equity_tips'  Instablog

COPPER (AUG): The European debt crisis and disappointing growth in the United States and China are worrisome, but the U.S. economy is still some way from needing more asset-buying stimulus, a U.S.Federal Reserve policymaker said on Tuesday. Three-month copper on the London Metal Exchange had inched up just 0.3 percent to $7,511.75 per ton by 0109GMT, after losing 0.9 percent on Tuesday. Expected resistance and support level for today trade are as follows:

TREND CONSOLIDATE

SUPPORT 1: 423.80

SUPPORT 2: 422.30

RESISTANCE 1: 426.60

RESISTANCE 2: 427.90

CRUDE OIL (JUL) : U.S. crude futures rose on Wednesday to trade above $84, regaining a little ground after falling more than 2 percent a day earlier on the back of an averted oil workers' strike in Norway and weak China crude import data. NYMEX crude for August delivery was up 29 cents at $84.20 barrel by 2331 GMT, after settling down $2.08 at $83.91 on Tuesday. Expected resistance and support levels for the crude JUN contract are:

TREND BULLISH

SUPPORT1: 4752

SUPPORT2: 4700

RESISTANCE1: 4834

RESISTANCE2: 4864

GOLD (AUG): Spot gold firmed on Wednesday, after posting its biggest one-day decline since late June as a meeting of euro zone finance ministers disappointed some investors looking for more progress on resolving the region's debt crisis. Spot gold gained 0.4 percent to $1,574.50 an ounce by 10.49 p.m. EDT On Tuesday, after losing 1.4 percent on Tuesday. The U.S. gold futures contract for August delivery edged down 0.3 percent to $1,574.80.Resistance and support levels for the today's session for Gold AUG contract 2012 are:

TREND CONSOLIDATE

SUPPORT1: 29591

SUPPORT2: 29525

RESISTANCE1: 29701

RESISTANCE2: 29745

SILVER (SEP): Silver futures for September delivery fell 2 percent to $26.882 an ounce in New York. SILVER prices on MCX were trading lower. At 16:02 hrs MCX SILVER September contract was trading at Rs 53270.00 down Rs 274.00, or 0.51%. The SILVER rate touched an intraday high of Rs 53551.00 and an intraday low of Rs 53075.00. So far 18356 contracts have been traded. SILVER prices have moved down Rs 7130.00 or 11.80% in the September series so far. Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT1: 53285

SUPPORT2: 53026

RESISTANCE1: 53691

RESISTANCE2: 53838

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