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Weekly Newsletter Newsletter-Commodity Commodity 29/11/2010

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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 Gold ended up snapping 2 weeks sell off Thin volume trading concerns commodities Copper drops further amid China’s demand worry U.S crude oil limits losses ending up 1.7% Dollar hits two-month high against Euro

Gold ended up marginally but remained cautious tracking global economic instability. Gold gained $5 to end the week at $1363.48 and touched weekly high of $1382. The cautiousness in gold was due to recent recovery in dollar as it hit fresh two-month high against Euro & China’s anti-inflation rate hikes. Though, Gold recovered some losses due to modest buying amid investors rising concerns over Euro zone credit worries and Irish debt crisis that may engulf other Euro zone. The momentum in gold is now due to currency fluctuations as buyers bid for it as a safe haven amid economic instability while liquidation is due to continuous rising dollar. World’s largest gold backed ETF, New York’s SPDR gold trust reported a drop down in its holdings to 1,285.084 tonnes vs. 1,289.36 tonnes.

Copper ended down for third consecutive week amid thin trading as the euro zone debt crisis boosted the dollar and fear of another interest rate hikes in China stoked worries about demand from the world's top metals buyer as another rate hike will dampen the base metals further pushing their demands lower. Copper opened the week at $385.3 and shredded almost $13 to end the week at $373.8. It took a crucial support of $365.35 while its RSI is at 58.63. The three month copper at London metal exchange closed down at $8239 a tonne vs. $8340 and ran into its third consecutive weekly loss. Further trigger for copper will be the crucial Euro zone debt crisis and China’s monetary action.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1466

R3 1432

R2 1398

R1 1381

P 1364

S1 1347

S2 1330

S3 1296

S4 1262

OUTLOOK Trend:- Consolidate Resistance:- $1377 77,1401 Support:- $1339,131 1317 Strategy:- Buy on dips GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 31.49

R3 29.99

R2 28.49

R1 27.59

P 26.99

S1 26.09

S2 25.49

S3 23.99

S4 22.49

OUTLOOK Trend:- Consolidate Resistance:- $27.85,29.34 Support:- $25.85,24.95 Strategy:- Buy on dips SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 95.6

R3 91.4

R2 87.1

R1 85.4

P 82.7

S1 81.2

S2 78.6

S3 74.3

S4 70.1

OUTLOOK Trend:- Consolidate Resistance:- $87.22,90.40 Support:- $79.70,75.86 Strategy:- Sell on highs CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 5.50

R3 5.11

R2 4.73

R1 4.56

P 4.34

S1 4.17

S2 3.95

S3 3.56

S4 3.17

OUTLOOK Trend:- Bullish Resistance:- $4.500,4.715 Support:- $4.164,3.848 Strategy:- Buy on dips NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 439.6

R3 418.2

R2 396.8

R1 385.3

P 375.4

S1 363.9

S2 354.1

S3 332.6

S4 311.2

OUTLOOK Trend:- Consolidate Resistance:- $388,398 Support:- $365,356 Strategy:- Sell on highs COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 48.10

R3 47.26

R2 46.42

R1 46.12

P 45.58

S1 45.28

S2 44.74

S3 43.90

S4 43.06

OUTLOOK Trend:- Bullish Resistance:- `46.45 6.45,47.41 Support:- `45.12,,44.06 Strategy:- Buy on dips USD/INR WEEKLY

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