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Weekly Newsletter03/01/2011
Weekly Newsletter-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
Second year of top gains set high hopes for 2011 in commodities
Silver is hottest commodity in CRB, rising 83 pct
Gold posts 10th annual gain
Copper caps 2010 with run of records
Oil hits 26-month high to end 2010 up 15 pct
Gold gained almost 30% this year and posted its tenth annual gain. Gold ended positive
for fifth consecutive week while posting one of the biggest weekly gains to end near its all
time of $1431.12. Gold gained $48 this week to end the year on positive note at $1421.15.
The surge in gold is due to languishing dollar and uncertain global economic stability.
Precious metals outlook in 2011 is positive while Gold will continue to rise in 2011 on the
back of strong fundamentals, inflationary pressures in China and abundant liquidity in the
global markets complimented by a weaker dollar. Though on a cautious note, holdings of
the world’s largest gold backed ETF, New York’s SPDR fell to 1,280.722 tonnes vs.
1,284.973 tonnes, it’s lowest since early June.
Crude oil ended positive for 3rd consecutive week hitting a fresh 28-month high of $92.03
while it gained 15% in 2010 though its weekly gain were comparatively less on smaller
than expected drop in crude oil inventories. Crude oil gained $0.57 this week to end at
$91.39 on the back of positive U.S economic data like jobless claims which came down at
388k & pending home sales up at 3.5%. The demand of crude in 2011 is expected to rise
as the OPEC is not clear over increasing the crude production in coming half year of 2011.
The crude inventories for the week came at (-) 1.3m vs. (-) 5.3m against expected at (-)
2.8m. Natural gas lost 20.9% this year while ended the week at $4.392 gaining 7.6% this
week. The natural gas storage came at (-) 136b.
TECHNICAL
WEEKLY PIVOT
SCRIPT R4 R3 R2
GOLD 1554 1504 1454
OUTLOOK
Trend:- Bullish
Resistance:- 1438
Support:- 1402,13
Strategy:- Buy on dips
ECHNICAL VIEW GOLD
R2 R1 P S1 S2
1454 1438 1404 1388 1354
438,1480$
1371$
Buy on dips
GOLD WEEKLY
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S3 S4
1304 1254
WEEKLY PIVOT
SCRIPT R4 R3 R2
SILVER 36.77 34.57 32.37
OUTLOOK
Trend:- Bullish
Resistance:- 31.60,32.40
Support:- 30.20,29.40
Strategy:- Buy on dips
SILVER
R2 R1 P S1 S2
32.37 31.60 30.17 29.40 27.97
31.60,32.40$
30.20,29.40$
Buy on dips
SILVER WEEKLY
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S3 S4
25.77 23.57
WEEKLY PIVOT
SCRIPT R4 R3 R2
CRUDE 99.9 96.9 93.8
OUTLOOK
Trend:- Consolidate
Resistance:- 93.80
Support:- 89.10,85
Strategy:- Buy on dips
CRUDE
R2 R1 P S1 S2
93.8 92.6 90.8 89.6 87.8
Consolidate
93.80,98.90$
.10,85.20$
Buy on dips
CRUDE WEEKLY
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S3 S4
84.8 81.7
WEEKLY PIVOT
SCRIPT R4 R3 R2
NG 5.49 5.09 4.69
OUTLOOK
Trend:- Bearish
Resistance:- 4.240,
Support:- 3.860,3.
Strategy:- Sell on high
NATURALGAS
R2 R1 P S1 S2
4.69 4.54 4.29 4.14 3.89
4.240,4.650$
3.520$
Sell on high
NATURALGAS WEEKLY
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S3 S4
3.49 3.09
WEEKLY PIVOT
SCRIPT R4 R3
COPPER 510.1 485.3 460.5
OUTLOOK
Trend:- Bullish
Resistance:- 452,473
Support:- 421,399
Strategy:- Buy on dips
COPPER
R2 R1 P S1 S2
460.5 451.9 535.8 427.1 411.0
452,473
421,399
Buy on dips
COPPER WEEKLY
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S3 S4
386.2 361.5
WEEKLY PIVOT
SCRIPT R4 R3 R2
INR 46.74 46.12 45.50
OUTLOOK
Trend:- Consolidate
Resistance:- 45.40
Support:- 44.50,43.90
Strategy:- Sell on high
USD/INR
R2 R1 P S1 S2
45.50 45.10 44.88 44.48 44.26
Consolidate
0,46.20
43.90
Sell on high
USD/INR WEEKLY
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43.64 43.02
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