Weekly Commodity Tips By

Weekly Newsletter14/02/2011

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. oil falls to 10-wk low as Mubarak steps down

Gold slips from earlier 3-week high near $1,370/oz

Largest silver ETF posts first inflow since Jan. 24

Copper ends up after Egypt's Mubarak steps down

Copper in LME warehouses fell 225 tonnes, aluminium fell 2,325 tonnes

Gold ended up marginally though its shine faded post economic stability in Egypt, lower

U.S jobless claims and better than expected Fed budget balance signaling economic

recovery. Gold gained nearly $10 and made weekly high of $1368 to end at $1356.2. The

holdings of the world’s largest gold backed ETF, New York’s SPDR too slipped to their

lowest level since January to 1,225.526 tonnes vs. 1,226.436 tonnes.

Copper ended negative at $ 455.15 but recovered nearly 5% from $430.9 owing to

number of positive economic data and reversal in global equity market. LME copper ended

$10 higher at $9,961; near its recent peak of $10,160. Copper is overall bullish and buyers

strike in at lower levels. LME copper warehouse fell 225 tonnes to 396,275 tonnes though

Shanghai stockpiles rose nearly 10,000 tonnes to 144,197 tonnes.

Crude oil ended down nearly $5 this week to end near its new ten week low of $85.10 at

$85.47. Egypt’s president stepping down pushed crude oil prices down, also, on the

concerns about potential oil supply disruptions. Though, news of turmoil in Cairo could

spread to major oil producers in the Middle East sent Brent crude higher to end above

$100. Crude oil inventories came down at 1.9M vs. 2.6M as against expected 2.2M.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1430 1405 1380

OUTLOOK

Trend:- Consolidate

Resistance:- 1368

Support:- 1338,131

Strategy:- Sell on high

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1380 1368 1356 1343 1331

Consolidate

8,1385$

315$

Sell on high

GOLD WEEKLY



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S3 S4

1306 1281

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 34.32 32.81 31.30

OUTLOOK

Trend:- Consolidate

Resistance:- 30.25,30.92

Support:- 29.35,28.

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

31.30 30.57 29.79 29.06 28.28

Consolidate

30.25,30.92$

28.70$

Buy on dips

SILVER WEEKLY



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S3 S4

26.77 25.26

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 99.9 95.5 91.0

OUTLOOK

Trend:- Consolidate

Resistance:- 87.30,

Support:- 83.70,80.20


CRUDE

R2 R1 P S1 S2

91.0 88.2 86.6 83.8 82.2

Consolidate

87.30,92.20$

,80.20$

Sell on high

CRUDE WEEKLY



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S3 S4

77.8 73.4

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.12 4.75 4.38

OUTLOOK

Trend:- Consolidate

Resistance:- 4.290,

Support:- 3.770,3.200


NATURALGAS

R2 R1 P S1 S2

4.38 4.14 4.01 3.77 3.64

Consolidate

4.290,4.790$

3.770,3.200$

Sell on high

NATURALGAS WEEKLY



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S3 S4

3.27 2.90

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 545.8 513.8 481.7

OUTLOOK

Trend:- Bullish

Resistance:- 464,48

Support:- 443,429


COPPER

R2 R1 P S1 S2

481.7 468.4 449.7 436.4 417.6

,481

9

Buy on dips

COPPER WEEKLY



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S3 S4

385.6 353.5

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 47.59 46.89 46.

OUTLOOK

Trend:- Consolidate

Resistance:- 45.85,46.25

Support:- 45.10,44.


USD/INR

R2 R1 P S1 S2

46.19 45.89 45.49 45.19 44.79

Consolidate

45.85,46.25

44.70

Buy on dips

USD/INR WEEKLY



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S3 S4

44.09 43.39



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