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Daily Newsletter Newsletter-Commodity 03/06/2011

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MARKET WRAP Gold eased but held in sight of four-week highs on Thursday Copper falls to week low Copper inventories hit one-year high U.S. unemployment claims fell last week Oil slips from earlier gain Gold eased but held in sight of four-week highs on Thursday, supported by concern about the outlook for U.S. growth and the European debt crisis. The dollar has fallen to its lowest in a month against a basket of currencies. Copper fell to its lowest in a week on Thursday after U.S. weekly jobless claims fell less than expected, heightening concerns about the world's biggest economy and outweighing a normally supportive weak dollar. Crude oil prices slipped in choppy trading on Thursday, reversing earlier gains, due to an unexpected jump in crude oil inventories in the United States.

ECONOMIC CALENDAR Date

Time

Currency

Economy Data

Forecast Previous

Fri Jun 3

1:30pm

EUR

Final Services PMI

55.4

55.4

6:00pm

USD

Non-Farm Employment Change

194K

244K

6:00pm

USD

Unemployment Rate

9.0%

9.0%

6:00pm

USD

Average Hourly Earnings m/m

0.2%

0.1%

7:30pm

USD

ISM Non-Manufacturing PMI

53.7

52.8

10:00pm

USD

FOMC Member Tarullo Speaks

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TECHNICAL VIEW GOLD(AUG) Trend Strategy

• Consolidate • Buy on dips

SILVER(JULY JULY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -22850 • R1 -22640

Resistance

• R2 - 56600 • R1 - 55250

support

• S1 - 22410 • S2 - 22150

support

• S1 - 53350 • S2 - 52300

COPPER(JUNE) Trend Strategy

• Consolidate • Buy on dips

CRUDE(JUNE)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 421 • R1 - 411

Resistance

• R2 - 4590 • R1 - 4515

support

• S1 - 398 • S2 - 391

support

• S1 - 4410 • S2 - 4330

NATURALGAS(JUNE) Trend Strategy

• Consolidate • Buy on dips

LEAD(JUNE) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 225 •R1 - 219

Resistance

• R2 - 114.5 • R1 - 111.3

support

•S1 - 207 •S2 - 198

support

• S1 - 107.5 •S2 - 104.8

ZINC(JUNE) Trend Strategy

• Consolidate • Buy on dips

NICKEL(JUNE JUNE) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 103.5 •R1 - 101.3

Resistance

•R2 - 1072 •R1 - 1047

support

•S1 - 98.7 •S2 - 95.5

support

•S1 - 1014 •S2 - 983

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ALUMINIUM(JUNE) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 120.5 •R1 - 118.9

support

•S1 - 116.7 •S2 - 113.5

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