COPPER (JUN): Supported by a firming trend overseas and a pick-up in domestic demand, copper prices today rose by 0.36% to Rs 421.55 per kg in futures trade.At the MCX, copper for delivery in June rose by Rs 1.50, or 0.36%, to Rs 421.55 per kg, with a turnover of 2,631 lots.Market analysts besides pick up in spot demand, a firming trend in metal at the LME on encouraging US economic data, led to a rise in copper futures prices here. Expected resistance and support level for today trade are as follows.
SUPPORT 1: 414.00
SUPPORT 2: 417.00
RESISTANCE 1: 422.20
RESISTANCE 2: 424.40
CRUDE OIL (JUL) Crude oil futures fell 3% on Thursday, heading for the worst quarterly performance since the 2008 financial debacle, on worries that an EU summit will not find durable solutions to the euro zone crisis, stifling global growth prospects. By 2:40 pm EDT (l840 GMT), Brent crude oil futures traded in London at USD 91.63, down USD 1.87, after having slid to a session low of USD 90.88.
Expected resistance and support levels for the crude JUN contract are:
GOLD (AUG) Gold extended losses as crude oil and U.S. equities tumbled after the Supreme Court upheld President Barak Osama's healthcare law, which assesses a financial penalty to individuals who do not obtain health insurance. Spot gold was down 1.4 percent at $1,553.10 an ounce by 3:16 p.m. EDT (1916 GMT), having earlier hit a four-week low at $1,547.39. Resistance and support levels for the today's session for Gold AUG contract 2012 are:
SILVER (JUL) - Silver, which has industrial uses that gold lacks, exceeded gold's losses Thursday. Silver is used in electronics, solar panels and photography. The July-delivery contract slumped 2.6% to settle at $26.247 an ounce. That is the lowest ending price since November 2010.. Silver is Expected resistance and support levels for today trade are as follows:
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