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Weekly New 20/12/2010 wsletter-Commodit www.capita ty alheight.com

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Weekly Newsletter20/12/2010

Weekly Newsletter-Commodity

www.capitalheight.com

Commodity

www.capitalheight.com

www.capitalheight.com

Capitalheight.wordpress.com

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Phone- (0731)4295950

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

SPDR gold ETF sees further outflow, Indian demand soft

Euro declined for a second straight week against the dollar

2011 outlook remains bullish for gold

Copper ends up as market eyes 2011 demand boost

LME copper stocks up for 5th straight day

Gold ended negative for second consecutive week after touching weekly high of

$1408.08 to end at $1375.10. The precious metal lost its appeal as a safe haven as number of

U.S economic data jumped up in November. Gold lost almost $5 this week as U.S jobless

claims came lower & Industrial activity came up at 24.3 signaling economic recovery. Bargain

hunting for gold came in physical market from Asian countries & investors complimented by a

weaker dollar, also, due to uncertainties over Europe’s debt contagion as Moody’s cut Ireland’s

debt rating & putting Spain & Belgium in review. Gold is seen in the range of $1420 - $1370 till

the year end due to thin trading and holidays. The holding’s of the worlds’ largest gold backed

ETF, New York’s SPDR fell to a two month low of 1,283.757 tonnes.

Copper ended up for third consecutive week and surged $7 to end the week at $416.35.

Copper made a new all time high of $421.95 while it touched weekly low of $407.17. Copper’s

bullish trend is supported by its demand expectations in coming year and positive U.S

economic data. Copper edged higher despite a rallying dollar against Euro as investors kept

eye on stream of positive U.S economic data & China’s copper restocking next year. The

industrial activity in U.S came up as Philly fed manufacturing index came at 24.3 vs. 22.5 while

supply demand fundamental will continue to triumph for copper. London metal exchange (LME)

benchmark copper ended up $79 at $9,070 a tonne, nearly $200 away from its all time high of

$9,267.5 hit on Dec. 14.

TECHNICAL

WEEKLY PIVOT

SCRIPT R4 R3 R2

GOLD 1415 1401 1387

OUTLOOK

Trend:- Consolidate

Resistance:- 1377

Support:- 1361,13

Strategy:- Buy on dips

ECHNICAL VIEW GOLD

R2 R1 P S1 S2

1387 1381 1373 1367 1359

Consolidate

1377,1420$

1345$

Buy on dips

GOLD WEEKLY

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S3 S4

1345 1331

WEEKLY PIVOT

SCRIPT R4 R3 R2

SILVER 33.99 32.37 30.75

OUTLOOK

Trend:- Consolidate

Resistance:- 29.35,

Support:- 28.45,27

Strategy:- Buy on dips

SILVER

R2 R1 P S1 S2

30.75 29.94 29.13 28.32 27.51

Consolidate

29.35,30.25$

28.45,27.90$

Buy on dips

SILVER WEEKLY

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S3 S4

25.89 24.27

WEEKLY PIVOT

SCRIPT R4 R3 R2

CRUDE 96.0 93.4 90.7

OUTLOOK

Trend:- Consolidate

Resistance:- 90.70,

Support:- 85.90,80.20

Strategy:- Buy on dips

CRUDE

R2 R1 P S1 S2

90.7 89.4 88.1 86.8 85.5

Consolidate

90.70,93.90$

.90,80.20$

Buy on dips

CRUDE WEEKLY

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S3 S4

82.9 80.2

WEEKLY PIVOT

SCRIPT R4 R3 R2

NG 5.96 5.37 4.77

OUTLOOK

Trend:- Bearish

Resistance:- 4.240,

Support:- 3.860,3.

Strategy:- Sell on high

NATURALGAS

R2 R1 P S1 S2

4.77 4.41 4.18 3.82 3.58

4.240,4.650$

3.520$

Sell on high

NATURALGAS WEEKLY

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S3 S4

2.99 2.39

WEEKLY PIVOT

SCRIPT R4 R3

COPPER 459.5 444.7 429.9

OUTLOOK

Trend:- Bullish

Resistance:- 423,43

Support:- 405,391

Strategy:- Buy on

COPPER

R2 R1 P S1 S2

429.9 423.1 415.2 408.4 400.4

423,437

,391

Buy on dips

COPPER WEEKLY

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S3 S4

385.6 370.8

WEEKLY PIVOT

SCRIPT R4 R3 R2

INR 47.48 46.72 45.96

OUTLOOK

Trend:- Consolidate

Resistance:- 45.60

Support:- 44.70,43.90

Strategy:- Sell on high

USD/INR

R2 R1 P S1 S2

45.96 45.56 45.20 44.80 44.44

Consolidate

60,46.20

43.90

Sell on high

USD/INR WEEKLY

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S3 S4

43.68 42.92

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