Commodity Trends : 4-June-2012

[RaahiShah]

GOLD (JUN) –Gold had plummeted following a massive surge in the US dollar on worries of exit- 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 BULLISH
SUPPORT 1: 28830
SUPPORT 2: 28745
RESIST 1: 29675
RESIST 2: 29290

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 BULLISH
SUPPORT 1: 28830
SUPPORT 2: 28745
RESIST 1: 29675
RESIST 2: 29290
COPPER (JUN) – Expected resistance and support level for today trade are as follows:
TREND BEARISH
SUPPORT 1: 402.50
SUPPORT 2: 394.60
RESIST 1: 417.90
RESIST 2 : 421.55

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: 4480
SUPPORT 2: 4345
RESIST 1: 4732
RESIST 2 : 4870

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