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Daily Newsletter Newsletter-Commodity 29/12/2010

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MARKET WRAP U.S. copper hits record high on dlr, supply fears Dollar tumbles versus basket of currencies U.S. gold pierces $1,400, surging over 1 percent Oil prices climb above $91/bbl Silver up almost 1.75% after consolidation

U.S. crude prices rose above $91 a barrel, hovering just below a 26-month top hit in the previous session, supported by a weaker dollar and hopes that a major snow storm on the U.S. East Coast would stoke demand for heating oil. U.S. copper futures rumbled to a new record top in thin dealings on Tuesday, propped up by sharp falls in the dollar, a strong Chinese currency and threats of supply disruptions. U.S. gold futures vaulted over 1 percent to a session top of $1,400.60 an ounce on Tuesday, spurred by a weaker dollar and buying interest out of Asia. The dollar came under broad selling pressure, hitting an all-time low against the Swiss franc as the euro recovered against the greenback.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Wed Dec 29

All Day

EUR

German Prelim CPI m/m

0.8%

0.1%

2:30pm

EUR

M3 Money Supply y/y

1.6%

1.0%

2:30pm

EUR

Private Loans y/y

1.7%

1.4%

3:00pm

GBP

Housing Equity Withdrawal q/q

-5.5B

-6.2B

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info@capitalheight.com Phone- (0731)4295950

TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Consolidate • Buy on dips

SILVER(MAR MAR) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -20950 • R1 -20790

Resistance

• R2 - 46500 • R1 - 45750

support

• S1 -20510 • S2 -20250

support

• S1 - 44450 • S2 - 43550

COPPER(FEB) Trend Strategy

• Bullish • Buy on dips

CRUDE(JAN)) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 442 • R1 - 433

Resistance

• R2 - 4250 • R1 - 4170

support

• S1 - 423 • S2 - 414

support

• S1 - 4110 • S2 - 4030

NATURALGAS(JAN) Trend Strategy

• Consolidate • Sell on high

LEAD(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 201 •R1 - 193

Resistance

• R2 - 114.3 • R1 - 111.9

support

•S1 - 183 •S2 - 175

support

• S1 - 109.3 •S2 - 106.5

ZINC(DEC) Trend Strategy

• Consolidate • Sell on high

NICKEL(DEC) NICKEL(DEC Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.5 •R1 - 105.1

Resistance

•R2 - 1118 •R1 - 1097

support

•S1 - 102.8 •S2 - 98.5

support

•S1 - 1068 •S2 - 1045

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info@capitalheight.com Phone- (0731)4295950

ALUMINIUM(DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 113.8 •R1 - 110.9

support

•S1 - 108.9 •S2 - 106.7

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