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Weekly commodity news letter by capital height 13 09-10http://www.capitalheight.com9993066624
Transcript of Financial Advisory Company | NSE BSE Intraday Tips | MCX NCDEX Tips | Free Stock Tips
Weekly Newsletter13/09/2010
Weekly Newsletter-Commodity
www.capitalheight.com
Commodity
www.capitalheight.com
www.capitalheight.com
Phone- (0731)4295950
Weekly Newsletter
Contents
Market Wrap
Technical Analysis
Gold ( Comex)
Silver ( Comex)
Crude ( Nymex)
Naturalgas ( Nymex)
Copper (Comex)
USD/INR
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Phone- (0731)4295950
MARKET WRAP
Dollar's sharp gains on yen pressured gold
Gold ends off, hit by firm dollar
Copper, aluminum stockpiles continue decline
Copper suffering its first weekly decline in four weeks
U.S. crude rose 3 percent to hit a four-week high above $76
Gold turned red after five consecutive weekly gains owing to better US economic data
and rising global equity markets. Gold has made a double top and resisted at a new two
month high of $1262 and a weekly low of $ 1237 to end at $ 1246. The shine of gold as
a safe haven became less in the later part of the week as it shred $ 11 on better than
expected US jobless claims data at 451K vs. 470K and lower US trade balance at
(-)42.88B. Gold consolidated this week as market waits for fresh momentum to climb
higher as it is in a tight range of $ 1260 - $ 1240. The world’s largest gold back ETF,
New York’s SDPR gold trust reported a drop in its holdings by 0.911 tonnes for second
consecutive weeks. Its now at 1,293.531 tonnes.
Copper settled at $ 340 ending the three consecutive weeks’ gains. Copper shred $ 8
after resisting at $351.88 and touched weekly low of $ 338. Base metals melt down
after as Chinese government clamps down on property speculation, shutters energy-
intensive factories and limits lending led by liquidation in Shanghai zinc where open
interest fell 10 percent. On an average, metals on LME slumped by 3 percent with rising
dollar against euro supported weak trend. The latest data of Chinese industrial
production came better than expected at 13.9% vs. 13.1% while its consumer prices
rose 3.5%. This economic data may support the falling copper in the coming week.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
GOLD 1325 1299 1274
OUTLOOK
Trend:- Bullish
Resistance:- 1264
Support:- 1225,1192
Strategy:- Buy on dips
ECHNICAL VIEW GOLD
R2 R1 P S1 S2
1274 1260 1248 1234 1222
64,1290$
,1192$
Buy on dips
GOLD WEEKLY
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S3 S4
1197 1171
WEEKLY PIVOT
SCRIPT R4 R3 R2
SILVER 21.59 21.01 20.43
OUTLOOK
Trend:- Bullish
Resistance:- 20.15
Support:- 19.45,18.90
Strategy:- Buy on dips
SILVER
R2 R1 P S1 S2
20.43 20.14 19.85 19.56 19.27
20.15,20.85$
18.90$
Buy on dips
SILVER WEEKLY
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S3 S4
18.69 18.11
WEEKLY PIVOT
SCRIPT R4 R3 R2
CRUDE 87.5 83.4 79.4
OUTLOOK
Trend:- Consolidate
Resistance:- 77.50,
Support:- 72.30,69.70
Strategy:- Buy on dips
CRUDE
R2 R1 P S1 S2
79.4 78.0 75.3 73.9 71.2
Consolidate
77.50,82.90$
69.70$
Buy on dips
CRUDE WEEKLY
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S3 S4
67.1 63.1
WEEKLY PIVOT
SCRIPT R4 R3 R2
NG 4.53 4.30 4.06
OUTLOOK
Trend:- Consolidate
Resistance:- 4.130
Support:- 3.680,2.970
Strategy:- Sell on high
NATURALGAS
R2 R1 P S1 S2
4.06 3.97 3.83 3.73 3.60
Consolidate
4.130,4.490$
2.970$
Sell on high
NATURALGAS WEEKLY
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S3 S4
3.36 3.13
WEEKLY PIVOT
SCRIPT R4 R3
COPPER 383.5 370.2 356.8
OUTLOOK
Trend:- Consolidate
Resistance:- 349,365
Support:- 337,323
Strategy:- Buy on dips
COPPER
R2 R1 P S1 S2
356.8 348.4 343.5 335.1 330.1
Consolidate
349,365
3
Buy on dips
COPPER WEEKLY
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Phone- (0731)4295950
S3 S4
316.7 303.4
WEEKLY PIVOT
SCRIPT R4 R3 R2
INR 48.61 47.89 47.17
OUTLOOK
Trend:- Consolidate
Resistance:- 47.15
Support:- 45.80,45.10
Strategy:- Sell on high
USD/INR
R2 R1 P S1 S2
47.17 46.71 46.45 45.99 45.73
Consolidate
5,48.10
,45.10
Sell on high
USD/INR WEEKLY
www.capitalheight.com
Phone- (0731)4295950
S3 S4
45.01 44.29
www.capitalheight.com
Phone- (0731)4295950
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