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FREE COMMODITY TIPS AND COMMODITY TRADING LEVELS FOR 7TH JUNE 2012

Commodity News and Insights for Traders and Investors
COPPER (JUN) - Copper rose again, benefitting from a weaker dollar as investors looked to the European Central Bank for a possible solution to the euro zone debt crisis which has hurt raw material demand. The ECB meeting comes a day after finance ministers from the world's seven major economies discussed financial and fiscal union in Europe and agreed to work together to deal with the problems in Spain and Greece, but took no joint action. Expected resistance and support level for today trade are as follows:

TREND CONSOLIDATE

SUPPORT 1: 402.50

SUPPORT 2: 394.60

RESISTANCE 1: 417.90
RESISTANCE 2: 423.70

CRUDE OIL (JUN) - Oil advanced for a fourth day in New York as policy makers in the U.S. and Europe indicated they may take steps to boost their economies and Iran signaled it will take a hard line in nuclear talks.. Expected resistance and support levels for the crude JUN contract are:

TREND BULLISH

SUPPORT 1: 4626
SUPPORT 2: 4422

RESISTANCE 1: 4880
RESISTANCE 2: 4920

GOLD (NYSEMKT:AUG) - The ECB is expected to indicate a readiness to cut interest rates as soon as next month but hold back from policy moves, after a Group of Seven emergency conference call on Tuesday failed to produce any concrete solution. Gold has held steady above $1,600 an ounce since it rallied 4.3 percent last Friday, as investors expect further monetary easing from the central banks, especially the U.S. Federal Reserve, after data showed a surprisingly weak job market. Resistance and support levels for the today's session for Gold JUN contract which will expire IN JUNE 2012 are:

TREND BULLISH

SUPPORT 1: 29880
SUPPORT 2: 29635

RESISTANCE 1: 30380
RESISTANCE 2: 30555

SILVER (JUL) - Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:

TREND BULLISH

SUPPORT 1: 53320
SUPPORT 2: 52813

RESISTANCE 1: 56535

RESISTANCE 2: 57530

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Free Commodity Market Overview

Suddenly, the world seems to be a better place for embarrassed investors. Hopefully, the current relief rally may still have some steam left in it. So, convert this opportunity into profit before fresh bad news drags things back. The opening is likely to be positive again. Use every rise to make profit , as we seem to be facing just a technical swing upward . The mammoth of problems that the markets are confronting is yet to be addressed .No doubt, headlines telling about action on various areas by the Centre but by now we of course have learnt to wait and watch for some real outcome.

The eurozone remains at the core of the current mess. Doubts are also being raised about the strength of the US and Chinese economies. Market players are hoping for emergency intervention by central banks but the same may not come thorough. The ECB's move to refrain from cutting rates or committing to more LTRO is case in point.Investors will tune into Fed chief Ben Bernanke's testimony to Congress today to see if he drops any hints on QE3. Also watch out for an important Spanish debt auction.