Daily Commodity Market Update as on Friday, April 29, 2011

GOLD
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY JUNE 22200 22140 22280 22340

What make market to move……

# Gold trading range is 22052-22464.

# Gold jumped to all-time high after data showed that U.S. economy slowed significantly since the end of 2010

# Gold looks to take support at 22168 and resistance at 22374.

# In spot gold looks to take support at 1520$ and resistance at 1545$ level.

# Gold / Silver ratio is at 31.7. Yesterday Gold FIX $ has closed higher at : 1535.5

SILVER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY MAY ABV 71750 71250 72200 72650

What make market to move……

# Silver trading range is 66460-75160.

# Silver soared to all-time high as $ fell and as signs that Fed would maintain loose monetary policy

# Silver is having resistance at 73120 and support at 68770 level.

# In spot silver is getting resistance at 48.74$ and support is at 47.96$ level.

# Silver $ FIX is at : 48.7 & CURRENTLY SILVER $ IS TRADING AT : 48.32 & DOWN BY -0.29%

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 CRUDE
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY MAY 4980 4950 5040 5090

What make market to move……

# Crude trading range is 4932-5126.

# Crude ended weak but recovered some of its losses as dollar attracts investors seeking alternative assets.

# Crude looks to test support at 4972 and resistance is seen at 5069.

# EIA reported U.S. oil demand in February was 762,000 barrels per day less than previously estimated

# Crude $ is Trading at : 112.47$

COPPER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL JUNE 425 429 420.5 416.5

What make market to move……

# Copper trading range is 415.9-431.2.

# Copper erased earlier gains to end easier influenced by slowing economic conditions in the U.S.

# Copper is taking resistance at 427.30 and support is seen at 419.60.

# Copper daily stocks at Shanghai exchange came down by 699 tonnes.

# YESTERDAY LME STOCK FOR COPPER CAME Up BY 150

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 NAT.GAS
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY MAY 201 198 204.5 207.5

What make market to move……

# Natural Gas trading range is 193.9-211.9.

# Natural gas ended higher after EIA said natural gas inventories rose less-than-expected last week

# Natural gas looks to test support at 199.80 and resistance is seen at 208.80.

# EIA said that natural gas storage in the U.S. in the week ended April 22 rose by 31bcf

# NATURAL GAS $ IS TRADING AT : 4.568$

Copper erased earlier gains to end easier on Thursday, influenced by slowing economic conditions in the U.S. that underscored
the bearish sentiment surrounding demand prospects at the start of the year.

Crude fell on Friday, after settling at a 31-month high in the previous session, on concerns that slowing growth in top consumer
United States may pare demand, but a weaker dollar and unrest in the Middle East helped stem a slide in prices.

Silver and gold were within sight of historic highs on Friday and could resume an uptrend as the dollar held near three-year lows
against a basket of currencies on the Federal Reserve's intention to keep interest rates near zero.

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