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DAILY MCX NEWSLETTER

04 - MAR.-2014

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BULLION:
Gold held near its strongest level in four months on Tuesday after Russia's military intervention in Ukraine prompted safe-haven buyer as investors ditched assets perceived as riskier such as equities. Spot gold was little changed at $1,349.96/ounce. Spot gold's target revised to $1,320-technicals * Coming Up: U.S. Pending homes sales; 1500 GMT (Updates prices) By Lewa Pardomuan SINGAPORE, Feb 28 - Gold was little changed on Friday but was on track for its biggest monthly gain since July after investors and speculators chased prices higher on concerns about the pace of the U.S. economy and unrest in Ukraine. Recent gains, though, may be hard to sustain in the absence of strong physical buying. And expectations

BASE METAL:
Copper struggled and ended near the lowest in more than two months after concerns over China's slowing growth. The recent weakness of the Yuan may reduce demand for the metal, both from commercial buyers and those using the metal to obtain finance from sources other than regular banks from which lending has become much more difficult to obtain.

ENERGY:
The energy sector was mixed, with natural gas receiving much of the attention considering the extreme volatility witnessed during February. In the end, the price ended up almost unchanged on the month but not before jumping by more than one quarter and then collapsing the most it has ever done in one week since 1996. WTI Crude received support from the unseasonable cold weather, which raised refinery demand above the seasonal norm. Improved pipeline infrastructure from the US Midwest to the Gulf of Mexico led to a 14 percent reduction in inventories at Cushing, the delivery hub for WTI Crude futures in New York, and this supported the relative outperformance over Brent with the spread narrowing by more than USD.

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BULLION

GOLD (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 30670, 30800 : - 30480, 30300 : - BUY ON DIPS

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 47380, 47500 : - 46950, 46700 : - BUY ON DIPS

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ENERGY

CRUDEOIL (19 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6550, 6600 : - 6450, 6400 : - BUY ON DIPS

NATURAL GAS (26 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 290.00, 300.00 : - 280.00, 275.00 : - SELL ON HIGH

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BASE METAL

COPPER (30 APR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 442.00, 445.00 : - 438.00, 435.00 : - SELL ON HIGH

LEAD (31 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 132.00, 133.00 : - 130.50, 129.50 : - SELL ON HIGH

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ZINC (31 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 130.50, 131.50 : - 128.50, 127.50 : - SELL ON HIGH

ALUMINUM (31 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 106.50, 107.50 : - 105.50, 104.50 : - SELL ON HIGH

NICKEL (31 MAR.)


OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 915.00, 925.00 : - 900.00, 885.00 : - SELL ON HIGH

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GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM

1348.96 21.408 3.170 104.68 747.20 1451.10

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.4400 01.3728 101.593 00.8839 01.6655 01.1096

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