Commodity buying and selling levels

[Shah, Vikas (IND Int)]

 

 

 

	Pivot	Buying Levels	Selling Levels
GOLD SPOT $/OZ	1534.667	1550.2025	1534.07375	Our levels continue to guide the investors in the turbulent markets. With Gold moving absolutely sideways only a breach of $1550 or 22700 will bring about buying in gold prices.
GOLD FUTURE       Aug11	22548.67	22700	22538.85
GOLD FUTURE       Oct11	22817	22959.1	22808.95
SILVER SPOT $/OZ	35.82873	36.55191	35.829045	Silver continued its rangebound movement for the fifth consecutive session. We look for 54281 for a quick sclap towards 54555. Above 54555 the trend is expected to change in positive direction.
SILVER FUTURE     Jul11	53775	54555.9	53732.55
SILVER FUTURE     Sep11	54621.33	55405.45	54564.775
LME COPPER    3MO ($)	9102	9186.85	9049.075	Copper touched 400 yesterday but then it opened gap up and is trading at 406 levels.  For today 407 is an important resistance anything above that can be used as an opportunity to buy.
COPPER FUT (MCX)  Jun11	402.9833	407.645	401.9525
COPPER FUT (MCX)  Aug11	408.1167	412.515	407.3175
LME NICKEL    3MO ($)	21801	22025.4	21224.6	For once we recommed taking profits in nickle shorts. Chart inidcate a possible pullback nad above 991 prices can touch 1005 levels,
NICKEL FUT (MCX)  Jun11	976.1333	991.025	969.575
NICKEL FUT (MCX)  Jul11	985.2333	999.42	979.18
WTI CRUDE FUTURE  Jul11	92.63	94.5525	92.61375	A pullback can also be seen in crude oil  with prices above 94.55 expected to take crude towards $96. As in case of nickle this is expected to be a pull back and not a trend change.
CRUDE OIL FUT     Jun11	4157	4227.15	4150.425
CRUDE OIL FUT     Jul11	4193	4255	4189

 

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