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Daily Newsletter Newsletter-Commodity

28/04/2011

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MARKET WRAP
Gold rallies ahead of Fed; silver recoups some losses Oil holds gains after Fed statement Copper inventories rise to 10-month high Copper cuts losses on U.S. data Fed keep interest rate near zero

Crude oil prices held gains in choppy trading on Wednesday after the Federal Reserve said it will keep U.S. interest rate at exceptionally low levels, a sign the central bank is in no hurry to tighten monetary policy. Gold rose for a second day on Wednesday, profiting from a weaker dollar, which came under pressure ahead of a U.S. Federal Reserve interest rate decision, while silver pared some of the previous day's slide.

ECONOMIC CALENDAR
Date Time Currency EUR EUR EUR USD USD USD USD USD USD Economic Data German Import Prices m/m French Consumer Spending m/m German Unemployment Change Advance GDP q/q Unemployment Claims Advance GDP Price Index q/q FOMC Member Duke Speaks Pending Home Sales m/m Natural Gas Storage 1.6% 38B 2.1% 47B Forecast Previous 1.0% 0.3% -33K 1.9% 392K 2.2% 1.1% 0.9% -55K 3.1% 403K 0.4% Thu 11:30am Apr 28 12:15pm 1:25pm 6:00pm 6:00pm 6:00pm 6:00pm 7:30pm 8:00pm

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TECHNICAL VIEW
GOLD(JUNE)
Trend Strategy
Resistance support
• Bullish • Buy on dips • R2 -22380 • R1 -22170 • S1 -21930 • S2 -21750

SILVER(MAY MAY)
Trend Strategy
Resistance support • Bullish • Buy on dips • R2 - 69900 • R1 - 68750 • S1 - 66850 • S2 - 65650

COPPER(APR)
Trend Strategy
Resistance support
• Consolidate • Buy on dips • R2 - 435 • R1 - 423 • S1 - 411 • S2 - 402

CRUDE(MAY MAY)
Trend Strategy
Resistance support
• Bullish • Buy on dips • R2 - 5170 • R1 - 5090 • S1 - 4955 • S2 - 4880

NATURALGAS(MAY) )
Trend Strategy
Resistance support
• Consolidate • Sell on high •R2 - 213 •R1 - 206 •S1 - 193 •S2 - 185

LEAD(APR) )
Trend Strategy
Resistance support • Consolidate • Buy on dips • R2 - 118.5 • R1 - 115.7 • S1 - 112.2 •S2 - 108.5

ZINC(APR)
Trend Strategy
Resistance support
• Consolidate • Sell on high •R2 - 103.8 •R1 - 101.5 •S1 - 97.7 •S2 - 94.5

NICKEL(APR R)
Trend Strategy
Resistance support • Consolidate • Buy on dips •R2 - 1217 •R1 - 1197 •S1 - 1153 •S2 - 1118

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ALUMINIUM(APR)
Trend Strategy
Resistance support • Consolidate • Buy on dips •R2 - 125.7 •R1 - 122.8 •S1 - 120.3 •S2 - 118.5

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