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Daily Newsletter Newsletter-Commodity 03/02/2011

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MARKET WRAP Gold prices eased on Wednesday after well-received U.S. economic data Copper rushed towards a record high on Wednesday euro retreated from a 2-1/2-month high against the dollar US ADP jobs data higher than expectations

Gold prices eased on Wednesday after well-received U.S. economic data and a spate of upbeat corporate earnings deflected interest away from bullion on to higher-risk, higher-yielding assets. Copper rushed towards a record high on Wednesday, nearing $10,000 a tonne before losing momentum, but solid manufacturing data that pointed to higher demand for the industrial metal suggested gains further ahead. The euro retreated from a 2-1/2-month high against the dollar on Wednesday as signs of dissent over a euro zone rescue plan and unrest in Egypt caused some investors to take profits on its recent rise.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Thu Feb 3

7:00pm

USD

Unemployment Claims

420K

454K

7:00pm

USD

Prelim Nonfarm Productivity q/q

2.1%

2.3%

7:00pm

USD

Prelim Unit Labor Costs q/q

0.4%

-0.1%

8:30pm

USD

ISM Non-Manufacturing PMI

57.2

57.1

8:30pm

USD

Factory Orders m/m

-0.2%

0.7%

9:00pm

USD

Natural Gas Storage

-185B

-174B

11:30pm

USD

Fed Chairman Bernanke Speaks

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TECHNICAL VIEW GOLD(APR) Trend Strategy

• Consolidate • Sell on high

SILVER(MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -20430 • R1 -20180

Resistance

• R2 - 44700 • R1 - 43950

support

• S1 -19920 • S2 -19730

support

• S1 - 42800 • S2 - 42080

COPPER(FEB) Trend Strategy

• Bullish • Buy on dips

CRUDE(FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 470 • R1 - 463

Resistance

• R2 - 4330 • R1 - 4245

support

• S1 - 449 • S2 - 441

support

• S1 - 4150 • S2 - 4070

NATURALGAS(FEB) Trend Strategy

• Consolidate • Sell on high

LEAD(FEB) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 215 •R1 - 206

Resistance

• R2 - 121.5 • R1 - 118.4

support

•S1 - 197 •S2 - 190

support

• S1 - 115.3 •S2 - 112.5

ZINC(FEB) Trend Strategy

• Consolidate • Buy on dips

NICKEL(FEB) NICKEL(FEB Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 116.5 •R1 - 114.3

Resistance

•R2 - 1335 •R1 - 1293

support

•S1 - 110.2 •S2 - 107.8

support

•S1 - 1258 •S2 - 1227

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ALUMINIUM(FEB) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 220.7 •R1 - 117.5

support

•S1 - 115.1 •S2 - 112.6

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