Weekly Newsletter-Commodity

22/02/2010

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Weekly Newsletter
Contents :-
Market Wrap
Technical Analysis
Gold ( Comex)
Silver ( Comex)
Crude ( Nymex)
Naturalgas ( Nymex)
Copper (Mcx)
USD/INR

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MARKET WRAP
Commodities Market rebound from Fed move

Gold prices rose on Friday, reversing early losses

Dollar drops after Fed lifts emergency lending rate

Oil rises toward $80 on refinery strikes

Copper jumps to 3-week peak

Gold dropped in New York for the second straight day as the dollar strengthened,
curbing the metal’s appeal as an alternative investment. The dollar climbed to a nine-
month high against the euro after the Federal Reserve raised the rate it charges banks
for direct loans for the first time in more than three years. Gold rose 24 percent last year
as the central bank kept rates low to pull the U.S. out of the longest recession since
World War II. Physical demand for the precious metal was relatively lacklustre, with
holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR
Gold Trust, unchanged for a second session on Thursday.

Copper prices soared to their highest levels in more than three weeks on Friday, as
improved economic sentiment in the United States and expectations of robust Chinese
demand bolstered the funds' appetite for the industrial metal. Copper prices have more
than doubled in the past year as demand in China surged and the U.S. economy
rebounded from the longest recession. Copper futures for May delivery jumped 7.35
cents, or 2.2 percent, to $3.379 a pound on the New York Mercantile Exchange’s
Comex unit, capping an 8.9 percent gain this week. That’s the biggest weekly advance
since July 17.

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TECHNICAL VIEW
GOLD
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
GOLD 1219 1184 1148 1133 1112 1097 1077 1041 1005

OUTLOOK
Trend:- Consolidate

Resistance:- 1127
27,1142$

Support:- 1102,1071
1071$

Strategy:- Buy on dips

GOLD WEEKLY

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SILVER
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
SILVER 19.20 18.15 17.10 16.68 16.05 15.63 15.00 13.95 12.90

OUTLOOK
Trend:- Consolidate

Resistance:- 16.50,17.25
16.50,17.25$

Support:- 15.80,15.10
15.80,15.10$

Strategy:- Buy on dips

SILVER WEEKLY

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CRUDE
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
CRUDE 96.4 90.2 84.0 81.9 77.8 75.7 71.6 65.4 59.2

OUTLOOK
Trend:- Bullish

Resistance:- 81.70,85.50
81.70,85.50$

Support:- 76.50,73.60$
73.60$

Strategy:- Buy on dips

CRUDE WEEKLY

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NATURALGAS
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
NG 6.83 6.29 5.74 5.39 5.20 4.84 4.65 4.11 3.56

OUTLOOK
Trend:- Bearish

Resistance:- 5.250,
5.250,5.680$

Support:- 4.930,4.330
4.930,4.330$

Strategy:- Sell on higher

NATURALGAS WEEKLY

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COPPER
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
COPPER 426.0 395.1 364.2 353.0 333.3 322.1 302.4 271.5 240.6

OUTLOOK
Trend:- Bullish

Resistance:- 350,363

Support:- 331,16

Strategy:- Buy on dips

COPPER WEEKLY

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USD/INR
WEEKLY PIVOT
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
INR 48.29 47.56 46.83 46.47 46.10 45.74 45.37 44.64 43.91

OUTLOOK
Trend:- Consolidate

Resistance:- 46.45,
46.45,47.05

Support:- 45.75,45.15
45.15

Strategy:- Buy on dips

USD/INR WEEKLY

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