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Weekly Newsletter27/09/2010

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

Copper, aluminum, zinc, lead around 5-mth highs

Gold futures rise above $1,300 on inflation worry

Silver climbs to 30-year peak

Oil rises in biggest weekly gain since July

U.S. total petroleum inventories have soared

Gold extended its last week rally gaining over $22 to touch an all time high of $

1299.91 after breaching its recent weekly high of $ 1290.55 & 1296.20. It touched a

weekly low of 1270.83 on profit booking as investor liquidates their positions.

The precious metal shone amid uncertain economic recovery and the chance of further

easing of US monetary policy. It also benefited from weaker economic data as US

jobless claims benefits rose unexpectedly to 465K vs. 453K and Ireland’s economy

shrinking 1.20% in second quarter. The world’s largest gold backed ETF, New York’s

SPDR gold trust reported a fall in its holdings to 1,301.433 tonnes vs. 1,304.168 due to

profit taking interest. Silver touched an all time high of 21.44 as World’s largest silver

backed ETF, the iShares silver trust holdings rose to an all time high of 9,582.59 tonnes

Copper rallied up for the second consecutive week and is at $ 362.33 on improved

fundamentals and buying momentum in the international market. Copper gained $ 11.86

or 3.36% to touch a new five month high of $363.10 and touched a weekly low of $

346.78. The fundamental factor for copper to mount on was tightening supply base and

lower inventories in one of the major consuming economy like China. It was

complimented by notion that global economy is in a mend and demand will rise in the

face of tightening supplies and second QE on the agenda will boost it.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1375 1347 1318

OUTLOOK

Trend:- Bullish

Resistance:- 1299

Support:- 1283,126

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1318 1307 1289 1278 1260

99,1325$

1263$

Buy on dips

GOLD WEEKLY


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S3 S4

1231 1202

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 24.00 23.04 22.08

OUTLOOK

Trend:- Bullish

Resistance:- 21.75,22.55

Support:- 20.80,20.35


SILVER

R2 R1 P S1 S2

22.08 21.76 21.12 20.80 20.16

21.75,22.55$

20.35$

Buy on dips

SILVER WEEKLY


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S3 S4

19.20 18.24

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 84.9 81.8 78.7

OUTLOOK

Trend:- Consolidate

Resistance:- 80.10,85.70

Support:- 73.50,69.70


CRUDE

R2 R1 P S1 S2

78.7 77.7 75.7 74.6 72.6

Consolidate

80.10,85.70$

69.70$

Buy on dips

CRUDE WEEKLY


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S3 S4

69.5 66.4

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.11 4.74 4.37

OUTLOOK

Trend:- Consolidate

Resistance:- 4.140

Support:- 3.680,2.970

Strategy:- Sell on high

NATURALGAS

R2 R1 P S1 S2

4.37 4.19 3.99 3.82 3.62

Consolidate

0,4.490$

2.970$

Sell on high

NATURALGAS WEEKLY


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S3 S4

3.25 2.87

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 406.4 390.0 373.7

OUTLOOK

Trend:- Bullish

Resistance:- 365,382

Support:- 354,343


COPPER

R2 R1 P S1 S2

373.7 368.0 357.4 351.7 341.1

,382

54,343

Buy on dips

COPPER WEEKLY


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S3 S4

324.8 308.4

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 47.71 46.93 46.15

OUTLOOK

Trend:- Bearish

Resistance:- 45.70

Support:- 44.85,43.80

Strategy:- Sell on high

USD/INR

R2 R1 P S1 S2

46.15 45.63 45.37 44.85 44.59

45.70,46.30

44.85,43.80

Sell on high

USD/INR WEEKLY


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S3 S4

43.81 43.03


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