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Daily Newsletter Newsletter-Commodity

02/12/2010

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MARKET WRAP
Gold retreats but euro zone debt woes Euro recovers some lost ground Oil rallies above $85 on China manufacturing U.S. crude inventories unexpectedly rise Copper hits two-week high

Gold eased back towards $1,380 an ounce on Wednesday as some appetite for risk returned to the European equity, debt and currency markets, but remained firmly underpinned by persistent concerns over euro zone debt levels. Oil rose to above $85 a barrel on Wednesday as positive data from the United States and China, the world's top two oil consumers, boosted investor confidence about economic recovery. Copper rose to its highest level in two weeks on Wednesday due to data that showed growth in top consumer China as well as to a weak dollar.

ECONOMIC CALENDAR
Date Time Currency USD USD USD USD USD Economic Data Beige Book Unemployment Claims Pending Home Sales m/m Natural Gas Storage FOMC Member Bullard Speaks 425K -0.7% -26B 407K -1.8% -6B Forecast Previous Thu 12:30am Dec 2 7:00pm 8:30pm 9:00pm 11:00pm

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TECHNICAL VIEW
GOLD(FEB)
Trend Strategy
Resistance support
• Bullish • Buy on dips • R2 -21250 • R1 -20895 • S1 -20570 • S2 -20250

SILVER(MAR MAR)
Trend Strategy
Resistance support • Bullish • Buy on dips • R2 - 44750 • R1 - 43850 • S1 - 42850 • S2 - 41750

COPPER(FEB)
Trend Strategy
Resistance support
• Consolidate • Buy on dips • R2 - 405 • R1 - 397 • S1 - 386 • S2 - 377

CRUDE(DEC) )
Trend Strategy
Resistance support
• Consolidate • Buy on dips • R2 - 4030 • R1 - 3960 • S1 - 3870 • S2 - 3810

NATURALGAS(DEC)
Trend Strategy
Resistance support
• Consolidate • Sell on high •R2 - 207 •R1 - 198 •S1 - 189 •S2 - 181

LEAD(DEC) )
Trend Strategy
Resistance support • Consolidate • Buy on dips • R2 - 106.5 • R1 - 104.8 • S1 - 101.3 •S2 - 97.5

ZINC(DEC)
Trend Strategy
Resistance support
• Consolidate • Sell on high •R2 - 102.5 •R1 - 99.5 •S1 - 97.3 •S2 - 94.8

NICKEL(DEC) NICKEL(DEC
Trend Strategy
Resistance support • Consolidate • Sell on high •R2 - 1107 •R1 - 1080 •S1 - 1053 •S2 - 1025

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ALUMINIUM(DEC)
Trend Strategy
Resistance support • Consolidate • Buy on dips •R2 - 109.5 •R1 - 107.2 •S1 - 104.5 •S2 - 101.7

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