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Daily Commodity Market Update as on Tuesday, March 22, 2011

GOLD
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY APR 20940 20870 20995 21080

What make market to move……

# Gold trading range is 20795-21121.


20795-21121

# Gold gained as intensified fighting in Libya and continuing nuclear crisis in Japan raised demand

# Gold looks to take support at 20874 and resistance at 21037.

# Spdr gold trust holdings fell by 10.62 tonnes to 1215.78 tonnes.

# Gold / Silver ratio is at 39.46. Yesterday Gold FIX $ has closed higher at : 1432

SILVER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY MAY 53850-880 53650 54080 54360

What make market to move……

# Silver trading range is 52883-54787.

# Silver prices rose on strong industrial demand and near-term supply tightness

# Silver is having resistance at 54424 and support at 53772 level.

# U.S. silver imports rose 55.6% in January from the previous month, and was up 66.0% from previous year

# Silver $ FIX is at : 36.16 & CURRENTLY SILVER $ IS TRADING AT : 36.18 & UP BY 0.17%

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CRUDE
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY APR 4620 4580 4674 4705

What make market to move……

# Crude trading range is 4609-4753.


4609-4753

# Crude oil ended up as air strikes in Libya and growing unrest in Middle East sparked worries about supply disruptions

# Crude looks to test support at 4637 and resistance is seen at 4709.

# China’s commercial crude oil stocks were down 2% at the end of February from a month earlier

# Crude $ is Trading at : 102.5$

COPPER
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

SELL MAY 432.5 437.5 428.5 422.5

What make market to move……

# Copper trading range is 420.3-440.4.

# Copper fell as concerns about the sustainability of the global economic recovery began to bite.

# Copper is taking resistance at 434.10 and support is seen at 424.10.

# Copper daily stocks at Shanghai exchange came down by 4353 tonnes.

# YESTERDAY LME STOCK FOR COPPER CAME Up BY 850

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NAT.GAS
NAT GAS
ACTION ENTRY STOPLOSS TARGET 1 TARGET 2

BUY MAR 186 182.5 190 194.5

What make market to move……

# Natural Gas trading range is 182.9-193.1.


182 9-193 1

# Natural gas ended flat after rising earlier in the day due to forecasts for colder-than-normal temperatures

# Natural gas looks to test support at 185.30 and resistance is seen at 190.40.

# A drop to the 800-to-850 rig range would be necessary to begin to balance the market.

# NATURAL GAS $ IS TRADING AT : 4.166$

Brent crude futures were steady near $115, supported by a spreading unrest in the Middle East, while uncertainty about demand
from the world's No. 3 consumer Japan capped gains.

Copper prices rallied in London, recouping some of the previous session's 1 percent loss, while Shanghai futures ticked up in light
trade, after fresh news of disruption to copper smelting following the Japan earthquake.Muammar Gaddafi to cease fire on rebels
and end attacks on civilians.
civilians

Japan will allow the release of an additional 22 days worth of crude oil from privately held reserves, the trade ministry said. The
trade ministry had already allowed the release of 1.26 million kilolitres from reserves, or three days worth of demand, last week.

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