Commodities update: 8 July 2011 technical analysis

08/07/2011	Brent	Gold	WTI Crude Oil
R3	123.65	1,543.4	101.84
R2	121.96	1,539.2	100.78
R1	120.28	1,535.0	99.73
PIVOT	117.01	1,528.8	98.36
S1	115.33	1,524.6	97.31
S2	112.06	1,518.4	95.94
S3	110.38	1,514.2	94.89

Gold update:     

·     Today gold has major supportlevel at $ 1518.40 if gold price fall below $1514.20 major breakout fordownwards.

·     If gold price go up above$1528.80 and sustain than will try to touch $1535 level.

CRUDE OIL update: technical analysis

·     On 5 July we have writtenthat above $96.18 will fly -- $ 97.31 bull will win the race --- target $100.TodayWTI crude oil has made high of $ 99 and crash.(Target Achieved)

·     Today below $95.94 bear will pull oil price towards downwards.