ECONOMY DATA TODAY 27 AUGUST 2012
| CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
| EUR | German Ifo Business Climate | 1:30pm | 102.9 | 103.3 |
| EUR | German Import Prices m/m | 11:30am | 1.0% | -1.5% |
| USD | FOMC Member Pianalto Speaks | 9:45pm | | |
COMMODITY UPDATES 24 AUGUST 2012
Gold seen at $1,640-$1,700/oz until Oct
MCX GOLDM October contract trading flat
Gold is not a great investment vista
COMMODITY TRADING LEVELS FOR 24 AUGUST 2012
COPPER (AUG): Copper dropped on Friday, coming off one-month highs hit in the previous session as hopes for more U.S. stimulus measures faded and on worrying signs that Spain, the fourth-largest economy in the euro zone, could need sovereign aid. Three-month copper on the London Metal Exchange fell0.8 percent to $7,623 per ton by 0702 GMT, but prices were on track for about a 1 percent gain this week -- a third straight weekly rise. Expected resistance and support levels for the COPPER AUG contract are:
TREND BULLISH
SUPPORT 1: 417.53
SUPPORT 2: 412.08
RESISTANCE 1: 428.65
RESISTANCE 2: 437.55
CRUDE OIL (SEP): Nymex crude oil prices declined around 1 percent yesterday on the back of rise in US jobless claims coupled with expectations that Euro Zone policymakers will not be able to take concrete steps to curtail Euro Zone debt crisis. Crude oil prices touched an intra-day low of $95.75/bbl and closed at $96.30/bbl in yesterday’s trading session. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 5220
SUPPORT 2: 5130
RESISTANCE 1: 5430
RESISTANCE 2: 5550
GOLD (OCT): Gold rose 1 percent to a four-month high above $1,670 an ounce on Thursday, bolstered by hopes for a new round of U.S. monetary stimulus and news that Spain is negotiating conditions for a possible aid package. Spot gold gained 0.9 percent to $1,668.70 an ounce by 2:25 p.m. EDT (1825 GMT), having risen 3.5 percent so far this week. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND BULLISH
SUPPORT 1: 30620
SUPPORT 2: 30350
RESISTANCE 1: 31020
RESISTANCE 2: 31250
SILVER (SEP): Silver rose 2.2 percent to $30.49 an ounce. Silver surged 2 percent. Precious metals received a boost after sources told Reuters Spain is in talks with the euro zone over conditions for international aid, even though the country has made no final decision to request a bailout. Silver is Expected resistance and support levels for today trade are as follows.
TREND BULLISH
SUPPORT 1: 56010
SUPPORT 2: 55750
RESISTANCE 1: 57500
RESISTANCE 2: 57900
ECONOMY DATA TODAY 24 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Core Durable Goods Orders m/m | 6:00pm | 0.5% | -1.4% |
USD | Durable Goods Orders m/m | 6:00pm | 2.8% | 1.3% |
EUR | Belgium NBB Business Climate | 6:30pm | -10.8 | -11.3 |
COMMODITY UPDATES TODAY 23 AUGUST 2012
- MCX SILVERM August contract rises 2.3%
- MCX GOLDM Nov contract gains 1%
- Gold prices surge in major metros in India
COMMODITY TIPS 23 AUGUST 2012
BUY COPPER AUG ABOVE 425.45 FOR TARGET OF RS 426.45,427.7, 428.95 KEEP STOP LOSS AT 423.45
COMMODITY TRADING LEVELS FOR 23 AUGUST 2012
COPPER (AUG): London copper rallied to a one-month high on Thursday after the U.S. Federal Reserve signaled that further stimulus might be on the agenda, and after shrinking factory growth numbers out of top metals consumer China also raised prospects for further easing there. Three-month copper on the London Metal Exchange traded at $7,681 per ton at 0704 GMT, up 1 percent and having earlier hit $7,687.50, which was the highest since July 20. Prices edged out of negative territory on Thursday and are now close to levels seen at the start of the year. Expected resistance and support levels for the COPPER AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 416.16
SUPPORT 2: 411.16
RESISTANCE 1: 427.92
RESISTANCE 2: 432.76
CRUDE OIL (SEP): Crude advanced in Asia today as hopes rose that the US Federal Reserve would kick start the economy of the world’s largest oil consumer, analysts said. New York’s main contract, light sweet crude for delivery in October, rose 43 cents to $97.69 a barrel and Brent North Sea crude for October delivery gained 48 cents to $115.39. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 5250
SUPPORT 2: 5170
RESISTANCE 1: 5470
RESISTANCE 2: 5550
GOLD (OCT): Gold rose to its highest level in more than three months on Thursday, after minutes from the latest US Federal Reserve meeting showed the central bank could be willing to launch another round of bond buying soon. Spot gold climbed to $1,656.46 an ounce, its highest since May 2, before easing slightly to $1,654.16.The U.S. gold futures contract for December delivery gained nearly 1 percent to $1,656.50. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 30220
SUPPORT 2: 30050
RESISTANCE 1: 30450
RESISTANCE 2: 30600
SILVER (SEP): Silver over the next two-three days. The metal is expected to go around USD 34-35 per ounce in the international market. SILVER prices on MCX surged today. At 11:07 hrs MCX SILVER September contract was trading at Rs 56475.00 up Rs 1166.00, or 2.11%. The SILVER rate touched an intraday high of Rs 56481.00 and an intraday low of Rs 55425.00. So far 14682 contracts have been traded. SILVER prices have moved down Rs 3925.00 or 6.50% in the September series so far. Silver is Expected resistance and support levels for today trade are as follows.
TREND BULLISH
SUPPORT 1: 54850
SUPPORT 2: 54420
RESISTANCE 1: 55650
RESISTANCE 2: 56050
ECONOMY DATA TODAY 23 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | New Home Sales | 7:30pm | 362K | 350K |
USD | Unemployment Claims | 6:00pm | 365K | 366K |
USD | Flash Manufacturing PMI | 6:30pm | 28.2K | 26.3K |
EUR | German Flash Manufacturing PMI | 1:00pm | 43.6 | 43.0 |
EUR | German Flash Services PMI | 1:00pm | 50.2 | 50.3 |
COMMODITY UPDATES TODAY 21 AUGUST 2012
- MCX SILVERM November contract gains
- MCX GOLDM October contract firms up
- Spot silver rates trading higher
ECONOMY DATA TODAY 22 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | FOMC Member Lockhart Speaks | 5:30pm | ||
AUD | Monetary Policy Meeting Minutes | 7:00am | ||
NZD | Inflation Expectations q/q | 2.3% | 2.4% | |
GBP | Public Sector Net Borrowing | -1.8B | -2.7B | 12.2B |
GBP | CBI Industrial Order Expectations | -21 | -8 | -6 |
COMMODITY UPDATES 21 AUGUST 2012
- India's Sept-Dec gold imports seen down 40%
- MCX SILVERMIC August contract trading higher
- MCX GOLDM October contract trades flat
COMMODITY TRADING LEVELS FOR 22 AUGUST 2012
COPPER (AUG): Copper rose on Tuesday on a surge in Shanghai equities and a weaker dollar, although prices look set to stay in a tight range as investors wait for more trading cues. Three-month copper on the London Metal Exchange rose0.8 percent to $7,517.50 per ton by 0739 GMT, after dropping1.1 percent in the previous session. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 407.88
SUPPORT 2: 402.38
RESISTANCE 1: 421.63
RESISTANCE 2: 428.13
CRUDE OIL (SEP): Oil traded near the highest close in three months in New York before a meeting of European leaders on the region’s debt crisis, even as a report is forecast to show stockpiles rose in the U.S., the world’s biggest crude consumer. Crude for September delivery was up as much as 40 cents at $96.37 a barrel in electronic trading on the New York Mercantile Exchange at 2:26 p.m. Singapore time. It closed at $96.01 on Aug. 17, the highest level since May 11. The contract expires today. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 5250
SUPPORT 2: 5180
RESISTANCE 1: 5450
RESISTANCE 2: 5530
GOLD (OCT): Gold fell as the dollar rose against the euro after Germany’s Bundesbank stepped up criticism of the European Central Bank’s bond-buying program, eroding demand for the metal as an alternative investment. Gold futures for December delivery fell less than 0.1 percent to $1,618.70 an ounce on the Comex in New York. Earlier, the metal declined as much as 0.5 percent. The price climbed 1.1 percent in the previous three sessions. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 30020
SUPPORT 2: 29900
RESISTANCE 1: 30280
RESISTANCE 2: 30375
SILVER (SEP): Precious metals except for silver moved higher on Friday despite fading hopes for stimulus measures from the Fed after upbeat data releases. A Thomson Reuters/University of Michigan US consumer sentiment index attained three-month high in August. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53750
SUPPORT 2: 53150
RESISTANCE 1: 54650
RESISTANCE 2: 55400
ECONOMY DATA TODAY 21 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
AUD | Monetary Policy Meeting Minutes | 7:00am | ||
NZD | Inflation Expectations q/q | 8:30am | 2.4% | |
NZD | Credit Card Spending y/y | 8:30am | 4.6% | |
CAD | Wholesale Sales m/m | 6:00pm | 0.4% | 0.9% |
CAD | Gov Council Member Cote Speaks | 10:30pm |
COMMODITY UPDATES 17 AUGUST 2012
- Gold demand stays weak as prices rise
- Silver rates trading higher in major metros in India
- Spot gold prices gain in major cities in India
COMMODITY TIPS FOR TOMORROW 17 AUGUST 2012
COPPER (AUG): Firming trend overseas after Chinese Premier Wen Jiabao said easing inflation provides room to adjust monetary policy, boosting optimism that the government will take more steps to stimulate the world's second-largest economy. Meanwhile, three-month copper traded 0.8 per cent higher at USD 7,443.75 per ton at the London Metal Exchange in early trade today. Copper prices rose marginally by 0.05 per cent in futures trade today as speculators created fresh positions amid a firming trend overseas and pick-up in demand in the spot market. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 409.27
SUPPORT 2: 404.92
RESIST 1: 419.87
RESIST 2: 425.52
CRUDE OIL (AUG): Oil for September delivery slid as much as 0.4 percent in New York, trimming a third weekly gain. Futures were 29 cents lower, or 0.3 percent, at $95.31 a barrel in electronic trading on the New York Mercantile Exchange at 8:30 a.m. in Singapore. They rose 1.4 percent yesterday to the highest in three months. Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUP1: 5188
SUP2: 5090
RESIST1: 5390
RESIST2: 5480
GOLD (OCT): Gold for immediate delivery rose as much as 0.2 percent to $1,618.05 an ounce and was little changed at $1,615.20 at 11:05 a.m. in Singapore. The price is down 0.3 percent this week. December-delivery bullion was little changed at $1,618.60 on the Comex in New York. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUP1: 30020
SUP2: 29900
RESIST1: 30225
RESIST2: 30350
SILVER (SEP): Spot silver was little changed at $28.2125 an ounce, heading for a 0.3 percent gain this week. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 53350
SUP2: 52820
RESIST1: 54060
RESIST2: 54550
ECONOMY DATA TODAY 17 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Prelim UoM Consumer Sentiment | 7:25pm | 72.5 | 72.3 |
USD | Prelim UoM Inflation Expectations | 7:25pm | 3.0 | |
USD | CB Leading Index m/m | 7:30pm | 0.2% | -0.3% |
EUR | Trade Balance | 2:30pm | 5.4B | 6.3B |
EUR | Current Account | 1:30pm | 7.8B | 10.9B |
COMMODITY UPDATES 16 AUGUST 2012
- MCX SILVERMIC Nov contract gains
- MCX GOLDPETAL October contract trades higher
- Spot silver rates gain in major cities in India
COMMODITY TRADING LEVELS FOR 16 AUGUST 2012
COPPER (AUG): London copper climbed on Thursday, helped by a weaker dollar and hopes for more economic stimulus in the United States and China, which would boost global demand for metals. Three-month copper on the London Metal Exchange had ticked up 0.6 percent to $7,428 per ton by 0127 GMT, after losing 0.4 percent the session before. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 408.60
SUPPORT 2: 402.50
RESIST 1: 420.80
RESIST 2: 429.00
CRUDE OIL (AUG): U.S. crude futures stayed close to a three-month high in early Asian trade on Thursday ona steeper than expected drop in oil inventories in the United States, the world's biggest consumer, despite a modest rise in imports. U.S. crude had gained 11 cents to $94.44 per barrel by 0025 GMT, after rising 90 cents to its highest settlement since May 14. Brent was unchanged at $116.25, after ending $2.22 up at the highest settlement since May 2. Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUPPORT 1: 5120
SUPPORT 2: 5020
RESISTANCE 1: 5300
RESISTANCE 2: 5382
GOLD (OCT): Gold slid on Tuesday to its lowest since August 3 as U.S. retail sales, which rose in July for the first time in four months, prompted investors to scale back their bets based on dimming expectations of imminent stimulus measures from the Federal Reserve. Spot gold inched up 0.3% to USD 1,602.21 an ounce by 0630 GMT, after touching a low around $1,598 earlier in the session. It hit an intraday low of USD 1,594.10 on Tuesday, its lowest since Aug 3.US gold futures contract for December delivery gained 0.1% to USD 1,604.70.Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29900
SUPPORT 2: 29810
RESISTANCE 1: 30150
RESISTANCE 2: 30270
SILVER (SEP): Bullion gained 0.8 percent last week amid speculation that China, the U.S. and Europe may take more steps to boost economic growth, reviving demand for gold as an inflation hedge. firm global trend on speculation central banks from China to the US are poised step up stimulus measures to counter an economic slowdown, boosting investment demand for the metal, influenced silver futures here. silver gained 0.5 per cent to USD 27.94 an ounce in Singapore. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53100
SUPPRT 2: 52850
RESISTANCE 1: 53750
RESISTANCE 2: 54100
ECONOMY DATA TODAY 16 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Building Permits | 6:00pm | 0.77M | 0.76M |
USD | Unemployment Claims | 6:00pm | 365K | 361K |
USD | Housing Starts | 6:00pm | 0.76M | 0.76M |
EUR | CPI y/y | 2:30pm | 2.4% | 2.4% |
EUR | Core CPI y/y | 2:30pm | 1.9% | 1.6% |
COMMODITY UPDATES 14 AUGUST 2012
- Oil price inflates as speculators bet on stimulus
- MCX SILVERMIC Nov contract gains
- MCX GOLDPETAL Sept contract trades higher
COMMODITY TRADING LEVELS FOR 14 AUGUST 2012
COPPER (AUG): Fall in copper futures prices was due to a weakening trend in overseas markets on speculation that a slowdown in China, the world's biggest consumer, and lower-than-expected growth in Japan will dampen the demand for base metals. Meanwhile, three-month copper dropped as much as 0.7% to $7,436 a ton at the London Metal Exchange. Copper futures prices today fell by 0.47% to Rs 413.10 per kg after participants trimmed their positions, taking weak cues from global markets. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 406.77
SUPPORT 2: 402.54
RESISTANCE 1: 418.07
RESISTANCE 2: 425.37
CRUDE OIL (AUG): Firming trend in the global markets ahead of a report that may show sales at US retailers expanded last month supported the uptrend in crude oil at futures trade here. Nymex crude oil prices increased around 0.7% today taking cues from reemergence of tension in the Middle East coupled with weakness in the DX. Additionally, mixed global market sentiments also helped upside in the crude oil prices. Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUPPORT 1: 5070
SUPPORT 2: 4968
RESISTANCE 1: 5250
RESISTANCE 2: 5340
GOLD (OCT): Gold prices in India rose on Monday to the highest level in more than a week on a drop in rupee, but demand was subdued in the physical market where buyers were on the sidelines waiting for a correction in prices.
The most-active gold for October delivery on the Multi Commodity Exchange (MCX) was up 0.45 percent at 30,168 rupees per 10 grams by 0950 GMT. International spot gold edged up, extending its winning streak into a seventh session as dimming prospects for global growth support expectations of more stimulus measures from central banks around the world. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
The most-active gold for October delivery on the Multi Commodity Exchange (MCX) was up 0.45 percent at 30,168 rupees per 10 grams by 0950 GMT. International spot gold edged up, extending its winning streak into a seventh session as dimming prospects for global growth support expectations of more stimulus measures from central banks around the world. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29920
SUPPORT 2: 29780
RESISTANCE 1: 30160
RESISTANCE 2: 30280
SILVER (SEP): Spot silver prices declined 0.1% tracking bearishness in the base metals pack. However strength in the spot gold prices coupled with weakness in the DX cushioned sharp fall in the prices. The white metal prices touched an intra-day low of $27.9/oz and were trading around $28.05/oz. In the domestic market prices gained 0.3% due to depreciation in the Indian rupee today. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53050
SUPPORT 2: 52650
RESISTANCE 1: 53820
RESISTANCE 2: 54250
ECONOMY DATA TODAY 14 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Core Retail Sales m/m | 6:00pm | 0.4% | -0.4% |
USD | PPI m/m | 6:00pm | 0.3% | 0.1% |
USD | Retail Sales m/m | 6:00pm | 0.4% | -0.5% |
EUR | Industrial Production m/m | 2:30pm | -19.1 | -22.3 |
EUR | Flash GDP q/q | 2:30pm | -0.4% | 0.6% |
COMMODITY DATA UPDATES 14 AUGUST 2012
- MCX SILVERMIC Nov contract gains
- MCX GOLDM September contract trades higher
- Gold demand stays muted on price rise
COMMODITY TRADING LEVELS FOR 13 AUGUST 2012
COPPER (AUG): Copper bulls waiting for a magic bullet from China to shore up the metal’s price have been left disappointed. Recent data from China - specifically industrial production and imports data - continue to point to sluggish demand in a market dogged by high inventories. Prices will average about $8,000 per ton on the LME this year this year, $7,500 in 2013 and $8,000 in 2014, he said. It was trading at $7,486 on Friday. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 409.83
SUPPORT 2: 405.10
RESISTANCE 1: 419.98
RESISTANCE 2: 425.33
CRUDE OIL (AUG): Crude oil futures prices declined by 0.41 per cent to Rs 5,133 per barrel today in line with a weak trend in Asian trade. At the Multi Commodity Exchange, crude oil for delivery in August shed Rs 41, or 0.41 per cent, to Rs 5,133 per barrel, with a business volume of 15,498 lots. Market men said the fall in crude oil futures prices was in line with a weakening trend in Asia as a collapse in China's export growth added to signs that the global economy is weakening Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUPPORT 1: 4950
SUPPORT 2: 4860
RESISTANCE 1: 5210
RESISTANCE 2: 5375
GOLD (OCT): Gold hovered near USD 1,620 an ounce on Monday, after gaining for a sixth straight day in the previous session as downbeat China economic data triggered expectations of more stimulus measures from the world's second-largest economy. Spot gold was little changed at USD 1,620.11 an ounce by 0039 GMT, after posting a weekly rise of nearly 1%. U.S. gold futures contract for December delivery traded nearly flat at USD 1,622.70. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29926
SUPPORT 2: 29840
RESISTANCE 1: 30190
RESISTANCE 2: 30360
SILVER (SEP): Silver, Friday AM fix was at $27.88/oz, down 0.5 per cent from the previous day. The silver market is in surplus this year (estimated at 3,000 tone) and is expected to remain so next year too (4,000 tone) according to analysts. So, price movements are dictated by investor appetite in general. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53010
SUPPORT 2: 52612
RESISTANCE 1: 53920
RESISTANCE 2: 54560
ECONOMY DATA TODAY 13 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
EUR | German WPI m/m | 11:30am | 0.4% | -1.1% |
COMMODITY UPDATES 10 AUGUST 2012
- MCX SILVERMIC Nov contract slips
- MCX GOLDPETAL August contract trades flat
- Gold traders refrain from buying
COMMODITY TRADING LEVELS FOR 10 AUGUST 2012
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 413.70
SUPPORT 2:409.30
RESISTANCE 1: 421.00
RESISTANCE 2: 425.00
CS CRUDE (AUG) OVERVIEW:
TREND BULLISH
SUPPORT 1: 5050
SUPPORT 2: 4830
RESISTANCE 1: 5240
RESISTANCE 2: 5450
CS GOLD (OCT) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 29695
SUPPORT 2: 29335
RESISTANCE 1: 30430
RESISTANCE 2: 30780
CS SILVER (SEP) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 52860
SUPPORT 2: 52585
RESISTANCE 1: 53900
RESISTANCE 2: 54510
CS NICKEL (AUG) OVERVIEW:
TREND BEARISH
SUPPORT 1: 889.00
SUPPORT 2: 900.00
RESISTANCE 1: 840.00
RESISTANCE 2: 822.00
ECONOMIC DATA TODAY 10 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Import Prices m/m | 6:00pm | 0.1% | -2.7% |
USD | Federal Budget Balance | 11:30pm | -103.0B | -59.7B |
EUR | German Final CPI m/m | 11:30pm | 0.4% | 0.4% |
EUR | French Industrial Production m/m | 12:15pm | 0.4% | -1.9% |
EUR | French Gov Budget Balance | 12:15pm | -69.6B |
COMMODITY UPDATES 9 AUGUST 2012
- MCX GOLDPETAL Sept contract firms up
- MCX SILVERMIC Nov contract trading higher
- Gold extends gains, physical trading weak
COMMODITY TRADING LEVELS FOR 9 AUGUST 201
COMMODITY TRADING LEVELS FOR 9 AUGUST 2012
COPPER (AUG): Copper fell for the first time in four sessions after weaker-than-forecast German industrial production fueled concern that Europe’s debt crisis is crimping economies and cutting metals demand. Copper futures for September delivery slid 0.6 percent to settle at $3.4215 a pound on the Comex in New York. Prices gained 4.6 percent in the previous three sessions. On the London Metal Exchange, copper for delivery in three months retreated 0.4 percent to $7,550 a metric ton ($3.43 a pound.)Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 411.80
SUPPORT 2: 405.70
RESISTANCE 1: 423.00
RESISTANCE 2: 427.80
CRUDE OIL (AUG): Oil in New York fell for the first time in four days after a government report showed fuel demand weakened last week and on concern that the Federal Reserve won’t implement additional stimulus measures. Prices declined 0.3 percent as the Energy Department said U.S. petroleum demand decreased for the first time in four weeks. Expected resistance and support levels for the crude AUG contract are:
TREND BULLISH
SUPPORT 1: 5080
SUPPORT 2: 4987
RESISTANCE 1: 5230
RESISTANCE 2: 5310
GOLD (OCT): Gold advanced for the third time in four sessions on speculation that central banks will take steps to bolster their economies, increasing the appeal of the precious metal as a store of value. Spot gold had edged up 0.3 percent to $1,616.22 an ounce by 0324 GMT.The U.S. gold futures contract for December delivery gained 0.2 percent to $1,619.10.Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29730
SUPPORT 2: 29590
RESISTANCE 1: 30010
RESISTANCE 2: 30150
SILVER (SEP): Silver traded lower following global leads. Silver futures for September delivery declined less than 0.1 percent to $28.075 an ounce in New York.Silver for September delivery on the MCX was down 0.26% at Rs 53,230 per kg.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53010
SUPPORT 2: 52820
RESISTANCE 1: 53910
RESISTANCE 2: 54440
ECONOMY DATA TODAY 9 AUGUST 2012
CURRNCY | DETAILS | ACTUAL | FORECAST | PREVIOUS |
USD | Trade Balance | 6:00pm | -47.4B | -48.7B |
USD | Unemployment Claims | 6:00pm | 371K | 365K |
USD | Wholesale Inventories m/m | 7:30pm | 0.3% | 0.3% |
EUR | Italian Trade Balance | 1:30pm | ||
EUR | ECB Monthly Bulletin | 1:30pm | 0.97B | 1.01B |
COMMODITY UPDATES 8 AUGUST 2012
- MCX SILVERMIC Nov contract trades lower
- MCX GOLDPETAL Oct contract firms up
- Spot gold rates trading mixed in major cities in India
COMMODITY TRADING LEVELS FOR 8 AUGUST 2012
COPPER (AUG): Three-month copper on the London Metal Exchange had slipped 0.45 percent to $7,546 a ton by 0308 GMT, reversing gains from the previous session when it hit a one-week high and closed at $7,580 a ton, its loftiest finish since July 19.LME copper has gained 3.5 percent over the last three days, its biggest three-day rally in more than a month, but is still in negative territory for the year. Expected resistance and support level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 412.80
SUPPORT 2: 407.10
RESISTANCE 1: 426.60
RESISTANCE 2: 431.20
CRUDE OIL (AUG): Oil slid from the highest close in more than two months as investors sold contracts on speculation that recent gains were excessive amid signs of weakening demand in the U.S, the world’s biggest consumer of crude. Futures fell as much as 0.5 percent, dropping for the first time in four days. Oil’s gains stalled near the upper Bollinger Band, an indicator of technical resistance. Crude consumption declined4 percent to 15.9 million barrels last week, the biggest percentage decrease in a month. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 5040
SUPPORT 2: 4950
RESISTANCE 1: 5246
RESISTANCE 2: 5350
GOLD (OCT): Gold may drop for the first time in four days as the metal’s advance to a one-week high encourages sales and as the dollar’s strength saps demand for bullion as an alternative investment. Silver declined. Spot gold lost as much as 0.2 percent to $1,609.40 an ounce, and was at $1,611.25 at 9:41 a.m. in Singapore. The metal climbed to $1,618.40 an ounce yesterday, the highest level since Aug. 1. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29650
SUPPORT 2: 29520
RESISTANCE 1: 29920
RESISTANCE 2: 30080
SILVER (SEP): Spot silver fell as much as 0.5 percent to $28.0075 an ounce, and traded at $28.0425, dropping for the first time in four days. The dollar rose 0.2 percent versus a six-currency basket including the euro, gaining for the first time in four days, before data that may show weakness in German industrial production. Bullion tends to move inversely to the greenback. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53130
SUPPORT 2: 52900
RESISTANCE 1: 53610
RESISTANCE 2: 53890
COMMODITY TRADING LEVELS FOR 8 AUGUST 2012
COPPER (AUG): The fall in copper futures prices was due to a weakening trend in overseas markets. Meanwhile, for three-month copper dropped as much as 2.2 per cent to USD 7,434 a ton at the London Metal Exchange. Copper futures prices today fell by 0.20 per cent to Rs 418.80 per kg as traders reduced their positions, taking weak cues from global markets. Expected resistance and support level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 410.70
SUPPORT 2: 405.20
RESISTANCE 1: 419.70
RESISTANCE 2: 424.68
CRUDE OIL (AUG): Crude oil futures prices declined by 0.37 per cent to Rs 5,130 per barrel today largely in tandem with a weak trend in Asian trade on profit-booking. The fall in crude oil futures prices was mostly in line with a weakening trend in Asian trade on profit-booking after last week rally ahead of the release of Chinese trade data later this week. Meanwhile, crude oil for delivery in September fell 12 cents to USD 91.28 a barrel on the New York Mercantile Exchange. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4960
SUPPORT 2: 4850
RESISTANCE 1: 5187
RESISTANCE 2: 5264
GOLD (OCT): Spot gold inched up 60 cents to USD 1,610.99 an ounce by 0038 GMT, after two sessions of consecutive gains.US gold futures contract for December delivery edged down 0.1% to USD 1,613.90.Gold traded steady on Tuesday, striving to extend gains into a third straight session as investors expect the European Central Bank to take actions to contain the region's debt crisis. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29820
SUPPORT 2: 29730
RESISTANCE 1: 30070
RESISTANCE 2: 30210
SILVER (SEP): Holdings of the shares Silver Trust, the world's largest silver-backed exchange-traded fund, inched down to 9,742.43 tons on August 3, from 9,759.01 tones hit last week -- the highest since late June. Spot silver lost 0.1% to USD 27.83.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53010
SUPPORT 2: 52730
RESISTANCE 1: 53610
RESISTANCE 2: 53990
ECONOMY DATA TODAY 7 AUGUST 2012
CURRENCY | DETAILS | ACTUAL | FORECAST | PREVEIOUS |
USD | Loan Officer Survey | Tentative | ||
EUR | Italian Industrial Production m/m | 1:30pm | -1.0% | 0.8% |
EUR | Italian Prelim GDP q/q | 2:30pm | -0.7% | -0.8% |
EUR | German Factory Orders m/m | 3:30pm | -0.8% | 0.6% |
COMMODITY UPDATES 6 AUGUST 2012
- MCX SILVER Dec contract trades flat
- MCX GOLDPETAL Oct contract firms up
- Gold at 30,000 rupees; traders stay away
COMMODITY TRADING LEVELS 6 AUGUST 2012
COPPER (AUG): London copper was little changed on Monday after a better-than-expected U.S. jobs report eased concern over growth in the world's biggest economy, and a fresh pledge by top metals consumer China to support growth also helped to support prices. Three-month copper on the London Metal Exchange was steady at $7,438 per metric ton (1.1023 tons) by 10.48 p.m. EDT, down 0.09 percent after gains of more than 1 percent in the previous session. Expected resistance and support level for today trade are as follows.
TREND BEARISH
SUPPORT 1: 407.15
SUPPORT 2: 401.75
RESISTANCE 1: 417.80
RESISTANCE 2: 423.15
CRUDE OIL (AUG): Crude-oil futures vaulted almost 5% to close above $91 a barrel after better-than-expected U.S. data fueled hopes that economic strengthening would lead to increased oil demand. Light, sweet crude for September delivery rose $4.27, or 4.9%, to settle at $91.40 a barrel on the New York Mercantile Exchange. The contract reached $91.74, its highest intraday price since July 20, before pulling back slightly. Brent crude on ICE Futures Europe settled up $3.04, or 2.9%, at $108.94 a barrel. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4925
SUPPORT 2: 4851
RESISTANCE 1: 5145
RESISTANCE 2: 5265
GOLD (OCT): Gold edged down 0.5% while other precious metals posted gains of 1.1% for silver and palladium and 0.4% for platinum. On Friday, gold prices for December delivery jumped $18.60, or 1.2%, to$1,609.30 an ounce. The yellow metal traded between an intraday low of $1,588.50 and a high of $1,609.90. Gold has gained 2.7% in 2012.Gold hit Wednesday and then Thursday over disappointment that the Federal Reserve and ECB failed to offer investor-desired stimulus measures after monetary policy meetings. Resistance and support levels for the today’s session for Gold OCT contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29810
SUPPORT 2: 29720
RESISTANCE 1: 30050
RESISTANCE 2: 30200
SILVER (SEP): Silver rebounded sharply Friday after three straight daily losses, and silver managed to cross into positive territory this week. Silver prices for September delivery rallied 80.6 cents, or 3.0%, to $27.801 an ounce. Silver ranged from $26.990 to $27.895.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52910
SUPPORT 2: 52530
RESISTANCE 1: 53770
RESISTANCE 2: 54230
MARKET EXPERTS BLOG DATA 6 AUGUST 2012
ECONOMY DATA TODAY 6 AUGUST 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
EUR | Sentix Investor Confidence | 2:00pm | -30.7 | -29.6 |
AUD | Bank Holiday | All Day | ||
AUD | MI Inflation Gauge m/m | 6:00am | -0.2% | |
AUD | ANZ Job Advertisements m/m | 7:00am | -1.2% | |
USD | Fed Chairman Bernanke Speaks | 6:30pm |
COMMODITY UPDATES 6 AUGUST 2012
- Gold, silver slide on low demand, global cues
- Gold traders stay away on weak monsoon forecasts
- MCX SILVERMIC Nov contract trades flat
COMMODITY TRADING LEVELS FOR 2 AUGUST 2012
COPPER (AUG): Copper extended losses in after-hours business on Wednesday,sinking to its lowest in a week, after the Federal Reserve refrained from delivering fresh monetary stimulus despite acknowledging a weakening U.S. economy. COMEX copper for September delivery sank an additional 2.95 cents in electronic trade to hit a one-week trough at $3.3455 per lb. It earlier settled the day down 4.25 cents at $3.3750.London Metal Exchange (LME) benchmark copper ended off $135 at $7,425 a ton, after touching its lowest level in nearly a week at $7,421.50.Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 412.97
SUPPORT 2: 407.86
RESISTANCE 1: 422.82
RESISTANCE 2: 428.68
CRUDE OIL (AUG): Oil prices were lower in Asian trade today after the US central bank failed to announce any new economic stimulus measures at the end of a two-day meeting, analysts said. New York’s main contract, light sweet crude for delivery in September, shed 12 cents to $88.79 a barrel and Brent North Sea crude for September delivery fell 14 cents to $105.82.Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4905
SUPPORT 2: 4843
RESISTANCE 1: 5057
RESISTANCE 2: 5169
GOLD (AUG): Gold found support at $1,600 an ounce on Thursday, although was capped by uncertainty on whether the European Central Bank will take bold action to tackle the region's debt crisis after the U.S. central bank dashed hopes of any imminent stimulus. Spot gold edged up 0.2 percent to $1,601.86 an ounce by 0340 GMT, after losing 0.9 percent on Wednesday. U.S. gold futures contract for December delivery edged down 0.1 percent to $1,605.40. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUPPORT 1: 29900
SUPPORT 2: 29810
RESISTANCE 1: 30150
RESISTANCE 2: 30300
SILVER (SEP): Silver metal, used heavily in industry, also fell after earlier reports showed that a Chinese factory purchasing managers' index (PMI) fell to an eight-month low and the US ISM survey of the American manufacturing sector shrank in July. At the end of a two-day policy meeting, the US central bank disappointed investors who had hoped for a third round of government bond purchases, also called quantitative easing or QE3. Silver fell 1.6 per cent to $27.47 an ounce. It was up more than 4 per cent in a four-day rally last week. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52640
SUPPORT 2: 52100
RESISTANCE 1: 53727
RESISTANCE 2: 54485
COMMODITY TRADING LEVELS 1 AUGUST 2012
COPPER (AUG): London copper dropped to its lowest in almost a week after official manufacturing data from top metals consumer China fell short of expectations, while fading hopes for monetary stimulus in the United States and Europe also dragged down prices. Three-month copper on the London Metal Exchange traded down 0.2 percent at $7,548 a tonne by 0246 GMT, after touching a low of $7,487.50 earlier in the session -- lowest since July 27. LME copper fell almost 2 percent in July. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 418.70
SUPPORT 2: 414.20
RESISTANCE 1: 426.70
RESISTANCE 2: 430.98
CRUDE OIL (AUG): Crude-oil futures prices settled 1.9% lower Tuesday as investors adjusted positions ahead of a scheduled Wednesday statement from the U.S. Federal Reserve's policy-making board. Prices rallied nearly $2 a barrel over four days last week, and re-submitted at the $90-a-barrel level on expectations that the Fed was preparing to move soon with a fresh stimulus package to jolt the U.S. economy. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4843
SUPPORT 2: 4730
RESISTANCE 1: 5049
RESISTANCE 2: 5170
GOLD (AUG): Gold has rallied since tumbling to within 1% of a bear market in May, it's still 16% below the record $1,923.70 an ounce reached on September 6. Investors have favored sovereign debt and the dollar to protect their wealth as economic growth slows, driving yields to record lows and the US currency to a two-year high. Central banks from Europe to China cut interest rates this month, and the Federal Reserve said it was prepared to act to boost the recovery. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUPPORT 1: 30080
SUPPORT 2: 29950
RESISTANCE 1: 30270
RESISTANCE 2: 30350
SILVER (SEP): Silver also edged higher, following the yellow metal. Silver for September delivery on the MCX was 0.69 percent higher at 54,197 rupees per kg. The festivals season starts in August in India, the world's biggest buyer in 2011, and continue till November. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53670
SUPPORT 2: 53373
RESISTANCE 1: 54420
RESISTANCE 2: 54840
ECONOMY DATA TODAY 1 AUGUST 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | ADP Non-Farm Employment Change | 5:45pm | 122K | 176K |
USD | Final Manufacturing PMI | 6:30pm | 51.9 | 51.8 |
USD | ISM Manufacturing PMI | 7:30pm | 50.4 | 49.7 |
EUR | Final Manufacturing PMI | 1:30pm | 44.1 | 44.1 |
EUR | Italian Manufacturing PMI | 1:15pm | 44.3 | 44.6 |
COMMODITY UPDATES 31 JULY 2012
- Gold traders stay away as prices hit 1-month high
- MCX SILVER Sept contract up 0.64% at Rs 54170
- MCX Gold August contract up 0.39% at Rs 29903
COMMODITY TRADING LEVELS FOR 31 JULY 2012
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
RESISTANCE 1: 425.10
RESISTANCE 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
SUPPORT 1: 4910
SUPPORT 2: 4836
RESISTANCE 1: 5050
RESISTANCE 2: 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
SUPPORT 1: 29710
SUPPORT 2: 29635
RESISTANCE 1: 29868
RESISTANCE 2: 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
SUPPORT 1: 53360
SUPPORT 2: 52872
RESISTANCE 1: 54362
RESISTANCE 2: 54970
ECONOMIC DATA TODAY 31 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Core PCE Price Index m/m | 6:00pm | 0.2% | 0.1% |
USD | Employment Cost Index q/q | 6:00pm | 0.6% | 0.4% |
USD | Personal Spending m/m | 6:00pm | 0.1% | 0.0% |
EUR | German Retail Sales m/m | 11:30am | 0.6% | -0.3% |
EUR | French Consumer Spending m/m | 12:15pm | 0.2% | 0.4% |
COMMODITY UPDATES
- Brent slips under $106, stimulus expectations fade
- Gold prices steady; traders look for direction
- MCX SILVERMIC November contract gains
COMMODITY TRADING LEVELS FOR 30 JULY 2012
COPPER (AUG): Copper edged up on Monday as its demand outlook improved on hopes Europe and the United States will announce fresh measures to shore up their faltering economies, while investors also eyed factory data from top metals consumer China for trading cues. Three-month copper on the London Metal Exchange traded at $7,600 a ton at 0314 GMT, up 0.42 percent and building on a more than 1 percent gain in the previous session. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 417.60
SUPPORT 2: 413.80
RESIST 1: 423.10
RESIST 2: 427.60
CRUDE OIL (AUG): Oil prices were mixed in Asian trade today as investors await further measures by policymakers to boost the ailing Euro zone and US economy, analysts said. New York’s main contract, light sweet crude for September delivery eased 13 cents to $90.00 a barrel while Brent North Sea crude, also for delivery in the same month, was five cents higher at $106.52.Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUP1: 4915
SUP2: 4825
RESIST1: 5080
RESIST2: 5150
GOLD (AUG): Gold held steady above $1,620 per ounce on Monday, as investors wait for the central banks on both sides of the Atlantic to give clearer cues on the potential for further monetary stimulus. Last Friday's data showed US economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery ahead of the Fed policy meeting later in the week. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUP1: 29710
SUP2: 29615
RESIST1: 29875
RESIST2: 29950
SILVER (SEP): Silver rallied on speculation about further stimulus. Silver September 12contract was up by 0.23% to Rs 53,338.00 per kg, SilverM August 12 contract was up by 0.23% to Rs 53,367.00 per kg and SilverMIC August 12 contract was up by 0.22% to Rs 53,367.00 per kg.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52860
SUPPORT 2: 52592
RESISTANCE 1: 53674
RESISTANCE 2: 54990
ECONOMIC DATA TODAY 30 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
EUR | Spanish Flash GDP q/q | 12:30pm | -0.4% | -0.3% |
EUR | Retail PMI | 1:40pm | 48.3 | |
EUR | Italian 10-y Bond Auction | Tentative | 5.82|1.7 |
COMMODITY UPDATES 27 JULY 2012
- MCX SILVERMIC Feb'13 contract gains
- MCX GOLDPETAL Sept contract trading flat
- Spot silver prices trading mixed
COMMODITY TRADING LEVELS FOR 27 JULY 2012
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 414.70
SUPPORT 2:410.30
RESISTANCE 1: 423.00
RESISTANCE 2: 427.00
CS CRUDE (AUG) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 4850
SUPPORT 2: 4730
RESISTANCE 1: 5090
RESISTANCE 2: 5250
CS GOLD (AUG) OVERVIEW:
TREND BULLISH
SUPPORT 1: 29650
SUPPORT 2: 29440
RESISTANCE 1: 30023
RESISTANCE 2: 30180
CS SILVER (SEP) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 52960
SUPPORT 2: 52485
RESISTANCE 1: 53580
RESISTANCE 2: 54000
CS NICKEL (JUL) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 875.00
SUPPORT 2: 864.60
RESISTANCE 1: 891.00
RESISTANCE 2: 900.00
ECONOMIC DATA TODAY 27 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Advance GDP q/q | 6:00pm | 1.5% | 1.9% |
USD | Advance GDP Price Index q/q | 6:00pm | 1.6% | 2.0% |
USD | Revised UoM Consumer Sentiment | 7:25pm | 72.0 | 72.0 |
EUR | German Prelim CPI m/m | All Day | 0.4% | -0.1% |
EUR | Spanish Unemployment Rate | 12:30pm | 24.7% | 24.4% |
COMMODITY UPDATES 27 JULY 2012
- MCX SILVERMIC Nov contract trading lower
- MCX GOLDPETAL August contract trades flat
- Gold flat near 4-week high, spurs scrap selling
COMMODITY TIPS 26 JULY 2012
SELL GOLD AUG NEAR 29765 FOR TARGET OF RS 29740,29710,29675 KEEP STOP LOSS AT 29815
COMMODITY TRADING LEVELS FOR 26 JULY 2012
COPPER (AUG): London copper steadied on Thursday, recovering from a one-month low hit in the prior session as investor sentiment stabilized, but concerns the European debt crisis could yet deepen signaled the bounce could be brief. Three-month copper on the London Metal Exchange traded at $7,434.75 a ton by 0251 GMT, down 0.15 percent from the previous session, when it hit its lowest in one month, at $7,344.25 a tonne.Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 415.10
SUPPORT 2: 410.92
RESISTANCE 1: 424.62
RESISTANCE 2: 428.97
CRUDE OIL (AUG): Oil dropped for the first time in three days in New York on concern rising stockpiles in the U.S., the world’s biggest crude consumer, signal faltering demand. Futures slipped as much as 0.5 percent after gaining 0.5 percent yesterday. Crude inventories climbed 2.7 million barrels last week, the first gain in five weeks, data from the Energy Department showed. They were forecast to fall 1 million barrels, according to a Bloomberg survey. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4859
SUPPORT 2: 4760
RESISTANCE 1: 5066
RESISTANCE 2: 5146
GOLD (AUG): The August contract on Comex was down by $5 at $1,603 a troy ounce at 9.40 am. The rupee opened marginally higher on Thursday. However, further gains may be limited. The month-end demand for dollar may also keep rupee under pressure. If rupee depreciates, then gold will gain further in rupee terms. Gold futures on the Multi Commodity Exchange had closed higher at Rs 29,835 per 10 grams on Wednesday against the previous close of Rs 29,568. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUPPORT 1: 29630
SUPPORT 2: 29399
RESISTANCE 1: 29939
RESISTANCE 2: 30150
SILVER (SEP): Silver rose 2.1 percent to $27.51 an ounce. Confidence in the metal remains shaky, however, analysts said, with investors wary of taking profits in the traditionally volatile asset. The world's largest silver-backed exchange-traded fund, the Shares Silver Trust, posted an outflow of 69.36 tones on Tuesday. Confidence in the metal remains shaky, however, analysts said, with investors wary of taking profits in the traditionally volatile asset.Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 53040
SUPPORT 2: 52612
RESISTANCE 1: 53920
RESISTANCE 2: 54360
ECONOMIC DATA TODAY 26 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Core Durable Goods Orders m/m | 6:00pm | 0.1% | 0.7% |
USD | Unemployment Claims | 6:00pm | 381K | 386K |
USD | Durable Goods Orders m/m | 6:00pm | 0.4% | 1.3% |
EUR | Private Loans y/y | 1:30pm | -0.2% | 0.1% |
EUR | Italian Retail Sales m/m | 1:30pm | 0.4% | -1.6% |
COMMODITY UPDATES 25 JULY 2012
- MCX SILVERMIC Feb'13 contract rises
- MCX GOLDPETAL July contract trades higher
- Gold rates advance in major metros in India
COMMODITY TRADING LEVELS FOR 25 JULY 2012
COPPER (AUG): London copper fell to a one-month low on Wednesday as renewed worries over Greek and Spanish sovereign debt hit risk appetite and curbed expectations of metals demand, before erasing losses alongside the euro to trade little changed. Three-month copper on the London Metal Exchange traded at $7,436.25 at 0246 GMT, up 0.26 percent from the previous session when it logged a small advance. Prices earlier fell to $7,355 a ton, the lowest since June 28, and are down just over 2 percent for the year. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 415.60
SUPPORT 2: 409.93
RESIST 1: 424.40
RESIST 2: 429.10
CRUDE OIL (AUG): Crude oil futures settled modestly higher Tuesday, after a tumbling 4% a day earlier on renewed worries of economic weakness in the euro zone. Prices moved broadly throughout the session, lifted by early news of improving manufacturing data in China, the world's second-biggest oil consumer. China's purchasing manager’s index rose to a five-month high in July of 49.5 from 48.2 in June, but a reading below 50 still indicates weakness. Crude oil for September delivery on the New York Mercantile Exchange settled 36 cents higher, at $88.50 a barrel.Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4909
SUPPORT 2: 4836
RESISTANCE 1: 5074
RESISTANCE 2: 5152
GOLD (AUG): Gold held steady around $1,580 an ounce on Wednesday, as sluggish economic data kept alive hopes for more monetary stimulus while a strong dollar pressured prices. Spot gold was little changed at $1,580.14 an ounce by 0039 GMT. The U.S. gold futures contract for August delivery inched up 0.2 percent to $1,579.60.Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29440
SUPPORT 2: 29350
RESISTANCE 1: 29668
RESISTANCE 2: 29798
SILVER (SEP): Silver futures were down about 0.9% with a final bid of $26.72 per ounce. Tuesday’s high for silver prices reached $27, and the low was $26.85. SILVER September contract was trading at Rs 52770.00 down Rs 153.00, or 0.29%. The SILVER rate touched an intraday high of Rs 52914.00 and an intraday low of Rs 52705.00. So far 7829 contracts have been traded. SILVER prices have moved down Rs 7630.00 or 12.63% in the September series so far. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52520
SUPPORT 2: 52010
RESISTANCE 1: 53320
RESISTANCE 2: 53810
ECONOMIC DATA TODAY 25 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | New Home Sales | 7:30pm | 373K | 369K |
USD | Crude Oil Inventories | 8:00pm | -0.8M | |
USD | Treasury Sec Geithner Speaks | 7:30pm | ||
EUR | Belgium NBB Business Climate | 6:30pm | -13.4 | -13.2 |
EUR | German Ifo Business Climate | 1:30pm | 104.8 | 105.3 |
COMMODITY UPDATE 24 JULY 2012
- Oil above USD 103 after China data; Europe weighs
- MCX SILVERMIC Nov contract slips
- MCX GOLDGUINEA August contract trades flat
COMMODITY TRADING LEVELS FOR 24 JULY 2012
COPPER (AUG): London copper rose on Tuesday on short covering ahead of the release of data on Chinese factory activity, rebounding from a near one-month low in the prior session on worries that Spain's debt problems will undermine global demand for metals. Fears over the euro zone crisis are expected to cap gains for the time being as investors also eye Italy's fragile financial markets and possible sovereign rating cuts of some of Europe's strongest economies, including Germany, by Moody’s. Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 412.25
SUPPORT 2: 406.90
RESISTANCE 1: 425.90
RESISTANCE 2: 431.65
CRUDE OIL (AUG): Oil plunged the most this year on concern that Europe's sovereign-debt crisis is deepening and as a Chinese central-bank adviser said the country's economic expansion may slow further. Crude oil for September delivery fell $US3.69 to $US88.14 a barrel on the New York Mercantile Exchange. It was the biggest decrease for a front-month contract since Dec. 14. Prices are down 11 per cent this year. Expected resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 4942
SUPPORT 2: 4820
RESISTANCE 1: 5130
RESISTANCE 2: 5246
GOLD (AUG): Gold slipped on Monday as Spain's economic troubles fueled euro zone debt fears, but safe-haven bids pulled bullion off session lows, as it outperformed equities and other commodities. U.S. COMEX August gold futures settle down $5.40 at$1,577.40 an ounce, with trading volume in line with its 30-day average, preliminary Reuters data showed. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29346
SUPPORT 2: 29226
RESISTANCE 1: 29560
RESISTANCE 2: 29640
SILVER (SEP): Silver was down 0.5 percent at $27.15 an ounce, as Spain's economic troubles fueled euro zone debt fears, but safe-haven bids helped bullion outperform equities and commodities and lifted the metal off its lows. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52583
SUPPORT 2: 52169
RESISTANCE 1: 53390
RESISTANCE 2: 53860
ECONOMIC DATA TODAY 24 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Flash Manufacturing PMI | 6:30pm | 52.4 | 52.5 |
USD | HPI m/m | 7:30pm | 0.6% | 0.8% |
USD | Richmond Manufacturing Index | 7:30pm | 0 | -3 |
EUR | Flash Services PMI | 1:30pm | 47.3 | 47.1 |
EUR | Flash Manufacturing PMI | 1:30pm | 45.3 | 45.1 |
COMMODITY UPDATES 23 JULY 2012
- MCX SILVERMIC Nov contract slips
- MCX GOLDPETAL Sept contract firms up
- Gold likely to surge past two-week high
COMMODITY TRADING LEVELS FOR 23 JULY 2012
COPPER (AUG): London copper prices firmed on Monday as investors looked for bargains after the metal fell its most in a month the session before on fears Spain would need afull sovereign bailout. Three-month copper on the London Metal Exchange had edged up 0.1 percent to $7,548.75 per ton by 0122 GMT,firming after falling 2.4 percent, the most since June 21.Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 419.55
SUPPORT 2: 415.60
RESISTANCE 1: 424.89
RESISTANCE 2: 430.10
CRUDE OIL (AUG): Oil prices fell on Friday, snapping a string of seven straight higher settlements, as the euro zone debt crisis brought economic concerns back in focus and strengthened the dollar. Expiring U.S. August crude fell $1.22 to settle at $91.44 a barrel, off its low of $90.66. For the week, U.S. crude raised 4.98 percent.U.S. September crude fell $1.14 to settle at $91.83 a barrel. Volumes were tepid at less than half a million lots traded each for Brent and U.S. crude, as dealings lagged 30-day averages. ExpectedS resistance and support levels for the crude AUG contract are:
TREND CONSOLIDATE
SUPPORT 1: 5036
SUPPORT 1: 4960
RESISTANCE 1: 5141
RESISTANCE 2: 5220
GOLD (AUG): Gold edged lower on Monday under the pressure of a stronger dollar, as investors fretted about Spain's finance after its Valencia region said it might need help from Madrid. Spot gold edged down 0.2 percent to $1,580.84 announce by 0032 GMT, after posting a 0.3-percent loss last week. Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 29210
SUPPORT 2: 29150
RESISTANCE 1: 29320
RESISTANCE 2: 29390
SILVER (SEP): Silver contract closed higher by .085 at a floor price of 27.30 per troy ounce. Silver prices, which averaged $31 in the first half of the year, are expected to average $31 an ounce in the third quarter, rising to $33.01 in the last three months of the year. Silver price change was negative last week by approximately .3 percent. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 52620
SUPPORT 2: 52345
RESISTANCE 1: 53168
RESISTANCE 2: 53429
ECONOMIC DATA TODAY 23 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
AUD | PPI q/q | 7:30am | 0.3% | -0.3% |
EUR | Consumer Confidence | 7:30pm | -20 | -20 |
COMMODITY UPDATES 20 JULY 2012
- MCX SILVERM Nov contract slips
- MCX GOLDPETAL August contract trades flat
- Could oil really spike to $200/bbl by August?
COMMODITY TRADING LEVELS FOR 20 JULY 2012
COPPER (AUG): London copper prices edged up on Friday, holding near a two-week high hit in the previous session on hopes top consumer China would take more steps to boost its economy, but weak U.S. data is expected to keep a lidon gains. Three-month copper on the London Metal Exchange edged up 0.2 percent to $7,741.25 per ton by 0119 GMT. It touched a high of $7,813 per ton on Thursday, its highest since July 3.Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 424.88
SUPPORT 2: 419.90
RESIST 1: 435.60
RESIST 2: 440.20
CRUDE OIL (AUG): World oil prices hit seven-week high today as traders fretted over the impact of simmering geopolitical tensions in the crude oil-rich Middle East. Crude oil surged 3.1% higher Thursday on renewed fears about Middle East tensions following the latest flare up between Israel and Iran. Light, sweet crude for August delivery settled at $92.66 a barrel on the New York Mercantile Exchange, up $2.79. Brent crude on the ICE futures exchange was trading at $107.87 a barrel, up $2.71.Expected resistance and support levels for the crude JUL contract are:
TREND CONSOLIDATE
SUP1: 5009
SUP2: 4920
RESIST1: 5221
RESIST2: 5348
GOLD (AUG): In Comex, gold for August delivery was up by $2 at $1,580 a troy ounce at 9.42 am. The movement of rupee against dollar will continue to dictate gold price trend in India. On the MCX, it may trade in a range of Rs 29,150 to Rs 29,270 per 10 grams. Gold futures on the Multi Commodity Exchange has closed marginally lower at Rs 29,158 per 10 grams on Thursday against the previous close of Rs 29,159.Résistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND CONSOLIDATE
SUP1: 29050
SUP2: 28960
RESIST1: 29250
RESIST2: 29332
SILVER (SEP): Silver, meanwhile, is benefiting from increased demand, Commerzbank said in a note. Holdings in silver exchange-traded funds rose to nearly 575.1 million troy ounces, their highest level since May 2011, Commerzbank said in a note. Silver futures rose 0.5%, or 12.2 cents, to settle at $27.217 a troy ounce. Silver is Expected resistance and support levels for today trade are as follows.
TREND CONSOLIDATE
SUP1: 52386
SUP2: 52060
RESIST1: 52995
RESIST2: 53381
ECONOMIC DATA TODAY 19 JULY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Unemployment Claims | 6:00pm | 370K | 350K |
USD | Existing Home Sales | 7:30pm | 4.65M | 4.55M |
USD | Philly Fed Manufacturing Index | 7:30pm | -7.7 | -16.6 |
USD | CB Leading Index m/m | 7:30pm | -0.1% | 0.3% |
EUR | Current Account | 1:30pm | 5.3B | 4.6B |
RESISTANCE 2: 55120
COPPER (JUN) – Expected resistance and support level for today trade are as follows:
TREND BEARISH
SUPPORT 1: 413.65
SUPPORT 2: 408.90
RESISTANCE 1: 431.15
RESISTANCE 2: 432.00
CRUDE OIL (JUN) – Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world’s biggest crude consumer countered concern Europe’s debt crisis will worsen..Expected resistance and support levels for the crude JUN contract are:
TREND BEARISH
SUPPORT 1: 4880
SUPPORT 2: 4745
RESISTANCE 1: 5132
RESISTANCE 2: 5270
ECONOMIC DATA TODAY 1 JUNE 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Non-Farm Employment Change | 6:00pm | 152K | 115K |
USD | Unemployment Rate | 6:00pm | 8.1% | 8.1% |
USD | Average Hourly Earnings m/m | 6:00pm | 0.2% | 0.2% |
EUR | Italian Manufacturing PMI | 1:15pm | 43.5 | 43.8 |
EUR | Final Manufacturing PMI | 1:30pm | 45.0 | 45.0 |
COMMODITY UPDATES : 31 MAY 2012
- Gold set for worst May in 30 years, markets edge up
- Oil up near $104, but eyes worst month in 2 years
- MCX SILVERMIC June contract dips
COMMODITY TRADING LEVELS FOR 31 MAY 2012
GOLD (JUN) – MCX Gold surged above Rs. 29000 per 10 grams following gains in global prices as the metal continued to carve out an impressive recovery. The metal had rebounded from nearly four and half month lows of $1520 per ounce in the last week as safe haven buying finally came to the rescue of the commodity that has witnessed a free fall earlier. Gold had plummeted following a massive surge in the US dollar on worries of Grexit- Greece being ousted from Eurozone and returning to its old currency. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 28830
SUPPORT 2: 28745
RESISTANCE 1: 29305
RESISTANCE 2: 29565
SILVER (JUL) – Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:
TREND CONSOLIDATE
SUPPORT 1: 53870
SUPPORT 2: 53650
RESISTANCE 1: 54870
RESISTANCE 2: 55120
COPPER (JUN) – Base metals were accentuating on Monday, 28th May as the signs that voters in Greece may back austerity measures needed for a European Union bailout coupled with the speculation that major metal consumer China may subsidizes vehicle purchases in rural areas in order to stimulate the sluggish growth within the economy weighing on the sentiment. But, the focus on Spain's rising bond yields following the announcement of bailout plans for troubled lender Bankia was curbing huge gains in the metal space.
Expected resistance and support level for today trade are as follows:
TREND CONSOLIDATE
SUPPORT 1: 417.25
SUPPORT 2: 413.65
RESISTANCE 1: 431.15
RESISTANCE 2: 432.00
CRUDE OIL (JUN) – Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world’s biggest crude consumer countered concern Europe’s debt crisis will worsen..Expected resistance and support levels for the crude JUN contract are:
TREND BEARISH
SUPPORT 1: 4880
SUPPORT 2: 4745
RESISTANCE 1: 5132
RESISTANCE 2: 5270
ECONOMIC DATA TODAY 31 MAY 2012
CURRENCY | DETAILS | ACT DATA | FORECAST DATA | PREV DATA |
USD | Prelim GDP q/q | 6:00pm | 1.9% | 2.2% |
USD | Unemployment Claims | 6:00pm | 369K | 370K |
USD | Prelim GDP Price Index q/q | 6:00pm | 1.5% | 1.5% |
EUR | Irish Stability Treaty Vote | All Day | ||
EUR | Italian Prelim CPI m/m | 2:30pm | 0.1% | 0.5% |
COMMODITY UPDATES 30 MAY 2012
- MCX SILVER Dec contract slips
- MCX GOLD June contract trading flat
- Gold, silver tumble on weak global cues, poor demand
COMMODITY TRADING LEVELS FOR 30 MAY 2012
COPPER (JUN) – Base metals were accentuating on Monday, 28th May as the signs that voters in Greece may back austerity measures needed for a European Union bailout coupled with the speculation that major metal consumer China may subsidizes vehicle purchases in rural areas in order to stimulate the sluggish growth within the economy weighing on the sentiment. But, the focus on Spain's rising bond yields following the announcement of bailout plans for troubled lender Bankia was curbing huge gains in the metal space.
Expected resistance and support level for today trade are as follows:
TREND BULLISH
SUPPORT 1: 422.40
SUPPORT 2: 417.25
RESISTANCE 1: 431.15
RESISTANCE 2: 432.00
CRUDE OIL (JUN) – Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world’s biggest crude consumer countered concern Europe’s debt crisis will worsen..Expected resistance and support levels for the crude JUN contract are:
TREND BULLISH
SUPPORT 1: 4930
SUPPORT 2: 4880
RESISTANCE 1: 5170
RESISTANCE 2: 5270
GOLD (JUN) – MCX Gold surged above Rs. 29000 per 10 grams following gains in global prices as the metal continued to carve out an impressive recovery. The metal had rebounded from nearly four and half month lows of $1520 per ounce in the last week as safe haven buying finally came to the rescue of the commodity that has witnessed a free fall earlier. Gold had plummeted following a massive surge in the US dollar on worries of Grexit- Greece being ousted from Eurozone and returning to its old currency. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 28830
SUPPORT 2: 28745
RESISTANCE 1: 29190
RESISTANCE 2: 29305
SILVER (JUL) – Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:
TREND CONSOLIDATE
SUPPORT 1: 53800
SUPPORT 2: 53320
RESISTANCE 1: 55120
RESISTANCE 2: 56650
COMMODITY TRADING LEVELS FOR 29 MAY 2012
COPPER (JUN) – Base metals were accentuating on Monday, 28th May as the signs that voters in Greece may back austerity measures needed for a European Union bailout coupled with the speculation that major metal consumer China may subsidizes vehicle purchases in rural areas in order to stimulate the sluggish growth within the economy weighing on the sentiment. But, the focus on Spain's rising bond yields following the announcement of bailout plans for troubled lender Bankia was curbing huge gains in the metal space:
Expected resistance and support level for today trade are as follows.
TREND CONSOLIDATE
SUPPORT 1: 422.40
SUPPORT 2: 417.25
RESISTANCE 1: 430.70
RESISTANCE 2: 432.00
CRUDE OIL (JUN) – Oil rose for a third day in New York as speculation that U.S. economic growth will boost fuel demand in the world’s biggest crude consumer countered concern Europe’s debt crisis will worsen..Expected resistance and support levels for the crude JUN contract are:
TREND CONSOLIDATE
SUPPORT 1: 4930
SUPPORT 2: 4880
RESISTANCE 1: 5170
RESISTANCE 2: 5270
GOLD (JUN) – MCX Gold surged above Rs. 29000 per 10 grams following gains in global prices as the metal continued to carve out an impressive recovery. The metal had rebounded from nearly four and half month lows of $1520 per ounce in the last week as safe haven buying finally came to the rescue of the commodity that has witnessed a free fall earlier. Gold had plummeted following a massive surge in the US dollar on worries of Grexit- Greece being ousted from Eurozone and returning to its old currency. Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:
TREND CONSOLIDATE
SUPPORT 1: 28745
SUPPORT 2: 28440
RESISTANCE 1: 29190
RESISTANCE 2: 29305
SILVER (JUL) – Strengthening dollar is actually suppressing the white precious metal since last few sessions. Silver is Expected resistance and support levels for today trade are as follows:
TREND CONSOLIDATE
SUPPORT 1: 53170
SUPPORT 2: 52820
RESISTANCE 1: 55119
RESISTANCE 2: 55505
