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Weekly commodity news letter by capital height 13 09-10

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  1. 1. Weekly Newsletter Commodity Newsletter-Commodity 13/09/2010
  2. 2. Phone- (0731)4295950 Weekly Newsletter Contents Market Wrap Technical Analysis Gold ( Comex) Silver ( Comex) Crude ( Nymex) Naturalgas ( Nymex) Copper (Comex) USD/INR
  3. 3. Phone- (0731)4295950 MARKET WRAP Dollar's sharp gains on yen pressured gold Gold ends off, hit by firm dollar Copper, aluminum stockpiles continue decline Copper suffering its first weekly decline in four weeks U.S. crude rose 3 percent to hit a four-week high above $76 Gold turned red after five consecutive weekly gains owing to better US economic data and rising global equity markets. Gold has made a double top and resisted at a new two month high of $1262 and a weekly low of $ 1237 to end at $ 1246. The shine of gold as a safe haven became less in the later part of the week as it shred $ 11 on better than expected US jobless claims data at 451K vs. 470K and lower US trade balance at (-)42.88B. Gold consolidated this week as market waits for fresh momentum to climb higher as it is in a tight range of $ 1260 - $ 1240. The world’s largest gold back ETF, New York’s SDPR gold trust reported a drop in its holdings by 0.911 tonnes for second consecutive weeks. Its now at 1,293.531 tonnes. Copper settled at $ 340 ending the three consecutive weeks’ gains. Copper shred $ 8 after resisting at $351.88 and touched weekly low of $ 338. Base metals melt down after as Chinese government clamps down on property speculation, shutters energy- intensive factories and limits lending led by liquidation in Shanghai zinc where open interest fell 10 percent. On an average, metals on LME slumped by 3 percent with rising dollar against euro supported weak trend. The latest data of Chinese industrial production came better than expected at 13.9% vs. 13.1% while its consumer prices rose 3.5%. This economic data may support the falling copper in the coming week.
  4. 4. Phone- (0731)4295950 TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 GOLD 1325 1299 1274 1260 1248 1234 1222 1197 1171 OUTLOOK Trend:- Bullish 64,1290$ Resistance:- 1264 Support:- 1225,1192 ,1192$ Strategy:- Buy on dips GOLD WEEKLY
  5. 5. Phone- (0731)4295950 SILVER WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 SILVER 21.59 21.01 20.43 20.14 19.85 19.56 19.27 18.69 18.11 OUTLOOK Trend:- Bullish Resistance:- 20.15 20.15,20.85$ Support:- 19.45,18.90 18.90$ Strategy:- Buy on dips SILVER WEEKLY
  6. 6. Phone- (0731)4295950 CRUDE WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 CRUDE 87.5 83.4 79.4 78.0 75.3 73.9 71.2 67.1 63.1 OUTLOOK Trend:- Consolidate Resistance:- 77.50, 77.50,82.90$ Support:- 72.30,69.70 69.70$ Strategy:- Buy on dips CRUDE WEEKLY
  7. 7. Phone- (0731)4295950 NATURALGAS WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 NG 4.53 4.30 4.06 3.97 3.83 3.73 3.60 3.36 3.13 OUTLOOK Trend:- Consolidate Resistance:- 4.130 4.130,4.490$ Support:- 3.680,2.970 2.970$ Strategy:- Sell on high NATURALGAS WEEKLY
  8. 8. Phone- (0731)4295950 COPPER WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 COPPER 383.5 370.2 356.8 348.4 343.5 335.1 330.1 316.7 303.4 OUTLOOK Trend:- Consolidate Resistance:- 349,365 Support:- 337,323 3 Strategy:- Buy on dips COPPER WEEKLY
  9. 9. Phone- (0731)4295950 USD/INR WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 INR 48.61 47.89 47.17 46.71 46.45 45.99 45.73 45.01 44.29 OUTLOOK Trend:- Consolidate Resistance:- 47.15 5,48.10 Support:- 45.80,45.10 ,45.10 Strategy:- Sell on high USD/INR WEEKLY
  10. 10. Phone- (0731)4295950 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Capitalheight recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Capitalheight shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of MCX and NCDEX. The stock price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to Capitalheight might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in Commodity and equity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above. Capitalheight does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.