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COMMODITY MARKET WRAP 16 JULY 2012

Posted by IntradayTips on July 16th, 2012

 

 

BASE METAL WRAP:Copper traders are the most bearish in six weeks on concern demand will slow in China, Europe and the US at a time when hedge funds are betting on lower prices. Copper fell 0.3% to $7,577 a tonne this year on the London Metal Exchange after slumping 21% last year. The MSCI World Index of equities gained 2% since the start of January and the S&P GSCI gauge of 24 commodities slid 4.6%.

 

 

COPPER (AUG)

TREND CONSOLIDATE

SUPPORT 1: 418.05

SUPPORT 2: 414.20

RESISTANCE 1: 425.15

RESISTANCE 2: 428.45

CRUDE OIL (JUL)

TREND CONSOLIDATE

SUPPORT1: 4700

SUPPORT2: 4620

RESISTANCE1: 4825

RESISTANCE2: 4920

GOLD (AUG)

TREND BEARISH 

SUPPORT1: 29180

SUPPORT2: 29115

RESISTANCE1: 29368

RESISTANCE2: 29491  

Intraday Tips

Posted by NiftyTips on October 17th, 2011

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