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Daily Newsletter Newsletter-Commodity 03/12/2010

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MARKET WRAP Gold ticks higher, euro zone fears fade The euro rose on Thursday Shanghai copper seen higher as LME extends gains Crude trades near 25-month high

Oil was steady near 25-month highs on early morning trade of Friday after a slew of upbeat U.S. economic data that boded well for oil consumption by the world's top user, ahead of a jobs report expected to show employment expanded for a second straight month in November. Gold ticked higher on Friday after a volatile trade in the previous session, which saw speculators book profits as the price of the metal failed to breach a key resistance of $1,400 an ounce on waning Europe. Shanghai copper is expected to open stronger on Friday as London futures extended gains to a third day in the previous session to come within striking distance of a record hit last month.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri 12:30am Dec 3 7:00pm

USD

FOMC Member Duke Speaks

USD

Non-Farm Employment Change

143K

151K

7:00pm

USD

Unemployment Rate

9.6%

9.6%

7:00pm

USD

Average Hourly Earnings m/m

0.2%

0.2%

8:30pm

USD

ISM Non-Manufacturing PMI

54.7

54.3

8:30pm

USD

Factory Orders m/m

-0.7%

2.1%

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TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Bullish • Buy on dips

SILVER(MAR MAR) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -2090 • R1 -20755

Resistance

• R2 - 44750 • R1 - 43850

support

• S1 -20470 • S2 -20250

support

• S1 - 42850 • S2 - 41750

COPPER(FEB) Trend Strategy

• Consolidate • Buy on dips

CRUDE(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 409 • R1 - 401

Resistance

• R2 - 4050 • R1 - 3990

support

• S1 - 391 • S2 - 383

support

• S1 - 3910 • S2 - 3830

NATURALGAS(DEC) Trend Strategy

• Consolidate • Sell on high

LEAD(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 207 •R1 - 198

Resistance

• R2 - 110.5 • R1 - 108.1

support

•S1 - 189 •S2 - 181

support

• S1 - 105.3 •S2 - 102.5

ZINC(DEC) Trend Strategy

• Consolidate • Sell on high

NICKEL(DEC) NICKEL(DEC Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 105.8 •R1 - 102.5

Resistance

•R2 - 1107 •R1 - 1083

support

•S1 - 99.7 •S2 - 96.8

support

•S1 - 1053 •S2 - 1025

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ALUMINIUM(DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 109.5 •R1 - 107.2

support

•S1 - 104.5 •S2 - 101.7

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