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COMMODITY NEWS AND TRADING LEVELS FOR 7TH MAY 2012

COPPER (JUN) - Expected resistance and support level for today trade are as follows:

SUPPORT 1: 436.55

SUPPORT 2: 432.25

RESIST 1: 444.65

RESIST 2: 448.75

CRUDE OIL (NYSE:MAY) - Crude Oil prices have been rising for several months amid an EU states' boycott of oil supplies from Iran, Oil traders are also concerned about the possibility of a future war with Iran as well as wider political instability in the Middle East, including the crisis in Syria. Expected resistance and support levels for the crude MAY contract with expiry date of MAY 2012 are:

SUPPORT 1: 5415

SUPPORT 2: 5305

RESISTANCE 1: 5605

RESISTANCE 2: 5715

GOLD (NYSEARCA:JUNE) - Gold's ability to edge higher at the start of the week is impressive considering the lack of retail jewelry demand in India due to a protest by jewelers. Resistance and support levels for the today's session for Gold JUNE contract which will expire on JUNE 2012 are:

SUPPORT 1: 29015

SUPPORT 2: 28865

RESISTANCE 1: 29315

RESISTANCE 2: 29485

SILVER (MAY) - On domestic front Silver's Expected resistance and support levels for today trade are as follows:

SUPPORT 1: 55140

SUPPORT 2: 55045

RESISTANCE 1: 55365

RESISTANCE 2: 55495

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