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Weekly Newsletter Newsletter-Commodity Commodity 21/02/2011

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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 Oil slips in volatile trade eyeing Mideast Silver rose to a 31-year high on Friday Gold hit its highest in five weeks on Friday U.S. market holiday on Monday Copper up, discounts China tightening move

Gold ended up for third consecutive week posting its best weekly gain since Dec adding $30 to end near its strongest level at $1387.64. The rise in Gold prices was due EU debt jitters, and Middle East tensions. Gold spiked this week after data showed U.S. core consumer prices rose 0.2 percent in Jan, the fastest pace in more than a year, indicating a long period of slowing inflation is over. Also, Chinese inflation had also boosted gold.

Silver hits a new 31 year high of $32.88 gaining nearly 9% this week & 14% this month to end at $32.54. Silver rose as investors took advantage of its percentage fall and turn to it for a hedge as precious metals demand is fuelled due to unrest in ME region. The Gold Silver ratio dropped to its lowest level in 13 years at around 43.5. While holdings of the world’s largest silver backed ETF, iShares silver trust is up 0.26% to 10,438.56 tonnes.

Copper ended down for 2nd consecutive week at $446.95 after making an all time high of $464.10 as investors discounts China’s recent rate hike. LME 3-month Copper ended at $9860 a tonne, up $58. Though copper ended in its strong territory as investors bet on long term bullish trend as iron ore grades decline, new mines remain scarce and top buyer China grows. LME copper stock is at 6-month high of 407, 925 tonnes adding 725 tonnes.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1491

R3 1453

R2 1415

R1 1401

P 1378

S1 1363

S2 1340

S3 1302

S4 1264

OUTLOOK Trend:- Consolidate Resistance:- 13988,1422$ Support:- 1371,13 1338$ Strategy:- Buy on dips GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 40.97

R3 37.89

R2 34.81

R1 33.68

P 31.73

S1 30.60

S2 28.65

S3 25.57

S4 22.49

OUTLOOK Trend:- Bullish Resistance:- 33.70,34.80 33.70,34.80$ Support:- 31.70,30.90 31.70,30.90$ Strategy:- Buy on dips SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 98.0

R3 94.0

R2 89.9

R1 88.0

P 85.9

S1 84.0

S2 81.9

S3 77.9

S4 73.9

OUTLOOK Trend:- Consolidate Resistance:- 87.30, 87.30,92.20$ Support:- 83.70,80.20 ,80.20$ Strategy:- Sell on high CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 4.39

R3 4.22

R2 4.05

R1 3.95

P 3.88

S1 3.78

S2 3.71

S3 3.54

S4 3.37

OUTLOOK Trend:- Consolidate Resistance:- 3.990, 3.990,4.290$ Support:- 3.770,3.200 3.770,3.200$ Strategy:- Sell on high NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 533.6

R3 505.4

R2 477.2

R1 462.1

P 449.0

S1 433.9

S2 420.8

S3 392.6

S4 364.4

OUTLOOK Trend:- Consolidate Resistance:- 455,469 469 Support:- 434,4211 Strategy:- Buy on dips COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 46.71

R3 46.23

R2 45.75

R1 45.43

P 45.27

S1 44.95

S2 44.79

S3 44.31

S4 43.83

OUTLOOK Trend:- Consolidate Resistance:- 45.75,46.25 5,46.25 Support:- 44.75,44.10 5,44.10 Strategy:- Sell on high USD/INR WEEKLY

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Weekly MCX Tips By www.capitalheight.com 21-02-2011 to 25-02-2011