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Weekly Newsletter-Commodity 10/10/2011

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

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MARKET WRAP U.S. crude jumped 4.7 percent for the week Gold still notched its first weekly gain in a month Copper up nearly 5 pct on week Copper Inventories are still about a third higher since last December Natural gas trading near multi weeks low

Gold edged up this week and witnessed a range bound trading week while it is expected to continue to consolidate between $1680- $1590. Gold edged up $7 to end the week at $1635.85 after Fitch downgraded Spain and Italy while better than expected economic data from U.S capped its upside gains. Silver gained for 2 nd consecutive week with a gain of almost $1 to end the week at $31.07 after making weekly high of $32.81.

Copper posted gains for second consecutive week on the back of positive economic data coming from U.S economy and support of 50% retracement of its uptrend from $2770 to $10160. Benchmark 3-month LME copper gained $678 to end the week at $7250 while U.S

COMEX

copper

gained

more

than

4%

to

end

the

week

at

$328.75.

U.S non-farm employment change came up at 103K while jobless rate fell to 7.10%.

Crude rebounded and paired its last week two weeks losses after better than expected U.S non-farm change at 103K and lower jobless rate supported crude oil prices coupled with strengthening Dollar and falling U.S crude oil inventories. Crude oil gained almost $5 to end the week at $82.34 while Brent crude rose $3.5 to end at $105.65. EIA crude oil inventories were on a falling spree for 2nd week down at (-) 4.7M vs. 1.9M.

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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD

R4 1885

R3 1803

R2 1720

R1 1679

P 1637

S1 1596

S2 1555

S3 1472

S4 1389

OUTLOOK Trend:- Consolidate Resistance:- 1676,1724$ Support:- 1592,1533$ Strategy:- Sell on high GOLD WEEKLY

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SILVER WEEKLY PIVOT SCRIPT SILVER

R4 43.97

R3 39.57

R2 35.17

R1 33.14

P 30.77

S1 28.74

S2 26.37

S3 21.97

S4 17.57

OUTLOOK Trend:- Consolidate Resistance:- 33.55,36.80$ Support:- 29.70,26.30$ Strategy:- Sell on high SILVER WEEKLY

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CRUDE WEEKLY PIVOT SCRIPT CRUDE

R4 107.7

R3 98.7

R2 89.6

R1 86.3

P 80.6

S1 77.2

S2 71.6

S3 62.5

S4 53.5

OUTLOOK Trend:- Consolidate Resistance:- 87.20,90.45$ Support:- 80.50,75.20$ Strategy:- Sell on high CRUDE WEEKLY

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NATURALGAS WEEKLY PIVOT SCRIPT NG

R4 4.21

R3 3.99

R2 3.76

R1 3.61

P 3.54

S1 3.39

S2 3.31

S3 3.09

S4 2.86

OUTLOOK Trend:- Consolidate Resistance:- 3.690,4.180$ Support:- 3.395,3.220$ Strategy:- Sell on high NATURALGAS WEEKLY

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COPPER WEEKLY PIVOT SCRIPT COPPER

R4 9321

R3 8751

R2 7821

R1 7535

P 7071

S1 6785

S2 6321

S3 5571

S4 4821

OUTLOOK Trend:- Consolidate Resistance:- 7675,7985 Support:- 6740,6310 Strategy:- Sell on high COPPER WEEKLY

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USD/INR WEEKLY PIVOT SCRIPT INR

R4 51.02

R3 50.40

R2 49.78

R1 49.40

P 49.16

S1 48.78

S2 48.54

S3 47.92

S4 47.30

OUTLOOK Trend:- Consolidate Resistance:- 49.85,50.65 Support:- 48.20,47.35 Strategy:- Buy on dips USD/INR WEEKLY

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