Weekly bullion news letter by capital height 06 09-10


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Weekly bullion news letter by capital height 06 09-10

  1. 1. Weekly Newsletter Commodity Newsletter-Commodity 06/09/2010 www.capitalheight.com
  2. 2. info@capitalheight.com Phone- (0731)4295950 Weekly Newsletter Contents Market Wrap Technical Analysis Gold ( Comex) Silver ( Comex) Crude ( Nymex) Naturalgas ( Nymex) Copper (Comex) USD/INR www.capitalheight.com
  3. 3. info@capitalheight.com Phone- (0731)4295950 MARKET WRAP Silver rallies more than 1 pct to near 2-1/2 year high U.S dollar fell against the euro Gold cuts loss after weak ISM data Copper ends off 4-month high on weak services data US payrolls fall by less than expected Gold gained marginally this week after better than expected US economic data posted in last two weeks. Gold is at $1246.60 and managed to continue its uptrend for fifth straight week. It gained $9 after resisting $1254 and touched weekly low of $1231. Gold shred most of its early week gains as US jobless claims came down at 472K, Non-farm payrolls down at (-) 54K and Pending home sales jumped up to 5.20%. The RSI for gold is at 66 which signal near to overbought market & gold has turned red in its monthly chart. The holdings of the worlds’ largest gold backed exchange traded fund, New York’s SPDR gold trust fell for the first time in a week with the drop of 9.12 tonnes straight marking the largest one-day decline since late July. Copper is up at $ 349 gaining $10 and accumulated 2% gains on weekly basis. It touched weekly high of $ 352 and took support of $334. Copper ended positive on stronger economic data as pending home sales is up at 5.20% & lower jobless claims complimented the uptrend. The Metal was higher as the dollar fell against the euro after a successful Spanish govt. debt auction and the ECB keeping the key rates unchanged. The fundamental reason for bullish copper is strong rebound seen in Asian economy, specifically biggest consumer such as China posting better Chinese manufacturing data & India’s Q1 GDP up at 8.8% supported by growth in manufacturing sector at 12.4%. www.capitalheight.com
  4. 4. info@capitalheight.com Phone- (0731)4295950 TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 GOLD 1313 1290 1267 1257 1244 1234 1221 1198 1176 OUTLOOK Trend:- Bullish 53,1290$ Resistance:- 1253 Support:- 1227,1192 ,1192$ Strategy:- Buy on dips GOLD WEEKLY www.capitalheight.com
  5. 5. info@capitalheight.com Phone- (0731)4295950 SILVER WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 SILVER 22.88 21.76 20.64 20.22 19.52 19.10 18.40 17.28 16.16 OUTLOOK Trend:- Bullish Resistance:- 19.94 94,20.85$ Support:- 19.45,18.90 18.90$ Strategy:- Buy on dips SILVER WEEKLY www.capitalheight.com
  6. 6. info@capitalheight.com Phone- (0731)4295950 CRUDE WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 CRUDE 85.8 81.8 77.8 76.0 73.8 72.0 69.8 65.8 61.8 OUTLOOK Trend:- Consolidate Resistance:- 77.50, 77.50,82.90$ Support:- 72.10,69.70 69.70$ Strategy:- Buy on dips CRUDE WEEKLY www.capitalheight.com
  7. 7. info@capitalheight.com Phone- (0731)4295950 NATURALGAS WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 NG 4.59 4.34 4.09 4.00 3.84 3.75 3.59 3.34 3.09 OUTLOOK Trend:- Bearish Resistance:- 4.130 4.130,4.490$ Support:- 3.520,2.970 2.970$ Strategy:- Sell on high NATURALGAS WEEKLY www.capitalheight.com
  8. 8. info@capitalheight.com Phone- (0731)4295950 COPPER WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 COPPER 400.3 382.0 363.7 356.5 345.4 338.3 327.1 308.7 290.4 OUTLOOK Trend:- Bullish Resistance:- 353,367 Support:- 339,326 6 Strategy:- Buy on dips COPPER WEEKLY www.capitalheight.com
  9. 9. info@capitalheight.com Phone- (0731)4295950 USD/INR WEEKLY PIVOT SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4 INR 48.78 48.07 47.36 46.91 46.65 46.20 45.94 45.23 44.52 OUTLOOK Trend:- Consolidate Resistance:- 47.15 5,48.10 Support:- 45.80,45.10 ,45.10 Strategy:- Buy on dips USD/INR WEEKLY www.capitalheight.com
  10. 10. info@capitalheight.com 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. www.capitalheight.com