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Daily Newsletter Newsletter-Commodity 04/02/2011

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MARKET WRAP Copper at record $10,000 on supply concerns U.S. weekly jobless claims drop more than expected Gold falls for second day as dollar strengthens U.S. dollar extended gains against the euro Crude oil trading above 90$ Zinc hits multi week high Natural gas galls sharply after inventory data

Copper struck a record high at $10,000 on Thursday while tin also hit all-time peaks, on supply deficit concerns and as recent economic data from top consumers China and the United States increased demand prospects. Gold recovered sharply on second day after U.S. data showed a healthy pace of growth in the U.S. services sector, having earlier risen on the back of more muted expectations for euro zone rate rises.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri Feb 4

6:30am

USD

7:00pm

USD

FOMC Member Kocherlakota Speaks Non-Farm Employment Change

138K

103K

7:00pm

USD

Unemployment Rate

9.5%

9.4%

7:00pm

USD

Average Hourly Earnings m/m

0.2%

0.1%

11:30pm

USD

FOMC Member Fisher Speaks

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TECHNICAL VIEW GOLD(APR) Trend Strategy

• Consolidate • Buy on dips

SILVER(MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -20530 • R1 -20380

Resistance

• R2 - 45500 • R1 - 44450

support

• S1 -20120 • S2 -19930

support

• S1 - 43400 • S2 - 42650

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 - 114.4

Resistance

•R2 - 1335 •R1 - 1293

support

•S1 - 111.2 •S2 - 108.8

support

•S1 - 1258 •S2 - 1227

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ALUMINIUM(FEB) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 220.7 •R1 - 116.5

support

•S1 - 114.1 •S2 - 111.6

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