Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

FREE COMMODITY TIPS AND COMMODITY TRADING LEVELS FOR 6TH JULY 2012

Commodity News and Insights for Traders and Investors

COPPER (AUG): Three-month copper on the London Metal Exchange edged up 0.3 percent to $7,714.75 per metric ton (1.1023 tons) by 9.05 p.m. EDT on Thursday, on track to post a second consecutive week of gains this week. The most-active October copper contract on the Shanghai Futures Exchange edged up 0.1 percent to 56,030 Yuan ($8,800) per metric ton, on track to post a 1.9 percent rise on the week. Expected resistance and support level for today trade are as follows.

TREND CONSOLIDATE

SUPPORT 1: 425.80

SUPPORT 2: 422.25

RESISTANCE 1: 430.55

RESISTANCE 2: 433.55

CRUDE OIL (JUL) : Oil futures eased Thursday, as a stronger U.S. dollar and shrinking hopes for aggressive U.S. stimulus measures overshadowed an unexpectedly large decline in U.S. crude inventories. Light, sweet crude for August delivery fell 44 cents, or 0.5%, to settle at $87.22 a barrel on the New York Mercantile Exchange. Statoil said the shortfall in its production will be around 1.2 million barrels of oil equivalent a day..Expected resistance and support levels for the crude JUN contract are:

TREND BULLISH

SUPPORT1: 4752

SUPPORT2: 4728

RESISTANCE1: 4792

RESISTANCE2: 4808

GOLD (NYSEMKT:AUG): Gold remained on track for second straight week of gains on Friday, though it was little changed from the day before as investors waited for more U.S.jobs data to help gauge the health of the world's top economy and provide trading cues. Spot gold was little changed at $1,605.19 an ounce by0313 GMT on Friday, on course for a weekly rise of 0.4 percent. The U.S. gold futures contract for August delivery edged down 0.2 percent to $1,605.90.Technical analysis suggested that spot gold could fall to$1,586 an ounce during the day, said Reuters market analyst WangTao. Resistance and support levels for the today's session for Gold AUG contract 2012 are:

TREND CONSOLIDATE

SUPPORT1: 29610

SUPPORT2: 29470

RESISTANCE1: 29850

RESISTANCE2: 29970

SILVER (NYSE:SEP): Silver futures for September delivery slid 2.1 percent to $27.672 an ounce. Silver, the poor man's gold, to average $38 an ounce in the fourth quarter this year and to average $42/oz in 2013, said Deutsche Bank, the largest bank in Germany, in a quarterly commodities research note.Silver is Expected resistance and support levels for today trade are as follows.

TREND CONSOLIDATE

SUPPORT1: 53627

SUPPORT2: 53523

RESISTANCE1: 53833

RESISTANCE2: 53935

Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices.

FREE COMMODITY TIPS

Free Commodity Market Overview

India's main indices will be cautious at start, tracking the weak global cues.The Rupee is still under pressure as overseas investors are not convinced about ongoing attempts to shore up growth. Foreign investors are perhaps waiting for more certain action, which is unlikely this month due to the Presidential election.

Sometimes markets behave in a confusing way. The reaction of world equity markets to monetary easing by three top central banks falls is the good example of this trait. Major global stock indices have lost ground despite the monetary stimulus unleashed by central banks in China, Europe and the UK to contain the global economic mess.

As always, the month-end RBI policy meeting will be important after the fresh policy easing done by other central banks. Before that, we will have to face with data on industrial production and WPI inflation. Progress of monsoon and corporate earnings are among the other key variables.

Friday's monthly jobs data out of the US will be closely tracked to gauge the state of the world's largest economy.