Weekly commodity tips

Weekly Newsletter Commodity
Newsletter-Commodity
16/05/2011

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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 ends week flat, dollar rally triggers selling

Silver finishes week down 1.5 pct

Stocks of copper in LME warehouses rose 800 tonnes

LME stocks of aluminium rose by 32,075 tonnes

Copper prices shed over 5 percent on the week

Gold ended down for second consecutive week shredding nearly $10 as the dollar
strengthened and expectations mounted that U.S inflation eased in April despite being at 2
½ years high. Gold ended down at $1493 taking support of lower trendline drawn from
bottom of Jan 2011. Silver too found support at $32 & bounced back to end at $35.24,
down 2.7%. Though, iShare silver trust added 280 tonnes to 10,534.41 tonnes.

Copper ended down nearly 1% shredding $5 to end the week at $399.75. Copper

recovered nearly 3% from $384.50 due to upbeat economic data like German GDP up at
1.5% and prelim UoM consumer sentiment at 72.4. LME 3-month copper ended down $35
at $8790 a tonne. Though Copper open interest has fallen down nearly 30% from its peak
in Jan. LME monitored copper warehouses rose 800 tonnes to 468,525 tonnes
.

Crude oil ended in green adding nearly $1, making a doji on the weekly chart as short
covering & positive economic data from Germany and France helped crude oil prices find
support while news of Gaddafi president being wounded mounted pressures.
In Short term, Crude prices may see support at $95 & its upside resistance is at $106. EIA
crude oil inventories w/w came at 3.8M vs. 3.4M as against expected at 1.1M.


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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1645 1596 1548 1521 1499 1472 1451 1402 1354

OUTLOOK
Trend:- Consolidate

Resistance:- 1523,1576
23,1576$

Support:- 1461,14
1425$

Strategy:- Buy on dips

GOLD WEEKLY


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SILVER
WEEKLY PIVOT
SILVER 57.20 50.03 42.86 39.09 35.69 31.92 28.52 21.35 14.18

OUTLOOK
Trend:- Consolidate

Resistance:- 36.55
55,39.65$

Support:- 34.05,32.
,32.10$


SILVER WEEKLY


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CRUDE
WEEKLY PIVOT
CRUDE 127.7 118.4 109.1 104.3 99.8 95.0 90.4 81.1 71.8

OUTLOOK
Trend:- Consolidate

Resistance:- 102.1,105.6
102.1,105.6$

Support:- 95.3,92.8
95.3,92.8$


CRUDE WEEKLY


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NATURALGAS
WEEKLY PIVOT
NG 4.76 4.58 4.39 4.32 4.21 4.13 4.02 3.84 3.65

OUTLOOK
Trend:- Consolidate

Resistance:- 4.480,
0,4.710$

Support:- 4.040,3.68
3.680$

Strategy:- Sell on high

NATURALGAS WEEKLY


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COPPER
WEEKLY PIVOT
COPPER 464.6 442.1 419.6 409.7 397.1 387.2 374.6 352.1 329.6

OUTLOOK
Trend:- Consolidate

Resistance:- 407,420

Support:- 385,363
,363

Strategy:- Sell on high

COPPER WEEKLY


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USD/INR
WEEKLY PIVOT
INR 46.32 45.82 45.32 45.09 44.82 44.59 44.32 43.82 43.32

OUTLOOK
Trend:- Consolidate

Resistance:- 45.30,45.80

Support:- 44.50,43.
43.80


USD/INR WEEKLY


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