Weekly Newsletter Newsletter-Commodity Commodity 15/08/2011
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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 Gold ended up gaining more than $60 this week SPDR Gold ETF saw its biggest outflow in 6 months Copper ended down for second consecutive week U.S jobless claims and retail sales up at 5.2% U crude oil inventories came much lower at -5.2M vs. expected at 1.7M.
Gold ended up gaining more than $60 this week after making a fresh all time high of $1814.25. Though, its gains were trimmed as COMEX hiked the margin for this precious metal, also, as Dollar strengthened and stocks recovered on the back of increase in risk appetite. SPDR Gold ETF saw its biggest outflow in 6 months of 23.6 tonnes. Silver gained marginally nearly 2% after previous sell-off and ended the week at $39.06.
Copper ended down for second consecutive week though recovered its losses on the back of rise in Wall Street equities and Dollar. LME Copper ended down losing $127 to end the week at $8842 while it recovered after making a fresh 3-month low of $8521. U.S copper recovered from $398 to end the week above psychological level of $400 at $401.2. Copper in coming week will take cues from Wall Street and Dollar.
Crude Oil recovered smartly this week to end the week on positive basis at $85.23. Crude recovered more than $8 after making a fresh 10-week low of $75.67 as Equities rebounded and Dollar strengthened against a basket of currencies while better than expected U.S jobless claims and retail sales up at 5.2% improved investors risk appetite. EIA U.S crude oil inventories came much lower at -5.2M vs. expected at 1.7M.
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TECHNICAL VIEW GOLD WEEKLY PIVOT SCRIPT GOLD
R4 2188
R3 2039
R2 1891
R1 1818
P 1742
S1 1670
S2 1594
S3 1445
S4 1297
OUTLOOK Trend:- Bullish 1820,1890$ Resistance:- 1820,1890 Support:- 1705,164 1643$ Strategy:- Buy on dips GOLD WEEKLY
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SILVER WEEKLY PIVOT SCRIPT SILVER
R4 48.99
R3 45.59
R2 42.19
R1 40.62
P 38.79
S1 37.22
S2 35.39
S3 31.99
S4 28.59
OUTLOOK Trend:- Consolidate Resistance:- 39.70 39.70,42.95$ Support:- 37.75,36.80 ,36.80$ Strategy:- Buy on dips SILVER WEEKLY
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CRUDE WEEKLY PIVOT SCRIPT CRUDE
R4 117.8
R3 106.1
R2 94.5
R1 89.9
P 82.8
S1 78.3
S2 71.2
S3 59.5
S4 47.9
OUTLOOK Trend:- Consolidate Resistance:- 91.7,94.8 91.7,94.8$ Support:- 84.1,78.5 78.5$ Strategy:- Sell on high CRUDE WEEKLY
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NATURALGAS WEEKLY PIVOT SCRIPT NG
R4 4.94
R3 4.63
R2 4.32
R1 4.19
P 4.01
S1 3.88
S2 3.70
S3 3.39
S4 3.08
OUTLOOK Trend:- Consolidate Resistance:- 4.170, 4.170,4.560$ Support:- 3.760,3.510 3.760,3.510$ Strategy:- Sell on high NATURALGAS WEEKLY
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COPPER WEEKLY PIVOT SCRIPT COPPER
R4 10371
R3 9848
R2 9325
R1 9084
P 8802
S1 8561
S2 8279
S3 7756
S4 7233
OUTLOOK Trend:- Consolidate Resistance:- 9140, 0,9790 Support:- 8520,79 7980 Strategy:- Sell on high COPPER WEEKLY
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USD/INR WEEKLY PIVOT SCRIPT INR
R4 47.56
R3 46.79
R2 45.93
R1 45.56
P 45.07
S1 44.70
S2 44.21
S3 43.35
S4 42.49
OUTLOOK Trend:- Consolidate Resistance:- 45.85 85,46.35 Support:- 44.75,443.85 Strategy:- Buy on dips USD/INR WEEKLY
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