equity_tips'  Instablog

COPPER (AUG) : Copper traders are the most bearish in six weeks on concern demand will slow in China, Europe and the US at a time when hedge funds are betting on lower prices. Copper fell 0.3% to $7,577 a tonne this year on the London Metal Exchange after slumping 21% last year. The MSCI World Index of equities gained 2% since the start of January and the S&P GSCI gauge of 24 commodities slid 4.6%.Resistance and support levels for the today's session for Copper AUG contract 2012 are:

TREND CONSOLIDATE

SUPPORT1: 419.70

SUPPORT2:414.30

RESISTANCE1: 435.00

RESISTANCE2: 438.00

CRUDE OIL (JUL) - Oil rallied for a third day on Friday after China's economy expanded in line with expectations, easing concerns a slowdown in Europe was hurting a lot more than expected. Even though China's growth slowed for the sixth successive quarter, Asian shares and the euro extended their rally on Monday on signs steps Beijing had taken so far were underpinning the economy. Expected resistance and support levels for the crude JUL contract are:

TREND CONSOLIDATE

SUPPORT1: 4703

SUPPORT2: 4565

RESISTANCE1: 4820

RESISTANCE2: 4900

GOLD (AUG) - Spot gold traded nearly flat at $1,590.59 an ounce by 0023 GMT, after rallying 1 percent on Friday. US gold futures contract for August was also little changed from Friday's close, standing at $1,590.50. Resistance and support levels for the today's session for Gold AUG contract 2012 are:

TREND CONSOLIDATE

SUPPORT1: 29105

SUPPORT2: 28760

RESISTANCE1: 30180

RESISTANCE2: 30345

SILVER (SEP) - Silver for July delivery was little changed at $28.925 an ounce. Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT1: 52060

SUPPORT2: 51485

RESISTANCE1: 53000

RESISTANCE2: 53580

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