Friday, 2 November 2012

Commodity New for Today 02 oct. 12

Gold prices are expected to witness a sideways to downward trend one can sell on rise around 31000 -31050 with a stop loss above 31170 for the downside target at 30800 -30750.

Silver prices witnessing selling pressure from higher end we expect prices to test the support at 59400 -59300. For the day we expect prices to trade within a range from 59000 to 60200. Intraday one can sell with a stop loss above 60350.

Copper prices are expected to trade within the range from 418 to 426, one can trade with a positive bias as oscillators are at the oversold zone.

Nickel prices are witnessing pressure at higher end one can expect prices to trade within the range from 865 to 895. One can trade within the range.

Lead was the strongest among the base metal pack. We expect price to cool off around 116, one can expect a support around 113.50 on lower end. Buy on dips is recommended.

Crude price are expected to trade within the range from 4620 to 4740, one can trade within the range with a side ways to positive bias. Support is building up at 4620.


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