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Transcript of Intraday Tips | Commodity Tips | MCX Tips | Agri Commodity Tips
Weekly Newsletter22/11/2010
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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MARKET WRAP
Gold ended down for 2nd consecutive week
Silver rebounded and ended up at $27.27
Crude oil falls biggest since august, down 3.97%
Copper ended down with moderate loss
Weekly commodities Open interest down most since 2008
Gold ended down for second consecutive week owing to global economic instability
though recovered its losses later in the week as worries over Irish debt contagion eased
down on aid hopes, still, China’s monetary maneuvers kept it under pressure.
Gold ended the week at $1353.35 and shredded almost $17. The precious metal
touched the weekly low of $1329.50 due to sell-off in commodities owing to China’s
imminent rate hike that happened later in the week. Also, another rate hike may cause
more downward pressure in commodities though most has been priced in and volatility
in gold will sustain. World’s largest gold-backed ETF, New York’s SPDR said its
holdings slipped to a one-month low of 1,286.299 tonnes.
Copper saw downside pressure this week due to sell-off in commodities as it touched
the weekly low of $360.30 but recovered almost $22 to end the week at $382.73.
The pressure was due to rate hike of China to control its inflation which was priced by
investors. Copper recovered on hopes that recent rate hike will not suppress the
demand and it will remain as expected complimented by positive US economic data and
concerns over Euro zone sovereign debt crisis eased on aid hopes. The Philly fed
manufacturing index came better than expected at 22.5 vs. 1.0 as against expected 5.1.
The ZEW economic sentiment too came up at 13.8 vs. 1.8 & GBP Core CPI y/y came
up at 1.1% vs. 1.0%.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
GOLD 1495 1448 1401
OUTLOOK
Trend:- Consolidate
Resistance:- $1377
Support:- $1338,131
Strategy:- Buy on dips
ECHNICAL VIEW GOLD
R2 R1 P S1 S2
1401 1377 1354 1330 1307
Consolidate
77,1401
1317
Buy on dips
GOLD WEEKLY
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S3 S4
1260 1213
WEEKLY PIVOT
SCRIPT R4 R3 R2
SILVER 33.77 31.36 28.95
OUTLOOK
Trend:- Consolidate
Resistance:- $28.1
Support:- $26.35,
Strategy:- Buy on dips
SILVER
R2 R1 P S1 S2
28.95 28.11 26.54 25.70 24.13
Consolidate
28.15,29.34
,24.95
Buy on dips
SILVER WEEKLY
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S3 S4
21.72 19.31
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CRUDE
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
CRUDE 98.1 93. 1 87.9 84.9 82.8 79.8 77.7 72.6 67.5
OUTLOOK
Trend:- Consolidate
Resistance:- $88.50,94.60
Support:- $80.01,75.5
Strategy:- Sell on highs
CRUDE WEEKLY
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NATURALGAS
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NG 5.39 4.93 4.47 4.31 4.01 3.85 3.85 3.55 3.09
OUTLOOK
Trend:- Consolidate
Resistance:- $4.270,4.510
Support:- 3.720,3.250$
Strategy:- Buy on dips
NATURALGAS WEEKLY
WEEKLY PIVOT
SCRIPT R4 R3
COPPER 482.9 448.4 413.8
OUTLOOK
Trend:- Consolidate
Resistance:- $398
Support:- $365,35
Strategy:- Buy on dips
COPPER
R2 R1 P S1 S2
413.8 398.2 379.3 363.7 344.7
Consolidate
8,414
,354
Buy on dips
COPPER WEEKLY
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S3 S4
310.2 275.6
WEEKLY PIVOT
SCRIPT R4 R3 R2
INR 48.08 47.10 46.12
OUTLOOK
Trend:- Consolidate
Resistance:- 45.80
Support:- 44.70,4
Strategy:- Buy on dips
USD/INR
R2 R1 P S1 S2
46.12 45.68 45.14 44.70 44.16
Consolidate
80,46.20
44.15
Buy on dips
USD/INR WEEKLY
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Phone- (0731)4295950
S3 S4
43.18 42.20
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Phone- (0731)4295950
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