Thursday, May 10, 2012

Today's Commodity Market Recommendations


Gold prices are likely to head lower to the tune of the level 28200 – 28150. One can sell gold commodity on rise around 28500  -28470 with a stop loss above 28630.oscillators are  in turning down. Expected levels for gold for today are resistance level -28760/28870 and support level-28420/28270.

Silver prices are expected to trade lower and test 54400. Oscillators are in over sold zone hence aggressive selling not advised in silver.Today's expected levels for silver should be resistance level -55300/55780 and support level 54200/53500.

Copper prices have failed to cross 440 on higher end indicating lack of buying interest, one can witness selling pressure in copper commodity to the tune of  430. Oscillators indicating flat to down move. We can find expected levels are resistance level -439/442 and support level 434/431.

Crude prices as expected test the resistance zone at 5225 – 5235 on higher end and witnessed selling pressure in today's commodity market. We expect selling pressure in crude to continue, one can sell crude on rise till 5185 -5195. Levels should be resistance level -5235/5275 and support 5125/5056.

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