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Weekly Newsletter22/11/2010

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

Gold ended down for 2nd consecutive week

Silver rebounded and ended up at $27.27

Crude oil falls biggest since august, down 3.97%

Copper ended down with moderate loss

Weekly commodities Open interest down most since 2008

Gold ended down for second consecutive week owing to global economic instability

though recovered its losses later in the week as worries over Irish debt contagion eased

down on aid hopes, still, China’s monetary maneuvers kept it under pressure.

Gold ended the week at $1353.35 and shredded almost $17. The precious metal

touched the weekly low of $1329.50 due to sell-off in commodities owing to China’s

imminent rate hike that happened later in the week. Also, another rate hike may cause

more downward pressure in commodities though most has been priced in and volatility

in gold will sustain. World’s largest gold-backed ETF, New York’s SPDR said its

holdings slipped to a one-month low of 1,286.299 tonnes.

Copper saw downside pressure this week due to sell-off in commodities as it touched

the weekly low of $360.30 but recovered almost $22 to end the week at $382.73.

The pressure was due to rate hike of China to control its inflation which was priced by

investors. Copper recovered on hopes that recent rate hike will not suppress the

demand and it will remain as expected complimented by positive US economic data and

concerns over Euro zone sovereign debt crisis eased on aid hopes. The Philly fed

manufacturing index came better than expected at 22.5 vs. 1.0 as against expected 5.1.

The ZEW economic sentiment too came up at 13.8 vs. 1.8 & GBP Core CPI y/y came

up at 1.1% vs. 1.0%.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1495 1448 1401

OUTLOOK

Trend:- Consolidate

Resistance:- $1377

Support:- $1338,131

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1401 1377 1354 1330 1307

Consolidate

77,1401

1317

Buy on dips

GOLD WEEKLY

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S3 S4

1260 1213

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 33.77 31.36 28.95

OUTLOOK

Trend:- Consolidate

Resistance:- $28.1

Support:- $26.35,

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

28.95 28.11 26.54 25.70 24.13

Consolidate

28.15,29.34

,24.95

Buy on dips

SILVER WEEKLY

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S3 S4

21.72 19.31

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CRUDE

WEEKLY PIVOT

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

CRUDE 98.1 93. 1 87.9 84.9 82.8 79.8 77.7 72.6 67.5

OUTLOOK

Trend:- Consolidate

Resistance:- $88.50,94.60

Support:- $80.01,75.5

Strategy:- Sell on highs

CRUDE WEEKLY

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NATURALGAS

WEEKLY PIVOT

SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4

NG 5.39 4.93 4.47 4.31 4.01 3.85 3.85 3.55 3.09

OUTLOOK

Trend:- Consolidate

Resistance:- $4.270,4.510

Support:- 3.720,3.250$

Strategy:- Buy on dips

NATURALGAS WEEKLY

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 482.9 448.4 413.8

OUTLOOK

Trend:- Consolidate

Resistance:- $398

Support:- $365,35

Strategy:- Buy on dips

COPPER

R2 R1 P S1 S2

413.8 398.2 379.3 363.7 344.7

Consolidate

8,414

,354

Buy on dips

COPPER WEEKLY

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S3 S4

310.2 275.6

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 48.08 47.10 46.12

OUTLOOK

Trend:- Consolidate

Resistance:- 45.80

Support:- 44.70,4

Strategy:- Buy on dips

USD/INR

R2 R1 P S1 S2

46.12 45.68 45.14 44.70 44.16

Consolidate

80,46.20

44.15

Buy on dips

USD/INR WEEKLY

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S3 S4

43.18 42.20

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