COMMODITY INVESTMENT GUIDELINES AND UPDATES 22-MAY-2012

[RaahiShah]

GOLD (JUN) – A short-covering rally that has been a long time coming finally arrived for gold, with chart support emerging in the low $1,500s, which supported the market twice in 2011,.Resistance and support levels for the today’s session for Gold JUN contract which will expire IN JUNE 2012 are:

TREND BULLISH

SUPPORT 1: 28880

SUPPORT 2: 28635

RESIST 1 : 29210

RESIST 2 : 29305

SILVER (JUL) – United States mined silver production declined by 9% versus last year and was down 6% versus January’s levels, as per latest data released by the United States Geological Survey (USGS).Silver is Expected resistance and support levels for today trade are as follows.

TREND CONSOLIDATE

SUPPORT 1: 53430

SUPPORT 2: 52820

RESIST 1 : 55805

RESIST 2 :57430

COPPER (JUN) – Indian commodity futures market which witnessed rapid growth in trade volumes in the past few years has receded a bit in the first month of the current financial year (2012-13) with Forward Mraket Commission (FMC) data showing 10% decline. Expected resistance and support level for today trade are as follows.

TREND BULLISH

SUPPORT 1: 413.65

SUPPORT 2: 418.10

RESIST 1 : 431.15

RESIST 2 : 436.85

CRUDE OIL (MAY) – Bahrain oil production is expected to double to 100,000 barrels a day (bpd) from the current 50,000 bpd within five years, said Abdul-Hussain Ali Mirza, Bahrain’s energy minister.Expected resistance and support levels for the crude MAY contract are:

TREND BEARISH

SUPPORT 1: 4980

SUPPORT 2: 4880

RESIST 1 :5170

RESIST 2 : 5305

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