Metals Buzz-Daily

                                       Wednesday, February 24th, 2010 

Bullions 
 
Commodity  Close  +/‐ Change  Bullions News and Technical Outlook 
Comex Gold  $ 1102.20  ‐10.90  Comex  gold  traded  lower  as  equities  weakened  and  the  dollar 
Comex  Silver  $ 15.855  ‐0.367  remained  stronger  after  a  weak  U.S.  consumer‐confidence  index. 
MCX Gold   Rs. 16601.00  ‐91.00  Metals  gave  up  some  of  last  week's  gains,  with  the  dollar  upticking 
MCX Silver   Rs. 24888.00  ‐372.00  and  stocks  easing.  April  gold  traded  $10.90  lower  at  $1,102.20  an 
  ounce, while May silver traded down 36.7 cents to $15.855. Another 
Major Economic Data Pending for the day  reason  why  gold  futures  are  lower  is  investors  aren't  particularly 
interested  in  perceived  riskier  assets  at  the  moment  and  there  has 
Data  Previous  Expectaion  been  little  buying  interest  in  the  physical  market  since  the  Chinese 
US New Home Sales  342K  354K  New Year. 
US Crude Oil Inventories  +3.1M  +1.8M   
  Gold Chart 
Trend Analysis  
 
Short term  Bearish 
Medium term  ‐ 
Long term  ‐ 
 
Resistance and Support Level(Gold) 
Resistance 3  16800 
Resistance 2  16736 
Resistance 1  16660 
Support 1  16500 
Support 2  16440 
Support 3  16385 
Resistance and Support Level(Silver) 
Resistance 3  25250 
 
 
Resistance 2  25108 
  
Resistance 1  25000 
Recommendations
Support 1  24650 
Support 2  24500 
 Gold April (close:16591) Sell in 16620‐16640 ranges sl‐16683 target 
16530,16500 
 
Support 3  24390 
  Ssssdsdsssfgffgfs 

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 Metals Buzz-Daily

Base Metals 
 
Commodity  Close  +/‐ Change  Base Metals News and Technical Outllook 
MCX Copper   328.80  ‐6.90  Copper  futures  extended  their  early  losses  Tuesday  after  a  weaker‐
MCX Zinc   101.55  ‐3.15 
than‐forecast  reading  on  U.S.  consumer  confidence  also  sent  stocks 
MCX Nickel   930.00  ‐11.50 
lower.  May  copper  contract  traded  down  9.10  cents  to  $3.2155  per 
MCX Aluminum   96.70  ‐1.10  pound on the Comex division of the New York Mercantile Exchange. 
MCX Lead   102.25  ‐4.10  The  metal  also  fell  in  overnight  trading,  and  research  notes  from 
NCDEX Steel   24350.00  ‐430.00  several analysts mainly tied this to gains by the U.S. dollar. This tends 
  to pressure copper by making it more expensive in other currencies. 
 
Trend Analysis  (Base Metals) 
Short term  Indecisive  Copper Chart 
Medium term  ‐ 
 
Long term  ‐ 
 
WEEKLY Resistance and Support Level(Copper) 
Resistance 3  338 
Resistance 2  335 
Resistance 1  332 
Support 1  323 
Support 2  320 
Support 3  317 
Weekly Resistance and Support Level (Nickle) 
Resistance 3  962 
Resistance 2  950 
Resistance 1  941 
Support 1  920      
Support 2  910 
 
Support 3  901 
Recommendations 
 
   
  MCX Copper Feb (Close 328.35) : Sell 331 sl‐334.70 target‐326. 
   
    
 
 
 
 
 
 

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 Metals Buzz-Daily

Energies 
 
 
Commodity  Close  +/‐ Change  Energies News and Technical Outllook 
NYMEX Crude Oil  $78.94  ‐1.37  Nymex  crude  extended  its  losses  after  disappointing  U.S.  consumer 
MCX Crude oil  3662.00  ‐37.00  confidence  data,  trading  back  towards  overnight  lows.  The  Conference 
NYMEX Natural Gas  $ 4.833  ‐0.062  Board  said  its  index  of  consumer  confidence  declined  to  46.0  in 
MCX Natural gas  223.20  ‐1.90  February,  far  below  the  54.8  expected  by  economists.  Prices  corrected 
  below  the  $80  a  barrel  level  as  participants  bagged  profits  from  oil's 
  recent rally of $9 a barrel, or nearly 13%, over the last nine sessions. The 
Trend Analysis  (Energies)  front‐month April contract on the New York Mercantile Exchange traded 
Short term  ‐  $1.37 lower at $78.94 a barrel. 
Medium term  Bullish (Crude)   
Long term  ‐  Crude Oil Chart 
 
Resistance and Support Level(Crude oil)      
Resistance 3  3735 
Resistance 2  3710 
Resistance 1  3685 
Support 1  3600 
Support 2  3580 
Support 3  3550 
 Resistance and Support Level(Natural Gas) 
Resistance 3  231 
Resistance 2  229 
Resistance 1  226 
Support 1  219 
Support 2  215 

 
Support 3  212 

Recommendations
 
Crude march (close:3657) buy only above 3690 sl‐3658 target‐3744. 

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 Metals Buzz-Daily

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