Commodity News and Insights for Traders and Investors COPPER (AUG): While metal prices are likely be pressured by traders cutting long positions given an uncertain global demand outlook. Three-month copper on the London Metal Exchange edged down 0.1 percent to $7,719.25 per metric ton (1.1023 tons) by 9.15 p.m. EDT on Wednesday, after falling 1.2 percent in the prior session..Expected resistance and support level for today trade are as follows. TREND CONSOLIDATE SUPPORT 1: 424.20 SUPPORT 2: 422.00 RESISTANCE 1: 430.60 RESISTANCE 2: 434.70 CRUDE OIL (JUL) : One day after surging more than 3 percent amid one of the biggest commodity-sector rallies ever, August Brent crude fell 91 cents to settle at $99.77 a barrel. NYMEX crude dipped 60 cents to $87.06 a barrel by 1745 GMT, with volumes thinned by the U.S. Independence Day holiday. Crude inventories tumbled by 3 million barrels in the week to June 29, well above the 1.9-million-barrel drawdown forecast by analysts, with Gulf Coast stocks off nearly 4.3 million barrels..Expected resistance and support levels for the crude JUN contract are: TREND BULLISH SUPPORT1: 4640 SUPPORT2: 4523 RESISTANCE1: 4838 RESISTANCE2: 4919 GOLD (AUG): Gold held steady around USD 1,615 an ounce on Thursday, as the anticipation of a rate cut by the European Central Bank offset the impact of a stronger dollar. Spot gold was little changed at USD 1,614.79 an ounce by 0020 GMT.US gold futures contract for August delivery edged down 0.4% to USD 1,615.60.Resistance and support levels for the todayâs session for Gold AUG contract 2012 are: TREND CONSOLIDATE SUPPORT1: 29399 SUPPORT2: 29325 RESISTANCE1: 29592 RESISTANCE2: 29711 SILVER (SEP) : Silver for immediate delivery declined 0.5 percent to $28.125 an ounce..Some sees relative strength in silver as compared to gold. They advocates buying silver on dips at Rs 53,700 per kilogram with a stop loss of Rs 53,500 per kilogram for a target of 54,000-54,100 per kilogram on intraday basis.. Silver is Expected resistance and support levels for today trade are as follows: TREND CONSOLIDATE SUPPORT1: 53465 SUPPORT2: 53225 RESISTANCE1: 53922 RESISTANCE2: 54139 Get free commodity tips, silver price,Gold price,crude oil, commodity market tips,commodities, best commodity tips,crude oil prices. FREE COMMODITY TIPS