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Weekly Newsletter01/11/2010

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 rises 1 pct as dollar slumps ahead of Fed

Fed Reserve policy 2-day meeting Nov 2-3

Oil slides on tepid growth, awaits Fed meeting

Copper ends lower, hits 3-week low

U.S. economy grew at a 2.0 percent annual rate

Gold recovered this week and rallied post slack US GDP data and boosted by

expected Fed reserve monetary stimulus that may be larger than expected that will

spark another selling pressure in dollar resulting an uptrend in gold. The rally is

complimented by festival season in India that may raise gold sales up by 40%.

Gold gained $27 to settle at $1359.15 and touched weekly low of $1318.88. The next

resistance for gold is seen at $1374. World gold council report has showed a buying of

28.30 tonnes in physical market via gold backed exchange traded funds bringing total

holdings to a new record high of 2070.10 metric tonnes, worth $ 87 billion.

Copper ended down this week after resisting its long standing January trendline and

touched an all time high of $388.63. Copper shred $8 to settle at $374.25 and touched

weekly low of $370.02. Copper shredded most of its gains later in the week on profit

booking post US GDP data at 2.0% and a weaker dollar due to expected fed reserve

monetary easing. The supply side concerns still looms on this metal as world’s no.3

copper mine in Chile is seeing a potential strike. The LME monitored copper stocks fell

by 575 tonnes to 368,025 tonnes and COMEX copper fell by 163 tonnes to 75,459

tonnes.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1467 1426 1386

OUTLOOK

Trend:- Bullish

Resistance:- 1372

Support:- 1343,13

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1386 1372 1346 1332 1305

72,1395$

1311$

Buy on dips

GOLD WEEKLY

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S3 S4

1265 1225

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 28.92 27.34 25.76

OUTLOOK

Trend:- Bullish

Resistance:- 25.25

Support:- 24.20,22.60

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

25.76 25.24 24.18 23.66 22.60

25.25,26.55$

22.60$

Buy on dips

SILVER WEEKLY

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S3 S4

21.02 19.44

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 89.9 87.2 84.4

OUTLOOK

Trend:- Consolidate

Resistance:- 84.30

Support:- 79.80,75

Strategy:- Buy on dips

CRUDE

R2 R1 P S1 S2

84.4 82.9 81.7 80.2 79.0

Consolidate

0,88.90$

0,75.50$

Buy on dips

CRUDE WEEKLY

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S3 S4

76.3 73.5

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 6.17 5.37 4.57

OUTLOOK

Trend:- Consolidate

Resistance:- 4.140,4.480

Support:- 3.760,3.25

Strategy:- Buy on dips

NATURALGAS

R2 R1 P S1 S2

4.57 4.30 3.78 3.51 2.98

Consolidate

4.140,4.480$

3.250$

Buy on dips

NATURALGAS WEEKLY

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S3 S4

2.18 1.38

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 433.4 414.9 396.2

OUTLOOK

Trend:- Consolidate

Resistance:- 387,403

Support:- 371,354

Strategy:- Buy on dips

COPPER

R2 R1 P S1 S2

396.2 385.2 377.6 366.6 359.0

Consolidate

387,403

71,354

Buy on dips

COPPER WEEKLY

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S3 S4

340.4 321.8

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 45.57 45.17 44.17

OUTLOOK

Trend:- Consolidate

Resistance:- 44.85,

Support:- 44.05,43.25

Strategy:- Buy on dips

USD/INR

R2 R1 P S1 S2

44.17 44.54 44.37 44.14 43.97

Consolidate

44.85,45.30

44.05,43.25

Buy on dips

USD/INR WEEKLY

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S3 S4

43.57 43.17

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