WEEKLY Commodity Tips by

Weekly Newsletter02/05/2011

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



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MARKET WRAP

Gold jumps more than 3 pct to set record high

Silver gained 3 percent this week

Copper fell to a six-week low on Friday

Copper down for 2nd straight month

Oil rises to post 8th straight monthly gain

Gold ended up more than 3% and made a fresh all time high of $1569.35 on the back of

concerns over inflation at highest level, weak dollar and Fed’s policy. Gold can further test

the level of $1600 based on its wave pattern and strong buying of call options & spreads at

$1800. Silver retreated back from $49.83 to end at $48.02, making a Doji, gaining trivial

0.31%. iShare silver trust holdings fell to 11021.34 vs. 11,150.3 tonnes.

Copper ended down nearly 4% as technical pressures mounted and rising concerns over

economic slowdown and higher inflation that can lead to interest rate hike in Europe, Asia

and Latin America kept copper down. Chinese copper inventories in bonded warehouses

also rose in April signaling weaker outlook. Copper stocks monitored by Shanghai Futures

fell for 6th straight week to lowest level since mid- Feb.

Crude Oil jumped and gained nearly 1% making a fresh 32-month of $114.17 and ended

on a strong note at $113.69. Crude oil rose as the weaker dollar and turmoil in North Africa

and the Middle East offset concerns about fuel demand and slowing U.S. economic

growth. Crude is in overall uptrend channel formation and can test the upward resistance

line at $119. EIA crude oil inventories came at 6.2M vs. (-) 2.3M.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1770 1694 1618

OUTLOOK

Trend:- Bullish

Resistance:- 1590,1637

Support:- 1527,1493

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1618 1590 1541 1513 1465

0,1637$

1493$

Buy on dips

GOLD WEEKLY



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S3 S4

1389 1312

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 62.86 57.69 52.52

OUTLOOK

Trend:- Bullish

Resistance:- 47.90,

Support:- 46.55,42.90


SILVER

R2 R1 P S1 S2

52.52 50.10 47.35 44.93 42.18

0,51.30$

,42.90$

Buy on dips

SILVER WEEKLY



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S3 S4

37.01 31.84

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 123.1 119.7 116.3

OUTLOOK

Trend:- Bullish

Resistance:- 117.3

Support:- 110.3,105.3


CRUDE

R2 R1 P S1 S2

116.3 115.0 112.9 111.6 109.5

117.3,122$

105.3$

Buy on dips

CRUDE WEEKLY



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S3 S4

106.0 102.6

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.51 5.20 4.89

OUTLOOK

Trend:- Consolidate

Resistance:- 4.930,

Support:- 4.190,3.


NATURALGAS

R2 R1 P S1 S2

4.89 4.78 4.58 4.47 4.27

Consolidate

0,5.230$

3.520$

Buy on dips

NATURALGAS WEEKLY



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S3 S4

3.96 3.65

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 509.0 480.0 450.9

OUTLOOK

Trend:- Consolidate

Resistance:- 429,44

Support:- 409,394

Strategy:- Sell on high

COPPER

R2 R1 P S1 S2

450.9 434.2 421.9 405.2 392.8

Consolidate

445

394

Sell on high

COPPER WEEKLY



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S3 S4

363.8 334.7

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 45.77 45.29 44.81

OUTLOOK

Trend:- Consolidate

Resistance:- 44.75

Support:- 43.80,43.

Strategy:- Sell on high

USD/INR

R2 R1 P S1 S2

44.81 44.53 44.33 44.05 43.85

Consolidate

75,45.30

,43.20

Sell on high

USD/INR WEEKLY



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S3 S4

43.37 42.89



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