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Three-month copper rose as much as 0.5% to $7,544 a ton on the London Metal Exchange, before trading at $7,530 at 11:27 am. The September-delivery contract on the Comex gained 0.2% to $3.4085 a pound .Expected resistance and support level for today trade are as follows.
TREND BULLISH
SUPPORT 1: 414.60
SUPPORT 2: 406.85
RESISTANCE 1: 428.40
RESISTANCE 2: 428.25
CRUDE OIL (JUN) – Crude-oil options volatility declined to the lowest in three weeks as underlying futures rose on speculation that the Federal Reserve will do more to boost the economy. Crude oil for August delivery gained 75 cents, or 0.9 percent, to settle at $84.35 a barrel on the Nymex.. Expected resistance and support levels for the crude JUN contract are:TREND CONSOLIDATE
SUPPORT1: 4565
SUPPORT2: 4520
RESISTANCE1: 4775
RESISTANCE2: 4880
GOLD (AUG) – Comex gold is modestly higher as the euro also edged up modestly, but overall is not moving much as the market awaits the outcome of a two-day Federal Open Market Committee.
As of Tuesday EDT, August gold was $3.50 higher at $1,630.50 an ounce.
Resistance and support levels for the today’s session for Gold AUG contract 2012 are:
TREND BULLISH
SUPPORT1: 29870
SUPPORT2: 29185
RESISTANCE1: 30555
RESISTANCE2: 30985
SILVER (JUL) – Silver for July delivery was little changed at $28.925 an ounce. Inflation is a reality that eats away at the value of all paper currencies, while boosting the value of hard currencies like silver. Silver is Expected resistance and support levels for today trade are as follows:
SUPPORT1: 53820
SUPPORT2: 52820
RESISTANCE1: 55535
RESISTANCE2: 56530
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Well, Indian stocks had been going up in the hope of RBI policy that it would be heading towards monetary easing in order to support growth. Now, world markets are upbeat about more stimulus coming their way from the Federal Reserve later on Wednesday.
One problem with keeping high expectations is the risk of some of them not being met. So, while the global economic conditions do merit urgent policy action, it ought to come from the fiscal side and not from the monetary side.
The start is going to be a positive one as the world’s leading markets galloped on increasing speculation about some sort of easing from the FOMC and other central banks.
One problem with keeping high expectations is the risk of some of them not being met. So, while the global economic conditions do merit urgent policy action, it ought to come from the fiscal side and not from the monetary side.
The start is going to be a positive one as the world’s leading markets galloped on increasing speculation about some sort of easing from the FOMC and other central banks.
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