Weekly Commodity News Letter by CapitalHeight 10-01-2011 TO 14-01-2011

Weekly Newsletter10/01/2011

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

U.S. non-farm payrolls increased by 103,000 in December

U.S. jobless rate fell to 9.4 percent from 9.8 percent

Copper ended down for a fourth consecutive session

Crude oil ended down 3.7 percent for the week

Gold's biggest weekly loss since May on economic optimism

Gold ended the first week of 2011 in red shredding almost 3% on weaker

U.S economic data though physical buying from Asian markets is supporting the gold prices.

Gold opened the week at $1416.80 and made a weekly low of $1352.60 to end the week at

$ 1369.25, down $47.55. Gold ended down to due strength in dollar as ADP private jobs

jumped suddenly though weaker U.S jobless claims and Non-farm employment change

helped gold to recover. Silver fell more than 6%, its biggest weekly loss in six months as it

opened at $30.77 and ended down at $28.65, making a bearish engulfing pattern. The

holdings of the world’s largest silver backed ETF, iShares silver trust, slipped to 10892.87

tonnes on Jan 6 vs. 10964.14 tonnes on Dec 14.

Copper ended negative after five weeks shredding $19 or 4.26% to end at $426.75.

Though copper is in overall a bullish trend but ended negative after five weeks consecutive

gains posting its biggest weekly loss in seven months. Copper gains were erased due to

strengthening dollar and expected monetary tightening in major economies like China, one

of the top consumers of metals, and United States. The weaker U.S Non-farm employment

change at 103k and jobless claims at 409k prompted investors to book profit. A stronger

dollar and weak stock markets pulled down by disappointing retail sales also added

pressure on base metals. The dollar index ended up at 79.5.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1596 1524 1453

OUTLOOK

Trend:- Consolidate

Resistance:- 1391,

Support:- 1355,1330

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1453 1411 1382 1340 1311

Consolidate

1391,1421$

1355,1330$

Buy on dips

GOLD WEEKLY



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S3 S4

1239 1168

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 38.11 35.21 32.31

OUTLOOK

Trend:- Bullish

Resistance:- 29.40,30.60

Support:- 27.92,26.90


SILVER

R2 R1 P S1 S2

32.31 30.51 29.41 27.61 26.51

29.40,30.60$

27.92,26.90$

Buy on dips

SILVER WEEKLY



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S3 S4

23.61 20.71

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 105.4 100.0 94.7

OUTLOOK

Trend:- Consolidate

Resistance:- 89.60,

Support:- 86.90,85


CRUDE

R2 R1 P S1 S2

94.7 91.5 89.4 86.2 84.1

Consolidate

89.60,93.80$

85.20$

Buy on dips

CRUDE WEEKLY



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S3 S4

78.7 73.4

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.61 5.23 4.85

OUTLOOK

Trend:- Consolidate

Resistance:- 4.690

Support:- 3.860,3.

Strategy:- Sell on high

NATURALGAS

R2 R1 P S1 S2

4.85 4.63 4.48 4.26 4.10

Consolidate

0,4.990$

3.520$

Sell on high

NATURALGAS WEEKLY



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S3 S4

3.72 3.34

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 507.4 482.7 458.0

OUTLOOK

Trend:- Bullish

Resistance:- 434,452

Support:- 419,399


COPPER

R2 R1 P S1 S2

458.0 442.4 433.3 417.7 408.6

452

,399

Buy on dips

COPPER WEEKLY



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S3 S4

383.9 359.2

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 48.03 47.06 46.09

OUTLOOK

Trend:- Consolidate

Resistance:- 45.80

Support:- 44.70,43.90


USD/INR

R2 R1 P S1 S2

46.09 45.72 45.12 44.75 44.15

Consolidate

0,46.70

43.90

Buy on dips

USD/INR WEEKLY



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S3 S4

43.18 42.21



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Weekly Commodity News Letter by CapitalHeight 10-01-2011 TO 14-01-2011

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Transcript of Weekly Commodity News Letter by CapitalHeight 10-01-2011 TO 14-01-2011