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Weekly Newsletter-Commodity 30/05/2011

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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 Copper hit three-week highs on Friday Gold prices stayed near three-week highs U.S. April pending home sales dive 11.6 pct to 7-mth low Crude oil trading almost flat near 100$ Silver inches above 38$, on weak dollar

Gold

ended up for second consecutive week on the back of Greek debt fears

encouraged it as a safe haven & softer dollar underpinned sentiment. Gold gained more than $25 to end the week at $1536.28 & it may test its all time high in near term. While Silver rose more than 8% gaining nearly $3 to end at $37.94. Holdings of the world’s largest Silver backed ETF, iShare silver trust dropped 0.51% to 9,941.33 tonnes.

Copper continued

its uptrend and added nearly $10 to end the week at $418.10 as

weaker dollar and month end evaluation boosted prices but its gains were capped by poor U.S data underlining a weak global demand outlook. 14 Days RSI for copper is at 50.82 and its upside resistance is at $425 - $440 while support is at $395 – $382. LME monitored copper stocks added 1250 tonnes and now stands at 468,225 tonnes. .

Crude oil gained more than $1 to end the week above psychological level of $100 at $100.60 finding support from gasoline futures which soared in anticipation of higher demand. London Brent crude settled the week at $115.03 a barrel, up 1.12%. Crude oil upside gains were capped by weak consumer spending at 0.4% vs. 0.6%. IEA crude oil inventories for the week came at 0.6M as against expected at (-) 1.6M.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1629

R3 1595

R2 1560

R1 1548

P 1526

S1 1514

S2 1492

S3 1457

S4 1423

OUTLOOK Trend:- Consolidate Resistance:- 1548,1576$ Support:- 1515,1478$ Strategy:- Buy on dips GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 50.45

R3 45.98

R2 41.51

R1 39.73

P 37.04

S1 35.26

S2 32.57

S3 28.10

S4 23.63

OUTLOOK Trend:- Consolidate Resistance:- 39.45,42.20$ Support:- 36.55,34.35$ Strategy:- Buy on dips SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 116.2

R3 110.7

R2 105.2

R1 102.9

P 99.6

S1 97.4

S2 94.1

S3 88.6

S4 83.1

OUTLOOK Trend:- Consolidate Resistance:- 105.7,114.2$ Support:- 98.6,95.3$ Strategy:- Buy on dips CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 5.32

R3 5.03

R2 4.73

R1 4.62

P 4.44

S1 4.33

S2 4.14

S3 3.85

S4 3.55

OUTLOOK Trend:- Consolidate Resistance:- 4.820,5.220$ Support:- 4.290,4.040$ Strategy:- Buy on dips NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 484.2

R3 459.7

R2 435.2

R1 426.7

P 410.7

S1 402.2

S2 386.2

S3 361.7

S4 337.2

OUTLOOK Trend:- Consolidate Resistance:- 425,438 Support:- 395,378 Strategy:- Buy on dips COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 46.72

R3 46.20

R2 45.68

R1 45.43

P 45.16

S1 44.91

S2 44.64

S3 44.12

S4 43.60

OUTLOOK Trend:- Consolidate Resistance:- 45.80,46.30 Support:- 44.75,44.10 Strategy:- Buy on dips USD/INR WEEKLY

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