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Weekly Newsletter Newsletter-Commodity Commodity 11/10/2010

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Weekly Newsletter Contents Market Wrap Technical Analysis Gold ( Comex) Silver ( Comex) Crude ( Nymex) Naturalgas ( Nymex) Copper (Comex) USD/INR

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MARKET WRAP Silver was up 5 percent, outperforming gold's 2 percent rise weekly Dollar fell 7.5 percent last month versus the euro Oil prices rose on Friday, posting a third straight weekly rise U.S. nonfarm payrolls fell 95,000 in September Copper hits new multi week high

Gold gained for fourth week consecutively and touched an all time high of $ 1364.82 after breaching $ 1349.70. The yellow metal gained $ 45 for the week to settle at $ 1344.85 capped by profit booking at all time highs due to surprisingly upbeat unemployment claims at 445k and expectations that Fed may opt for more QE.It touched a weekly low of $ 1312.10. Mild consolidation is seen in gold at upper levels while its trend is still bullish due to uncertain economic conditions and low interest rates and technically, gold is ranged $ 1325 - $ 1350. Though, RSI at 76.27 depicts gold in an overbought zone. The holdings of SPDR gold trust shred more than one percent to 1,288.542 tonnes vs. 1304.776 tonnes.

Copper accumulated 2.02% and touched an all time high of $ 379.13 to end the week at $ 377.23. Copper is ranged in $ 365 - $ 376 and touched the weekly low of $ 363. Copper gained as investors continued to switch from dollars to metals amid fears of further quantitative easing and concerns about inflation. Russia exported 314,000 metric tons of copper till Aug, up 0.7%, positive US ISM manufacturing data at 53.2 and German industrial production up at 1.7% vs. 0.1% were key factors for uptrend in copper. LME monitored warehouse stocks edged up 25 tonnes to 374,125 tonnes while COMEX copper warehouse stocks dropped 300 short tons to 83,887 as of Tuesday.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1500

R3 1447

R2 1394

R1 1370

P 1341

S1 1317

S2 1288

S3 1235

S4 1182

OUTLOOK Trend:- Bullish 1375,1420$ Resistance:- 1375 Support:- 1307,1283 1283$ Strategy:- Buy on dips GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 27.97

R3 26.25

R2 24.53

R1 23.86

P 22.81

S1 22.14

S2 21.09

S3 19.37

S4 17.65

OUTLOOK Trend:- Bullish Resistance:- 23.85,25.40 23.85,25.40$ Support:- 22.35,21.6 21.60$ Strategy:- Buy on dips SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 94.9

R3 90.8

R2 86.6

R1 84.7

P 82.5

S1 80.6

S2 78.4

S3 74.3

S4 70.1

OUTLOOK Trend:- Consolidate Resistance:- 86.50,92.90 86.50,92.90$ Support:- 79.90,75 79.90,75.50$ Strategy:- Buy on dips CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 4.61

R3 4.31

R2 4.00

R1 3.82

P 3.70

S1 3.51

S2 3.39

S3 3.09

S4 2.78

OUTLOOK Trend:- Bearish Resistance:- 3.690, 3.690,4.140$ Support:- 3.425,2.970 2.970$ Strategy:- Sell on high NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 418.3

R3 402.9

R2 387.5

R1 380.3

P 373.0

S1 364.9

S2 356.6

S3 341.2

S4 325.7

OUTLOOK Trend:- Bullish Resistance:- 387,403 Support:- 369,356 69,356 Strategy:- Buy on dips COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 46.54

R3 45.83

R2 45.12

R1 44.76

P 44.41

S1 44.05

S2 43.70

S3 42.99

S4 42.28

OUTLOOK Trend:- Bearish Resistance:- 44.85, 44.85,45.70 Support:- 44.10,43.2 10,43.20 Strategy:- Sell on high USD/INR WEEKLY

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