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Weekly Newsletter20/06/2011

Weekly Newsletter-Commodity

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Weekly Newsletter

Contents

Market Wrap

Technical Analysis

Gold ( Comex)

Silver ( Comex)

Crude ( Nymex)

Naturalgas ( Nymex)

Copper (Mcx)

USD/INR



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MARKET WRAP

Silver ends down but recover sharply on Friday

Oil drops, biggest weekly slide since May

Gold posts biggest one-day gain in 3 weeks

Copper ends up despite dim economic prospects

U.S. consumer sentiment worsened this month

Gold accelerated gains after mixed U.S data point to a wobbly economic recovery. U.S.

consumer sentiment worsened more than forecast in June on continued economic

pessimism, but a key measure of future U.S. economic activity rose more than expected in

May to a record high. Gold added $8 to end the week at $1538.61. Silver ended flat and

recovered more than 2% due to technical support to end the week at $385.82.

Copper ended on positive bias and ended the week up at $409.85 though weak global

economic sentiments are mounting on base metals. A softer dollar against a basket of

currencies lent support to base metals prices. Copper ended up as reports of increasing

physical premiums, a decline in copper inventories on the LME was indicating a pickup in

demand. Copper inventories fell by more than 5 % to 470,825 tonnes from last week

Crude oil ended down more than 5% posting its biggest weekly drop since May. Crude oil

lost nearly $5 to end the week down at $93.31. Crude slumped to 4 month low $93 as a

dimmer economic outlook and the European debt crisis. Crude now has a support of its

long standing trendline drawn from Feb 2008 which is around $90, which if broken then

can further see a sell-off. EIA crude inventories came at (–) 3.4m vs. (-) 0.9m w/w.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1625 1593 1562

OUTLOOK

Trend:- Consolidate

Resistance:- 1548

Support:- 1515,14

Strategy:- Buy on dips

ECHNICAL VIEW

GOLD

R2 R1 P S1 S2

1562 1551 1531 1520 1499

Consolidate

48,1576$

478$

Buy on dips

GOLD WEEKLY



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S3 S4

1468 1437

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 41.18 39.29 37.40

OUTLOOK

Trend:- Consolidate

Resistance:- 37.85,

Support:- 35.15,32


SILVER

R2 R1 P S1 S2

37.40 36.62 35.51 34.73 33.62

Consolidate

37.85,39.45$

32.85$

Buy on dips

SILVER WEEKLY



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S3 S4

31.73 29.84

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 119.2 111.1 103.0

OUTLOOK

Trend:- Consolidate

Resistance:- 95.2,98.7

Support:- 91.5,87.2

Strategy:- Sell on high

CRUDE

R2 R1 P S1 S2

103.0 98.0 94.9 89.9 86.8

Consolidate

95.2,98.7$

91.5,87.2$

Sell on high

CRUDE WEEKLY



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S3 S4

78.7 70.7

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.95 5.46 4.97

OUTLOOK

Trend:- Consolidate

Resistance:- 4.540,

Support:- 4.110,3.720


NATURALGAS

R2 R1 P S1 S2

4.97 4.65 4.48 4.16 3.99

Consolidate

4.540,4.950$

3.720$

Sell on high

NATURALGAS WEEKLY



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S3 S4

3.50 3.01

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 448.2 434.2 420.1

OUTLOOK

Trend:- Consolidate

Resistance:- 413,4

Support:- 398,387


COPPER

R2 R1 P S1 S2

420.1 413.3 406.1 399.2 392.0

Consolidate

,422

98,387

Sell on high

COPPER WEEKLY



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S3 S4

378.0 363.9

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 45.94 45.55 45.16

OUTLOOK

Trend:- Consolidate

Resistance:- 45.30

Support:- 44.15,4


USD/INR

R2 R1 P S1 S2

45.16 44.98 44.77 44.59 44.38

Consolidate

0,45.85

43.40

Buy on dips

USD/INR WEEKLY



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S3 S4

43.99 43.60



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