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Weekly Newsletter09/05/2011

Weekly Newsletter-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

US jobless rate rose to 9.0 percent.

U.S. job creation at fastest pace in 5 years

COMEX copper slide below 200-day MA

Silver slide almost 30% from high

Gold lost 5 percent, the worst weekly performance

Gold ended down nearly 4% posting its biggest sell off in week in 2011 tracking crude oil

and silver fall though gold losses pared post higher U.S jobless claims and unemployment

rate. Gold ended down at $1490.65 after making weekly low of $1462.05. Silver posted

biggest weekly sell off in its history ending down nearly 9% at $35.27 while iShare silver

trust sliced to 10,253.75 tonnes vs. 11,021.34 tonnes.

Copper ended down nearly 4% on weak technical chart and declining open interest in

May though better U.S private jobs creation up at 5 years high at 244K pared copper

losses. Copper ended down below its 200 DMA and any further closing below could lead

to further downtrend in Copper. 3-month LME copper ended down at $8825 a tonne.

Though, LME warehouses saw net outflows in Copper, Aluminum and Nickel.

Crude oil ended down posting its biggest weekly sell off as economic recovery

uncertainty raises concerns over its demand in near term. Crude oil ended down more

than 13% and shredded more than $15 to end at $97.88. Crude oil may see more

downside as net short positions created are enough to offset long positions & oil prices

may find support at $90. EIA crude oil inventories came down at 3.4M vs. 6.2M w/w.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1850 1737 1624

OUTLOOK

Trend:- Consolidate

Resistance:- 1523,1576

Support:- 1447,14

Strategy:- Buy on dips

ECHNICAL VIEW

GOLD

R2 R1 P S1 S2

1624 1559 1511 1446 1397

Consolidate

23,1576$

1425$

Buy on dips

GOLD WEEKLY



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S3 S4

1284 1171

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 83.88 68.88 53.88

OUTLOOK

Trend:- Consolidate

Resistance:- 36.80,39.65

Support:- 34.30,32.25

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

53.88 44.64 38.88 29.64 23.88

Consolidate

36.80,39.65$

34.30,32.25$

Buy on dips

SILVER WEEKLY



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S3 S4

8.88 -6.12

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 163.0 142.8 122.7

OUTLOOK

Trend:- Consolidate

Resistance:- 117.3

Support:- 105.6,111.8

Strategy:- Sell on high

CRUDE

R2 R1 P S1 S2

122.7 110.4 102.5 90.2 82.3

Consolidate

117.3,122$

105.6,111.8$

Sell on high

CRUDE WEEKLY



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S3 S4

62.2 42.0

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.96 5.44 4.91

OUTLOOK

Trend:- Consolidate

Resistance:- 4.480,

Support:- 4.040,3


NATURALGAS

R2 R1 P S1 S2

4.91 4.58 4.39 4.06 3.86

Consolidate

0,4.710$

3.680$

Sell on high

NATURALGAS WEEKLY



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S3 S4

3.34 2.81

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 506.0 472.2 438.5

OUTLOOK

Trend:- Consolidate

Resistance:- 408,431

Support:- 377,363


COPPER

R2 R1 P S1 S2

438.5 417.3 404.7 383.6 371.0

Consolidate

408,431

377,363

Sell on high

COPPER WEEKLY



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S3 S4

337.2 303.5

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 46.78 46.05 45.32

OUTLOOK

Trend:- Consolidate

Resistance:- 45.25

Support:- 44.10,43.


USD/INR

R2 R1 P S1 S2

45.32 45.02 44.59 44.29 43.86

Consolidate

5.25,45.75

43.80

Sell on high

USD/INR WEEKLY



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S3 S4

43.13 42.40



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