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Daily Newsletter Newsletter-Commodity 10/05/2011

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MARKET WRAP Gold rises, silver climbs as dollar retreats Copper ended higher on Monday Dollar gains ground against euro Nickel stocks fell to their lowest since mid-August Copper and lead inventories in LME warehouses rose Oil rallied more than 4 percent on Monday

Gold climbed back above $1,500 an ounce on Monday and silver rallied more than 6 percent as a retreating dollar and rising concerns of euro zone debt helped the metals recover some ground after last week's hefty losses. Copper ended higher on Monday on a relief rally following steep losses last week, but a downgrade of Greece's credit rating added to global slowdown fears and capped the metal's advance. Oil rallied more than 4 percent on Monday, rebounding as last week's record double-digit losses attracted bargain hunters.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Tue May 10

12:15pm

EUR

French Industrial Production m/m

0.5%

0.4%

1:30pm

EUR

Italian Industrial Production m/m

0.6%

1.4%

6:00pm

USD

Import Prices m/m

1.8%

2.7%

7:00pm

USD

FOMC Member Duke Speaks

7:30pm

USD

IBD/TIPP Economic Optimism

41.5

40.8

7:30pm

USD

Wholesale Inventories m/m

1.0%

1.0%

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TECHNICAL VIEW GOLD(JUNE) Trend Strategy

• Consolidate • Buy on dips

SILVER(JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -22340 • R1 -22180

Resistance

• R2 - 59500 • R1 - 57850

support

• S1 -21880 • S2 -21650

support

• S1 - 55850 • S2 - 54500

COPPER(JUNE) Trend Strategy

• Consolidate • Sell on high

CRUDE(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 416 • R1 - 407

Resistance

• R2 - 4685 • R1 - 4590

support

• S1 - 393 • S2 - 384

support

• S1 - 4465 • S2 - 4380

NATURALGAS(MAY)) Trend Strategy

• Consolidate • Sell on high

LEAD(MAY MAY) Trend Strategy

• Bearish • Sell on high

Resistance

•R2 - 206 •R1 - 197

Resistance

• R2 - 109.5 • R1 - 106.3

support

•S1 - 183 •S2 - 175

support

• S1 - 101.8 •S2 - 97.5

ZINC(MAY) Trend Strategy

• Bearish • Sell on high

NICKEL(MAY MAY) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 99.5 •R1 - 97.9

Resistance

•R2 - 1164 •R1 - 1125

support

•S1 - 94.5 •S2 - 91.8

support

•S1 - 1093 •S2 - 1058

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ALUMINIUM(MAY) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 120.5 •R1 - 117.7

support

•S1 - 115.2 •S2 - 112.5

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