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Weekly Newsletter04/07/2011
Weekly Newsletter-Commodity
www.capitalheight.com
Commodity
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Phone- (0731)4295950
Weekly Newsletter
Contents
Market Wrap
Technical Analysis
Gold ( Comex)
Silver ( Comex)
Crude ( Nymex)
Naturalgas ( Nymex)
Copper (Mcx)
USD/INR
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MARKET WRAP
China PMI hits 28-month low, weighs on oil prices
Oil falls on weak China data, economic worry
U.S. consumer sentiment worsened in June
Gold fell more than 1 percent on Friday to a six-week low
Copper rises for fourth day on bright U.S. data
Gold ended down for second consecutive week shredding nearly $13 to end the week at
$1487.79 after hitting 6-month low. Gold came under pressure as dollar rebounded and
U.S crude oil fell more than $2, also, with no Greek default, investors liquidated their
positions in Gold. Silver eclipsed gold and ended down nearly $1 at 33.86.,
iShare silver trust fell 1.4 million in this quarter, biggest outflow since its launch.
Copper ended up on the back of positive economic data to end the week up at $429.20.
Copper rallied as U.S data ISM manufacturing PMI came up at 55.3 vs. 53.5 as against
expected at 51.9 whit copper upside was capped by Chinese data that showed factory
activity slowed. LME 3-month copper ended up at $9435 after making a two month high.
Though, low decline in LME inventories, copper may correct next week.
Crude oil rebounded and ended the week up on the back of positive economic data, a
rebound in Dollar and signs of better demand though its gains were capped by
disappointing Chinese factory PMI data. Crude oil added more than $4 to end the week up
at $94.70 as it took support of its 50% retracement and its support trendline drawn from
lows of 2008. IEA crude oil inventories came lower at (–) 4.4m vs. (-) 1.5m w/w.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
GOLD 1600 1564 1529
OUTLOOK
Trend:- Consolidate
Resistance:- 1523,
Support:- 1478,1445
Strategy:- Sell on high
ECHNICAL VIEW
GOLD
R2 R1 P S1 S2
1529 1508 1493 1472 1457
Consolidate
1523,1548$
,1445$
Sell on high
GOLD WEEKLY
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S3 S4
1422 1386
WEEKLY PIVOT
SCRIPT R4 R3 R2
SILVER 39.42 37.65 35.88
OUTLOOK
Trend:- Consolidate
Resistance:- 35.10,37.85
Support:- 33.15,32
Strategy:- Sell on high
SILVER
R2 R1 P S1 S2
35.88 34.87 34.11 33.10 32.34
Consolidate
35.10,37.85$
32.45$
Sell on high
SILVER WEEKLY
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S3 S4
30.57 28.80
WEEKLY PIVOT
SCRIPT R4 R3 R2
CRUDE 112.0 105.8 99.6
OUTLOOK
Trend:- Consolidate
Resistance:- 95.5,98.7
Support:- 89.7,81.3
Strategy:- Sell on high
CRUDE
R2 R1 P S1 S2
99.6 97.1 93.4 90.9 87.2
Consolidate
,98.7$
81.3$
Sell on high
CRUDE WEEKLY
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S3 S4
81.0 74.7
WEEKLY PIVOT
SCRIPT R4 R3 R2
NG 5.00 4.77 4.54
OUTLOOK
Trend:- Consolidate
Resistance:- 4.540,
Support:- 4.110,3.720
Strategy:- Sell on high
NATURALGAS
R2 R1 P S1 S2
4.54 4.43 4.31 4.20 4.08
Consolidate
4.540,4.950$
3.720$
Sell on high
NATURALGAS WEEKLY
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S3 S4
3.85 3.62
WEEKLY PIVOT
SCRIPT R4 R3
COPPER 478.4 458.8 439.3
OUTLOOK
Trend:- Consolidate
Resistance:- 435,446
Support:- 418,399
Strategy:- Buy on dips
COPPER
R2 R1 P S1 S2
439.3 432.6 419.7 413.0 400.2
Consolidate
435,446
418,399
Buy on dips
COPPER WEEKLY
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S3 S4
380.6 361.1
WEEKLY PIVOT
SCRIPT R4 R3 R2
INR 46.61 45.99 45.37
OUTLOOK
Trend:- Consolidate
Resistance:- 45.30
Support:- 44.15,4
Strategy:- Buy on dips
USD/INR
R2 R1 P S1 S2
45.37 45.00 44.75 44.38 44.13
Consolidate
0,45.85
43.40
Buy on dips
USD/INR WEEKLY
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S3 S4
43.51 42.89
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