COPPER (AUG): Copper edged up on Tuesday, underpinned by expectations the United States and Europe would introduce fresh easing measures this week, while traders were cautious ahead of China factory data that could offer new trading cues. Three-month copper on the London Metal Exchange traded at $7,577 a ton by 0248 GMT, up 0.38 percent from the previous session when it closed almost unchanged. Expected resistance and Support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 416.08,
SUPPORT 2: 412.40,
RESIST 1: 425.10,
RESIST 2: 430.30,
CRUDE OIL (AUG): Oil traded near the highest level in a week in New York on speculation US and European policy makers will act to boost growth and concern that unrest in the Middle East may spread and disrupt supplies.
Crude for September delivery was at $90.25 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange. The contract climbed 0.8% to $90.13 on July 27 for a fourth day of gains and the highest close since July 20. Prices are up 6.2% this month. Expected resistance and support levels for the crude AUG contract are:
Crude for September delivery was at $90.25 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange. The contract climbed 0.8% to $90.13 on July 27 for a fourth day of gains and the highest close since July 20. Prices are up 6.2% this month. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUP1: 4910,
SUP2: 4836,
RESIST1: 5050,
RESIST2: 5130,
GOLD (AUG): Gold eased below $1,620 an ounce on Monday, taking its cue from a weaker euro. Spot gold was down 0.3% at $1,618.80 an ounce, while US gold futures for August Delivery were down 20 cents an ounce at $1,617.80. Indian gold prices were steady. The most-active gold for August delivery on the MCX was 0.01% lower at Rs 29,792 per 10 gm after trading flat for three sessions in a row. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUP1: 29710,
SUP2: 29635,
RESIST1: 29868,
RESIST2: 29940,
SILVER (SEP): Precious metal, silver rose. Silver metal have been underperforming gold so far this year. Silver gained 1.7 percent at $28.21 an ounce, set for its first monthly gain in five. Its run of four straight monthly losses to June was its longest such streak since 2000.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 53360,
SUP2: 52872,
RESIST1: 54362,
RESIST2: 54970,
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