Weekly Newsletter-commodity

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Weekly New 25/07/2011 wsletter-Commodit www.capita ty alheight.com

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Transcript of Weekly Newsletter-commodity

Page 1: Weekly Newsletter-commodity

Weekly Newsletter25/07/2011

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 (LME)

USD/INR

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MARKET WRAP

Brent crude rises above $118 on spread buying

Spot gold approaches $1,609.97/oz

London copper ends down, supply worries cap losses

Dollar falls against many currencies

U U.S crude inventories w/w came at -3.7M vs. -1.5M.

Gold ended up for third consecutive week extending its gains to make a fresh all time

high of $1610.14 and ended the week at $1602.74. Gold extended its gains on the back of

concerns over Greek bailout plan and paired its gains with firmer Dollar. Silver ended up at

$40.08 as recovering industrial demand due to stronger global economic growth

anticipated for 2011. iShare Silver trust holdings currently stands at 9845.17 tonnes.

Copper ended down for the week with trivial loss of$8 on the back of profit booking. LME

Copper made a fresh 3 month high of $9839 as Euro fell against the dollar while U.S

copper ended at $440.60. Copper ended down on concerns over Greece debt crisis,

contraction in China’s manufacturing sector and strike in world’s largest Copper mine in

Chile. Though, LME Copper inventories fell 1,725 tonnes to 472,325 tonnes.

Crude Oil extended gains for fourth consecutive week and ended close to psychological

level of $100 at $99.81 after making a fresh one and a half month high of $100.17. U.S

crude inventories w/w came at -3.7M vs. -1.5M. Brent crude rose above $118 & ended the

week up at $118.57. Natural gas ended down this week at $4.384 shredding previous

week’s gains. U. S natural gas inventories w/w came at 60b vs. 67b.

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TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1684 1656 1627

OUTLOOK

Trend:- Bullish

Resistance:- 1614,1640

Support:- 1573,1540

Strategy:- Buy on dips

ECHNICAL VIEW

GOLD

R2 R1 P S1 S2

1627 1614 1598 1585 1569

1614,1640$

1573,1540$

Buy on dips

GOLD WEEKLY

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S3 S4

1540 1511

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WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 47.67 45.01 42.35

OUTLOOK

Trend:- Consolidate

Resistance:- 40.85,42.95

Support:- 38.80,37.75

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

42.35 41.19 39.69 38.53 37.03

Consolidate

40.85,42.95$

38.80,37.75$

Buy on dips

SILVER WEEKLY

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S3 S4

34.37 31.71

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WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 112.0 106.9 101.8

OUTLOOK

Trend:- Consolidate

Resistance:- 102,106.2

Support:- 94.7,90.4

Strategy:- Buy on dips

CRUDE

R2 R1 P S1 S2

101.8 99.1 96.7 94.1 91.6

Consolidate

102,106.2$

,90.4$

Buy on dips

CRUDE WEEKLY

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S3 S4

86.6 81.5

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WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.18 4.94 4.70

OUTLOOK

Trend:- Consolidate

Resistance:- 4.560,

Support:- 4.110,3.720

Strategy:- Sell on high

NATURALGAS

R2 R1 P S1 S2

4.70 4.55 4.46 4.31 4.22

Consolidate

0,4.950$

3.720$

Sell on high

NATURALGAS WEEKLY

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S3 S4

3.98 3.74

Page 8: Weekly Newsletter-commodity

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 10482 10216 9950

OUTLOOK

Trend:- Consolidate

Resistance:- 9790,10160

Support:- 9425,8650

Strategy:- Buy on dips

COPPER

R2 R1 P S1 S2

9950 9796 9684 9530 9418

Consolidate

9790,10160

9425,8650

Buy on dips

COPPER WEEKLY

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S3 S4

9152 8886

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WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 45.57 45.19 44.81

OUTLOOK

Trend:- Consolidate

Resistance:- 44.80,

Support:- 44.05,4

Strategy:- Sell on high

USD/INR

R2 R1 P S1 S2

44.81 44.57 44.43 44.19 44.05

Consolidate

44.80,45.30

43.40

Sell on high

USD/INR WEEKLY

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S3 S4

43.67 43.29

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