Thursday, May 3, 2012

Commodity Levels For Today's Market


Free Gold, silver, Copper and Crude commodity updates for today's Market

Gold prices are  facing some resistance at these levels so we can expect some correction at this point in time so try to buy on lower levels around 28950-29000 levels with stop below 28700.
Expected resistance levels for gold commodity are 29290/29425 and support levels for gold should be 29090/29000

Silver commodity prices are really not moving out of the range we should wait for the right move and  currently the trend could trigger downside if it breaches the 56000 mark close below the same.
Today's expected levels for silver commodity are resistance level 56800/57200 support level 56400/56000.

In copper the only counter showing some overbought scenario so we can see some correction in the counter so try to sell on rise till 448-49 for the target of 442-40.  Over all the counter showing  positive momentum in copper commodity, but wait for some correction to go long. Today's expected levels for copper should be 447/451 (resistance level) and 442/439 (support level).

In the crude commodity market same view maintained ,crude prices have given a breakout and likely to hit the next levels of 5700 and we should buy crude on dips bet 5530-40 for the target of 5700-5730. We can go for the following levels for crude commodity, resistance level 5635/5710 and support level 5570/5535.

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