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Economic Data
Date
Tue Jun 14
Time
4:30am 6:00pm 6:00pm 6:00pm 6:00pm 1:00pm
Currency
USD USD USD USD USD USD
Economic Data
FOMC Member Fisher Speaks Core Retail Sales m/m PPI m/m Retail Sales m/m Core PPI m/m Treasury Sec Geithner Speaks
Market
watch
Gold fell almost 1 percent on Friday for its biggest one-day decline in a month, as dollar rally coupled with losses in crude oil and commodities prompted investors to sell ahead of the weekend. Bullion also came under liquidation pressure as Wall Street resumed its slide following weaker Chinese trade data, and the euro tumbled more than 1 percent as fears over Greece's debt returned to the forefront. Spot gold fell to a one-week low at $1,525.74 an ounce and was down 0.7 percent at $1,532.14. The metal was down 0.5 percent for the week, poised to snap a three-week winning streak. Despite Friday's loss, the metal is up 5 percent in the past five weeks on a string of bleak U.S. economic data including a weak jobs report last week. U.S. gold futures for August delivery settled down $13.50 at $1,529.20, after trading between $1,526.70 and $1,546.50. COMEX gold futures volume was around
Wed Jun 15
Core CPI m/m CPI m/m Empire State Manufacturing Index TIC Long-Term Purchases Capacity Utilization Rate Industrial Production m/m NAHB Housing Market Index Crude Oil Inventories
Market
watch
Thu Jun 16
Oil prices fell on Friday on news Saudi Arabia was offering more oil to Asian customers, with additional pressure from a stronger dollar and weak equities. Brent's premium to U.S. crude hit a record high for a second time this week, moving above $19 a barrel, supported by sweet crude production shut in by Libya's conflict and disrupted North Sea production. The dollar index strengthened as the euro fell across the board, and uncertainty about Greece's debt problems and a slowing U.S. economy boosted risk-averse sentiment and pressured dollardenominated oil prices. U.S. stocks fell as China's weak trade data and the Greek debt problems reinforced concerns about slowing economies. The Dow and S&P 500 posted their sixth consecutive weekly loss for the first time since mid-2008. OPEC followed this week's failure to reach an output deal with a forecast world oil supplies would begin to fall short later this year,
Building Permits Unemployment Claims Current Account Housing Starts Philly Fed Manufacturing Index Natural Gas Storage Prelim UoM Consumer Sentiment Prelim UoM Inflation Expectations CB Leading Index m/m
Market
watch
Fri Jun 17
74.7
74.3 4.1%
0.3%
-0.3%
Copper fell on Friday to its lowest level since late May after another month of disappointing import statistics from China weighed on sentiment, and left the market to pin its hopes on a June revival. The negative close dragged prices down for a second straight week. From an extended dollar rally versus the euro to easing supply-side threats in Chile to a deteriorating technical picture, further weakness was likely in store for prices in the week ahead. Copper stocks in bonded warehouses in Shanghai are estimated to have fallen by 50 percent or more from above 600,000 tonnes earlier this year as merchants sold the material into China's backward dated market to take advantage of strong prompt prices. On Friday, figures showed that Shanghai copper warehouse stocks fell 3.4 percent, or 2,888 tonnes, from a week ago to stand just above 83,000 tonnes. LME copper stocks edged up 75 tonnes to 477,925 tonnes -- their highest since last May. In the United States, inbound shipments of the metal rose for a second straight month in April despite weakness in housing. Copper is used mainly in building construction. Still demand in China, the biggest consumer of copper, remains strong and that consumers
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GOLD
SILVER
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 1593 1565 1547 1536 1518 1508 1480
Observation
MARKET OVERVIEW
COMEX Gold is in an upward phase. Last week COMEX Gold neither sustain on higher levels nor at lower levels. In the coming week 1475$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1520 $ an ounce then above 1551 $ an ounce it can touch the level of 1565$ an ounce and if COMEX Gold sustains below 1500$ then it can slightly correct and test the level of 1485$ an ounce.
MARKET OVERVIEW
COMEX Silver is technically consolidating on charts. Last week COMEX Silver neither sustain on higher levels nor at lower levels. For the upcoming week 3480$ and 3250$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 52000 and 50000 will act as major supports.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 4034 3854 3743 3675 3564 3495 3316
STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1551$ it can test the level of 1565 $ an ounce and above 1575$ it can further move upward. Trade by keeping the strict stop losses. Major support for COMEX Gold in the coming week is 1500$ and 1460$. Major resistance for COMEX Gold in the coming week is 1580$ and 1625$ Major support in MCX Gold is 22400 and 22200 Major resistance in MCX Gold is 22850 and 23050
STRATEGY
Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3790$ an ounce it can further go upward and can test the level of 3880$ an ounce. Trade by keeping the proper stop losses.
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Weekly Chart
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CRUDE
COPPER
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 109.22 104.52 101.90 99.82 97.20 95.12 90.42
Observation
MARKET OVERVIEW
NYMEX Crude is in upward phase. Last week Crude oil neither sustain on higher level nor at lower level. For the coming week 94$ and 88$ will act as major supports and 106.50 $ and 109.50$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 4650 and 4780 and major supports will be 4360 and 4150.
MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. Last week COMEX Copper was down for most part of week and closed near to its week low. If next week COMEX Copper sustains below the level of 415 then below the level of 399 Copper can test the level of 392. In MCX Copper below 399 Copper can test the level of 397 if it does not break the level of 415 on the upside.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 437.80 423.20 414.40 408.60 399.80 394.00 379.40
STRATEGY
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 94 $ a barrel then above 103.5$ it can slightly come up and touch the level of 106 $ a barrel and in MCX above 4625 Crude oil can touch the level of 4705 if it sustains above 4360. Trade by keeping the proper stop loss.
STRATEGY
For the upcoming week 435 and 437 will act as major resistance and 400 and 380 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 425 and 437 and supports would be found at 400 and 380.
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Weekly Chart
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NATURAL GAS
USD / INR
Weekly Chart
Expert
Observation
Expert
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 5.696 5.223 4.990 4.750 4.517 4.277 3.804
Observation
MARKET OVERVIEW
Natural Gas is in a consolidation phase and traders should use the strategy of selling on higher levels. Last week Natural Gas was up for most part of the week but on the last two days it came down. If next week Natural Gas does not sustains above the level of 4.900 $ then below the level of 4.520$ Natural Gas can test the level of 4.405 $ and above 4.990 $ Natural Gas can slightly go up and test the level of 5.090 $. In MCX, if Natural Gas sustains below 211 in the coming week then it can test the level of 204, if it does not break the level of 222 on the upside.
MARKET OVERVIEW
USD/INR is consolidating on charts so traders can use the strategy of buying on lower levels. If next week USD/INR sustains above the level of 44.5000 then above the level of 44.8200 USD/INR can test the level of 44.9800 and below 44.4900 USD/INR can slightly go down and test the level of 44.3900.
WEEKLY PIVOTS
Script R3 R2 R1 PP S1 S2 S3 Levels 45.2500 44.9700 44.8400 44.6900 44.5600 44.4100 44.1300
STRATEGY
For the upcoming week 43.8000 and 43.5000 will act as major supports and 45.8000 and 46.4000 will act as major resistance in USD/INR.
STRATEGY
For the upcoming week 4.050$ and 3.650 $ will act as major supports and 5.200$ and 5.600$ will act as major resistance in US Natural Gas. For MCX Natural Gas major resistance would be 225 and 235, supports would be found at 200 and 190.
Weekly Chart
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GOLD SILVER COPPER CRUDE OIL NATURAL GAS LEAD ZINC NICKEL ALUMINUM
5 -AUG -11 5-JUL -11 30-JUN-11 20-JUN-11 27-JUN-11 30-JUN-11 30-JUN-11 30-JUN-11 30-JUN-11
GOLD SILVER COPPER CRUDE OIL NATURAL GAS NATURAL GAS LEAD NICKEL ALUMINIUM
RS. / 10GM. RS. / KG. RS. / KG. RS/QUINTAL RS. / BBL. RS./ MM BTU RS. / KG. RS. / KG. RS. / KG.
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Weekly Pivots
Closing Price
1529.2 3632.7 405.6 99.29 4.757 44.72
% Change
-0.86 0.38 -1.90 -0.93 1.06 -0.22
Scripts
GOLD SILVER COPPER CRUDE OIL NATURAL GAS LEAD ZINC NICKEL ALUMINUM
R3
23259.00 59089.00 431.30 4847.33 245.27 125.83 106.62 1091.53 125.47
R2
22927.00 57037.00 418.20 4655.33 230.27 119.88 104.12 1057.83 121.52
R1
22736.00 55742.00 409.90 4543.67 222.03 117.07 102.58 1041.07 119.13
PP
22595.00 54985.00 405.10 4463.33 215.27 113.93 101.62 1024.13 117.57
S1
22404.00 53690.00 396.80 4351.67 207.03 111.12 100.08 1007.37 115.18
S2
22263.00 52933.00 418.97 4271.33 200.27 107.98 99.12 990.43 113.62
S3
21931.00 50881.00 378.90 4079.33 185.27 102.03 96.62 956.73 109.67
Weekly Gainers
Commodity LEAD Expiry Date 30 JUN-11 Closing Price 114.25 213.80 54447 % Change 3.63 1.42 0.08
Weekly Losers
Commodity COPPER CRUDE OIL ALUMINIUM Expiry Date 30 JUN-11 20 JUN-11 30 JUN-11 Closing Price 401.60 4432 116.75 % Change -1.74 -1.60 -0.81
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