Commodity Market Update: 30th July 2012

Gold prices are expected to trade  higher to the tune of 29900 – 29950, one could buy mcx gold on dips around 29700 - 29670 as  we expect some profit booking. Fresh buying in gold commodity can be initiated if sustains above 29910.
GOLD LEVELS
R:-29930/30170
S:-29710/29550

Silver prices, after a  long consolidation has crossed the resistance of 53100  – 53300. We expect silver commodity prices to trade positive and test 54000  –54300. Buying mcx silver on dips is recommended around 53100 – 53000.
SILVER LEVELS
R:- 53700/54100
S:-52700/52200

Crude prices are expected to test higher around the resistance at 5055 -5060.  We expect buying for crude commodity at 5000 level with a stop loss below 4940. One could be caution around 5055 -5060.
CRUDE LEVELS
R:- 5040/5150
S:-4950/4870

Copper prices are likely to trade within the range from 415 to 425. One can buy mcx copper commodity around 419 with a stop loss below 415.50.
COPPER LEVELS
R:- 422/427
S:-417/414

Quick Commodity Tips:30th July 2012

Buy Crude @ 5000 SL 4940 TGT 5040-5150
Buy Copper around 419 SL 415.50 TGT 422-414