copper n crude trends...

[RaahiShah]

COPPER (APR) – A deceleration in macro trends, particularly out of China, is preventing prices from pushing substantially above the top end of the range, while on the downside, prices are being supported by a steady decline in LME inventories and the fact that the global supply/demand picture is pointing to yet another deficit in 2012,” they added. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 429.77
SUPPORT 2: 428.73
RESIST 1: 431.72
RESIST 2: 432.63

CRUDE OIL (APR) – Oil fell for the third time in four days after Iran agreed to resume talks on its nuclear program and economic reports in the U.S. and China raised concern about fuel demand. Futures slid as much as 1.4 percent after climbing 1.8 percent on April 5. International negotiations with Iran’s government are scheduled to start this week over its nuclear program. China said inflation in March accelerated more than forecast, reducing the government’s leeway to boost the economy. The U.S. created a less-than-forecast 120,000 jobs in March, the smallest increase in five months, an April 6 report showed. Expected resistance and support levels for the crude March contract with expiry date of 19 APRIL 2012 are:

SUPPORT 1: 5280
SUPPORT 2: 5270
RESIST 1: 5300
RESIST 2: 5305
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