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Weekly commodity news letter by CaitalHeight 20 09-10http://www.capitalheight.com9993066624TRANSCRIPT
Weekly Newsletter20/09/2010
Weekly Newsletter-Commodity
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Commodity
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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
Dollar's falls V/S dollar
Gold hits record high above 1282$
Crude slipped down $ 4 to end the week at $ 74.81
Copper recovers from its last week low
Nickel trading near recent high
Gold touched an all time new high this week fueled by the volatile & uncertain global
markets. Gold opened the week at $ 1245 and rallied $ 33 to touch an all time high of $
1282.78 after breaching recent weekly highs of $ 1274.60 $ 1277.80. It rallied almost $ 37
due to complete lack of confidence of global investors in the governments to sort out the
financial mess. The fundamental factor for gold was recent hike in Thailand’s gold holding
which is raised by a fifth in July and demand from other major Asian economies like China
and India. Though, Gold lost $ 10 at the weekend on profit booking ending the week at
$1274.03. Silver eclipsed gold and touched a new two and a half year high of $ 20.98 and
settled at $ 20.72
Crude oil prices shred its last week gains after touching a five week high of $ 78.02.
Crude slipped down $ 4 to end the week at $ 74.81. Crude prices cracked due to
downbeat Philly fed manufacturing index data at (-) 0.7 & empire state manufacturing data
down at 4.1. The crucial factor for slipped down crude prices was repairing of Enbridge
energy partners link pipeline and accumulated crude inventories at (-)2.5m vs. (-)1.9m.
Crude oil gained as EIA reported increased number of supplies later this week but fears of
deflation pushed the prices down again. Natural gas surged this week to a monthly high of
4.134 due to speculation of a tropical weather system developing in Caribbean.
As per EIA, natural gas storage came at 103b vs. 58b.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
GOLD 1392 1350 1308
OUTLOOK
Trend:- Bullish
Resistance:- 1282
Support:- 1267,12
Strategy:- Buy on dips
ECHNICAL VIEW GOLD
R2 R1 P S1 S2
1308 1291 1266 1249 1224
82,1325$
1237$
Buy on dips
GOLD WEEKLY
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S3 S4
1182 1140
WEEKLY PIVOT
SCRIPT R4 R3 R2
SILVER 24.09 22.89 21.69
OUTLOOK
Trend:- Bullish
Resistance:- 20.95
Support:- 20.50,19.95
Strategy:- Buy on dips
SILVER
R2 R1 P S1 S2
21.69 21.21 20.49 20.01 19.29
5,21.70$
20.50,19.95$
Buy on dips
SILVER WEEKLY
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S3 S4
18.09 16.89
WEEKLY PIVOT
SCRIPT R4 R3 R2
CRUDE 90.6 85.3 80.1
OUTLOOK
Trend:- Consolidate
Resistance:- 76.50,
Support:- 72.50,69.70
Strategy:- Sell on higher
CRUDE
R2 R1 P S1 S2
80.1 76.8 74.8 71.6 69.5
Consolidate
.50,81.70$
69.70$
Sell on higher
CRUDE WEEKLY
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S3 S4
64.2 59.0
WEEKLY PIVOT
SCRIPT R4 R3 R2
NG 4.96 4.64 4.31
OUTLOOK
Trend:- Consolidate
Resistance:- 4.130
Support:- 3.680,2.970
Strategy:- Sell on high
NATURALGAS
R2 R1 P S1 S2
4.31 4.15 3.98 3.82 3.65
Consolidate
4.130,4.490$
2.970$
Sell on high
NATURALGAS WEEKLY
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S3 S4
3.32 2.99
WEEKLY PIVOT
SCRIPT R4 R3
COPPER 385.3 373.1 361.0
OUTLOOK
Trend:- Consolidate
Resistance:- 353,365
Support:- 342,333
Strategy:- Buy on dips
COPPER
R2 R1 P S1 S2
361.0 355.8 348.9 343.7 336.8
Consolidate
,365
333
Buy on dips
COPPER WEEKLY
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S3 S4
324.6 312.5
WEEKLY PIVOT
SCRIPT R4 R3 R2
INR 48.00 47.34 46.68
OUTLOOK
Trend:- Consolidate
Resistance:- 46.30,
Support:- 45.70,45.10
Strategy:- Sell on high
USD/INR
R2 R1 P S1 S2
46.68 46.26 46.02 45.60 45.36
Consolidate
46.30,47.15
,45.10
Sell on high
USD/INR WEEKLY
www.capitalheight.com
Phone- (0731)4295950
S3 S4
44.70 44.04
www.capitalheight.com
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