weekly Commodity report

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Weekly New 18/07/2011 wsletter-Commodit www.capita ty alheight.com

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Transcript of weekly Commodity report

Page 1: weekly Commodity report

Weekly Newsletter18/07/2011

Weekly Newsletter-Commodity

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Commodity

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Weekly Newsletter

Contents

Market Wrap

Technical Analysis

Gold ( Comex)

Silver ( Comex)

Crude ( Nymex)

Naturalgas ( Nymex)

Copper (Comex)

USD/INR

Page 3: weekly Commodity report

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MARKET WRAP

Silver up on bargain hunting, up 2.67% at $39.23

Gold makes a new all time high of $1594.29

U.S consumer sentiment lowest since March 2009

Crude oil rebounds on concerns of low supply

Copper ends up for third consecutive weekly gain

Gold ended up for second consecutive week and made a fresh all time high of $1594.29

and ended the week on a very strong note at $1593.34. Precious metals gains on the back

of disappointing result of European banks and biggest fall in U.S consumer sentiment and

can further rally to $1610 in the near term. Silver eclipsed gold and ended up for 2nd

consecutive week after making a fresh 2-month high of $39.36 to end the week at $39.23.

Copper ended up with trivial gains though recovered nearly 2.5% to end the week on

positive basis at $440.50. Copper ended up for 3rd consecutive week as Dollar

strengthened while the 3- month LME copper too ended up at $9663. Copper inventories

in warehouses monitored by the Shanghai Futures Exchange rose 22.3 percent while

Copper inventories at LME warehouses were unchanged at 462,025 tonnes on w/w basis.

Crude oil extended its gains to third consecutive week to end up at $97.32 after making a

weekly high of $99.20. Crude oil gained on the back of concerns over lower supply for a

Canadian export pipeline, short covering on the week-end and strengthening Dollar.

Brent crude ended the week on negative basis at $117.57 while premium declined to

$20.25 vs. $22 w/w. EIA crude oil inventories came at (-) 3.1M vs. expected at (-) 2.3M.

Page 4: weekly Commodity report

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1738 1684 1630

OUTLOOK

Trend:- Bullish

Resistance:- $1610

Support:- $1575,

Strategy:- Buy on dips

ECHNICAL VIEW

GOLD

R2 R1 P S1 S2

1630 1611 1576 1557 1522

610, 1630

1550

Buy on dips

GOLD WEEKLY

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S3 S4

1468 1414

Page 5: weekly Commodity report

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 51.56 46.97 42.38

OUTLOOK

Trend:- Consolidate

Resistance:- $40.79

Support:- $37.77,

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

42.38 40.80 37.79 36.21 33.20

Consolidate

$40.79, 42.86

, 36.39

Buy on dips

SILVER WEEKLY

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S3 S4

28.61 24.02

Page 6: weekly Commodity report

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 113.6 107.99 102.3

OUTLOOK

Trend:- Consolidate

Resistance:- $103.4

Support:- $94.6, 9

Strategy:- Buy on dips

CRUDE

R2 R1 P S1 S2

102.3 99.8 96.7 94.1 91.1

Consolidate

$103.4, 106.9

93.2

Buy on dips

CRUDE WEEKLY

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S3 S4

85.4 79.7

Page 7: weekly Commodity report

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.53 5.15 4.78

OUTLOOK

Trend:- Consolidate

Resistance:- $4.715

Support:- $4.050,

Strategy:- Buy on dips

NATURALGAS

R2 R1 P S1 S2

4.78 4.66 4.41 4.29 4.04

Consolidate

715, 5.180

, 3.720

Buy on dips

NATURALGAS WEEKLY

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S3 S4

3.67 3.30

Page 8: weekly Commodity report

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 10421 10151 9881

OUTLOOK

Trend:- Consolidate

Resistance:- $9790

Support:- $9425, 8650

Strategy:- Sell on high

COPPER

R2 R1 P S1 S2

9881 9772 9611 9502 9341

Consolidate

$9790, 10160

$9425, 8650

Sell on high

COPPER WEEKLY

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S3 S4

9071 8801

Page 9: weekly Commodity report

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 45.86 45.40 44.94

OUTLOOK

Trend:- Consolidate

Resistance:- 44.80

Support:- 44.15,4

Strategy:- Sell on high

USD/INR

R2 R1 P S1 S2

44.94 44.71 44.48 44.25 44.02

Consolidate

80, 45.85

43.40

Sell on high

USD/INR WEEKLY

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S3 S4

43.56 43.10

Page 10: weekly Commodity report

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