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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Commodity News and Insights for Traders and Investors

COPPER (AUG): London copper edged down on Thursday as investors closed positions on caution ahead of data on China's second-quarter growth that markets fear could be its slowest in more than three years. The data is due around 2200 EDT. Three-month copper on the London Metal Exchange inched down 0.3 percent to $7,535 per metric ton (1.1023 tons) by 2101 EDT, after rising 0.2 percent on Thursday, on track to end the week up 0.2 percent. Expected resistance and support level for today trade are as follows.

TREND CONSOLIDATE

SUPPORT 1: 419.77

SUPPORT 2: 415.63

RESISTANCE 1: 425.20

RESISTANCE 2: 427.90

CRUDE OIL (JUL): Oil rose after the U.S. announced more sanctions on Iran, the second-biggest crude-producing member of the Organization of Petroleum Exporting Countries. Crude oil for August delivery increased 27 cents to settle at $86.08 a barrel on the New York Mercantile Exchange. Prices have decreased 13 percent this year. The Brent market is focused on the nearby maintenance that will hurt production.Expected resistance and support levels for the crude JUN contract are:

TREND CONSOLIDATE

SUPPORT1: 4700

SUPPORT2: 4605

RESISTANCE1: 4850

RESISTANCE2: 4930

GOLD (AUG): Gold edged slightly higher right after China released its second-quarter growth data, which showed the world's second-largest economy grew at the slowest pace since early 2009 but may have stabilized. Gold could fall to $1,480 an ounce if it breaks the immediate support level at $1,520, he added. Spot gold was little changed at $1,570.14 an ounce by 0333 GMT, heading for a weekly decline of 0.8 percent. The U.S. gold futures contract for August delivery edged up 0.3 percent to $1,570.10.Résistance and support levels for the today's session for Gold AUG contract 2012 are:

TREND BEARISH

SUPPORT1: 29110

SUPPORT2: 29030

RESISTANCE1: 29333

RESISTANCE2: 29501

SILVER (SEP): Silver recovered on the bullion market today on fresh local buying at existing lower levels amid a better trend in overseas markets. silver ready rebounded by Rs 100 to Rs 52,300 per kg and weekly-based delivery by Rs 50 to Rs 52,585 per kg. The white metal had lost Rs 1000 in the previous two trading sessions. Meanwhile, silver coins continued to be asked around previous level of Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.Silver is Expected resistance and support levels for today trade are as follows:

TREND CONSOLIDATE

SUPPORT1: 52479

SUPPORT2: 51990

RESISTANCE1: 53489

RESISTANCE2: 53967

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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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