Weekly commodity newsletter by capital height 21-03-11 to 25-03-11

Weekly Newsletter Commodity
Newsletter-Commodity
21/03/2011

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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
Oil falls as Libya calls truce, but fears remain

Gold up as Libya ceasefire fails to calm tension

Copper ends down on pre-weekend risk reduction

Base metals recovers sharply

Natural gas gained after consolidation

Gold ended down marginally for second consecutive week shredding nearly $5 to end at
$1418.33s. Gold recovered nearly 2% from its fresh 1 month low of $1380.70 due to sharp
fall in Dollar & ceasefire in Libya is questioned, also, G7 to intervene on rising Yen.
However, weaker volume suggested that the Gold can lack to rise further. Support for gold
is seen at $1380 & resistance at $1445/ounce. Its 14 day RSI stands at 62.89.

Copper rebounded from last week’s sell off adding $21 to end the week in its comfort
zone at $434.80. Copper ended up despite China’s recent rate hike on the back of dearth
of supply, buoyant demand, low stock and surging costs. 3 month LME copper ended at
$9500/tonne. LME monitored copper warehouses added 3775 tonnes to 429,650 tonnes
vs. 425.875 tonnes. They are up more than 20 % Since December 9.

Crude oil ended positive and ended the week well above $100 at $102.45, adding nearly
$3. Crude oil made a weekly high of $104.54 as its gains were capped by recent ceasefire
in Libya & U.S president’s warning of military action though uncertainty about its stability
remains. Brent crude added nearly 1% to end the week at $113.93.
EIA crude oil inventories w/w came down at 1.7m vs. 1.8m as against expected at 2.5m.


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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1563 1512 1462 1441 1411 1390 1360 1309 1258

OUTLOOK
Trend:- Consolidate

Resistance:- 1441
1,1485$

Support:- 1403,1378
1378$

Strategy:- Buy on dips

GOLD WEEKLY


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SILVER
WEEKLY PIVOT
SILVER 43.89 40.96 38.03 36.65 35.10 33.72 32.17 29.24 26.31

OUTLOOK
Trend:- Bullish

Resistance:- 36.60
0,38.25$

Support:- 34.30,33.55
34.30,33.55$


SILVER WEEKLY


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CRUDE
WEEKLY PIVOT
CRUDE 125.9 117.6 109.2 105.7 100.9 97.4 92.6 84.3 76.0

OUTLOOK
Trend:- Consolidate

Resistance:- 104.1
104.1,111.8$

Support:- 99.1,96.0
96.0$


CRUDE WEEKLY


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NATURALGAS
WEEKLY PIVOT
NG 5.24 4.84 4.44 4.30 4.04 3.90 3.64 3.24 2.84

OUTLOOK
Trend:- Consolidate

Resistance:- 4.255,4.830
4.255,4.830$

Support:- 3.770,3.2
0,3.210$

Strategy:- Sell on high

NATURALGAS WEEKLY


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COPPER
WEEKLY PIVOT
COPPER 517.2 486.8 456.3 445.6 435.9 415.1 395.4 365.0 334.5

OUTLOOK
Trend:- Consolidate

Resistance:- 443,463
463

Support:- 422,407
22,407


COPPER WEEKLY


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USD/INR
WEEKLY PIVOT
INR 46.31 45.91 45.51 45.25 45.11 44.85 44.71 44.31 43.91

OUTLOOK
Trend:- Consolidate

Resistance:- 45.35,46.25
5,46.25

Support:- 44.60,44.10
,44.10


USD/INR WEEKLY


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Weekly commodity newsletter by capital height 21-03-11 to 25-03-11

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