Weekly Commodity Tips By

Weekly Newsletter31/01/2011

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

Tight supply seen sending copper to fresh peaks

Lead prices are expected to outshine zinc

Gold posted its biggest gains in eight weeks on Friday

Oil spiked by more than 4 percent

Silver rose 3.5 percent to $27.82 an ounce.

Gold ended down for fourth week, its longest weekly consecutive decline, and made a

new 4-month low of $1307.88. Gold ended down due to upbeat U.S consumer spending

data and rising equity markets but edged almost 2% up later in the week due to U.S GDP

data at 3.2% against expected 3.5%. Holdings of the SPDR gold trust, world’s largest gold

backed ETF, fell to an 8-month low of 1226.546 vs. 1,251.433 tonnes.

Copper ended 1.2% up and recovered almost 3.5% from its weekly low of $420.08 while

LME copper ended near its record high of $9781 at $9635. U.S consumer spending at 4

years high & strong exports as economy regained its pre-recession peak supported

copper. Copper prices defied the LME inventories being more of speculative bet as stocks

added 800 tonnes to 398.075 tonnes, their highest level since September.

Crude oil ended marginally up at $89.42 but gained almost 4% from its weekly low of

$85.10 with U.S economy expanding it its fourth quarter sparking hopes for better

demand. Brent crude surged and ended near $100 on Egyptian unrest while U.S

consumer spending at 4 years high complimented oil prices. The EIA reported crude oil

inventories w/w came up at 4.8M vs. 2.6M as against expected at 0.9M.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1467 1422 1377

OUTLOOK

Trend:- Consolidate

Resistance:- 1360

Support:- 1308,1265

Strategy:- Sell on high

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1377 1357 1332 1312 1288

Consolidate

60,1373$

08,1265$

Sell on high

GOLD WEEKLY



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S3 S4

1243 1198

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 32.37 30.73 29.09

OUTLOOK

Trend:- Consolidate

Resistance:- 28.25

Support:- 27.10, 26.40


SILVER

R2 R1 P S1 S2

29.09 28.51 27.45 26.87 25.81

Consolidate

28.25, 29.40$

, 26.40$

Sell on high

SILVER WEEKLY



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S3 S4

24.17 22.53

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 101.8 97.2 92.6

OUTLOOK

Trend:- Consolidate

Resistance:- 93.70

Support:- 87.10, 83.40

Strategy:- Buy on dips

CRUDE

R2 R1 P S1 S2

92.6 91.0 88.0 86.4 83.4

Consolidate

0, 98.90$

, 83.40$

Buy on dips

CRUDE WEEKLY



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S3 S4

78.8 74.2

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 6.20 5.62 5.04

OUTLOOK

Trend:- Consolidate

Resistance:- 4.480

Support:- 4.150, 3.860


NATURALGAS

R2 R1 P S1 S2

5.04 4.68 4.46 4.10 3.88

Consolidate

4.480, 4.990$

, 3.860$

Sell on high

NATURALGAS WEEKLY



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S3 S4

3.31 2.73

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 491.2 471.3 451.5

OUTLOOK

Trend:- Consolidate

Resistance:- 441,4

Support:- 432,421


COPPER

R2 R1 P S1 S2

451.5 443.2 431.6 423.3 411.8

Consolidate

,452

21

Buy on dips

COPPER WEEKLY



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S3 S4

391.9 372.1

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 47.18 46.70 46.22

OUTLOOK

Trend:- Consolidate

Resistance:- 46.25

Support:- 45.40, 44.70


USD/INR

R2 R1 P S1 S2

46.22 46.06 45.74 45.58 45.26

Consolidate

46.25, 47.10

, 44.70

Buy on dips

USD/INR WEEKLY



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S3 S4

44.78 44.30



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