Oil rebounded from its biggest decline this year in New York, trimming a second weekly drop after a storm started to form in the Gulf of Mexico and prices approached a technical support level.

Futures gained as much as 0.6 percent after sliding 4 percent yesterday, the most since December

Expected resistance and support levels for the crude JUN contract are:

TREND CONSOLIDATE

SUPPORT1: 4619

SUPPORT2: 4570

RESISTANCE1: 4747.62

RESISTANCE2: 4820

GOLD (AUG) Gold was set for its worst weekly loss this year after the U.S. Federal Reserve didn't resume a debt purchase program even as the economy showed signs of slowing. Silver was poised for its worst week since December.

Spot gold fell as much as 0.3 percent to $1,561.75 an ounce before trading at $1,562.75 by 10:24 a.m. in Singapore, down 4 percent this week, the most since the five days to Dec. 16. Bullion dropped 2.6 percent yesterday, the most since Feb. 29

.Resistance and support levels for the today's session for Gold AUG contract 2012 are:

TREND BULLISH

SUPPORT1: 30097

SUPPORT2: 29896

RESISTANCE1: 30427

RESISTANCE2: 30508

SILVER (JUL) - Silver has been witnessing some selling pressure on higher levels. Some believes that it is going to Rs 55,000 per kilogram but at Rs 55,000 per kilogram we are seeing a good amount of selling coming in. Expects this to continue and silver might once again fall till Rs 53,000-53,200 per kilogram levels. So, analyst recommends selling silver on rallies at Rs 54,500 per kilogram with a stop loss of Rs 55,100 per kilogram for a downside target of Rs 53,200 per kilogram. Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT1: 53954

SUPPORT2: 53420

RESISTANCE1: 55023

RESISTANCE2: 55557.84

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