Daily Commodity Market Update as on Friday, May 20, 2011

GOLD
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL JUNE 21950 22010 21860 21820

What make market to move……

# Gold trading range is 21745-22035.

# Gold fell after release of weak U.S. housing and manufacturing data

# Gold looks to take support at 21814 and resistance at 21959.

# In spot gold looks to take support at 1484$ and resistance is at 1508$ level.

# Gold / Silver ratio is at 42.54. Yesterday Gold FIX $ has closed higher at : 1493

SILVER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SILVER STILL LOOKING WEAK TODAY CAN TEST 52560-51500 LEVEL

What make market to move……

# Silver trading range is 51751-54959.

# Silver dropped as uncertainty about end of Fed Res's bond-buying program dragged down commodities

# Silver is having resistance at 54043 and support at 52439 level.

# Holdings at ishares silver trust fell by 242.70 tonnes to 10203.73 tonnes

# Silver $ FIX is at : 35.75 & CURRENTLY SILVER $ IS TRADING AT : 35.14 & UP BY 0.51%

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 CRUDE
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL JUNE 4510 4556 4470 4425

What make market to move……

# Crude trading range is 4404-4618.

# Crude fell as disappointing economic data fueled worries about oil demand

# Crude looks to test support at 4447 and resistance is seen at 4554.

# IEA raised the possibility of releasing emergency stockpiles to cool prices if supply not increased

# Crude $ is Trading at : 99.46$

COPPER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL JUNE 409 412.5 405.5 401.5

What make market to move……

# Copper trading range is 399.3-415.5.

# Copper's losses accelerated after data showed a slowdown in manufacturing growth in the U.S

# Copper is taking resistance at 410.30 and support is seen at 402.20.

# Copper daily stocks at Shanghai exchange came down by 1922 tonnes

# YESTERDAY LME STOCK FOR COPPER CAME Down BY -775

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 NAT.GAS
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL MAY 187 190.5 185 182.5

What make market to move……

# Natural Gas trading range is 181.3-191.5.

# Natural gas slid after largest weekly inventory build so far this year added pressure to well-supplied market.

# Natural gas looks to test support at 183.20 and resistance is seen at 188.30.

# Energy Information Administration said U.S. gas stockpiles rose by 92 billion cubic feet last week

# NATURAL GAS $ IS TRADING AT : 4.106$

Oil prices recovered on Friday as traders saw the previous session's dip as an opportunity to snap up cargoes amid expectations
that concerns over supply disruption from the Middle East would continue to support the market.

Gold regained strength on bargain hunting on Friday, while silver steadied after discouraging U.S. housing and factory data
weighed on commodities in the previous session.

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