MCX crude oil weakens resistance at Rs: 4635 4675: Angel

On account of upbeat global market sentiments and expectations of an improvement in the global economic scenario we expect crude oil prices to trade on a positive note.
Apart from that, dollar weakness will also provide support by making the dollar-denominated commodity look attractive for holders of other currencies.
MCX Crude Nov’11 Rs/bbl support:4533.0/4471.0 resistance: 4635-4675
Courtesy: Karvy Commtrade Ltd.
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MCX copper tumbles resistance at Rs.407.90 413.90: Angel

We expect base metals to trade on a positive note today as upbeat global market sentiments coupled with dollar weakness will support upside in prices.
MCX Copper Nov’11 Rs /kg support:396.80/390.80 resistance:407.90/413.90
MCX Zinc Oct’11 Rs /kg support:93.70/92.70 resistance:95.25/96.20
MCX Lead Oct’11 Rs /kg support:97.80/96.50 resistance:100.25/101.50
MCX Aluminum Oct’11 Rs /kg support:108.70/107.50 resistance:111.10/112.40
MCX Nickel Oct’11 Rs /kg support:962.50/950.20 resistance:985.70/996.60
Courtesy: Angel Commodities
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MCX gold edges higher support at Rs.27650 27420: Angel

We expect gold and silver to trade on a positive note today on account of dollar weakness.
Gains in gold are also expected to be driven on the back of inflationary expectations, thus supporting the safe-haven asset even in times of risk appetite.
MCX Gold Dec’11 Rs/10 gms support:27650/27420 resistance:28075/28305
MCX Silver Dec'11 Rs/kg support:56866/55744 resistance:58980/60100
Courtesy: Karvy Commtrade Ltd.
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