Daily Commodity Newsletter For The Investors -29/12/10

U.S. copper hits record high on dlr, supply fears | Dollar tumbles versus basket of currencies | U.S. gold pierces $1,400, surging over 1 percent

MARKET WRAP

U.S. copper hits record high on dlr, supply fears

Dollar tumbles versus basket of currencies

U.S. gold pierces $1,400, surging over 1 percent

Oil prices climb above $91/bbl

Silver up almost 1.75% after consolidation

U.S. crude prices rose above $91 a barrel, hovering just below a 26-month top hit in the previous session, supported by a weaker dollar and hopes that a major snow storm on the U.S. East Coast would stoke demand for heating oil. U.S. copper futures rumbled to a new record top in thin dealings on Tuesday, propped up by sharp falls in the dollar, a strong Chinese currency and threats of supply disruptions. U.S. gold futures vaulted over 1 percent to a session top of $1,400.60 an ounce on Tuesday, spurred by a weaker dollar and buying interest out of Asia. The dollar came under broad selling pressure, hitting an all-time low against the Swiss franc as the euro recovered against the greenback.

TECHNICAL VIEW

CH GOLD VIEW
TREND- CONSOLIDATE
STRATEGY- BUY ON DIPS
RES1-20790 RES2-20950
SUP1-20510 SUP2-20250

CH SILVER VIEW
TREND- CONSOLIDATE
STRATEGY- BUY ON DIPS
RES1-45750 RES2-46500
SUP1-44450 SUP2-43550

CH COPPER VIEW
TREND- BULLISH
STRATEGY- BUY ON DIPS
RES1-433 RES2-442
SUP1-423 SUP2-414

CH CRUDE VIEW
TREND- BULLISH
STRATEGY-BUY ON DIPS
RES1-4170 RES2-4250
SUP1-4110 SUP2-4030

CH NATURAL GAS VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGH
RES1- 193 RES2- 201
SUPP1- 183 SUPP2- 175

CH LEAD VIEW
TREND:- CONSOLIDATE
STRATEGY:- BUY ON DIPS
RES1- 111.9 RES2- 114.3
SUPP1- 109.3 SUPP2- 106.5

CH ZINC VIEW
TREND:- CONSOLIDATE
STRATEGY- SELL ON HIGH
RES1- 105.1 RES2- 107.5
SUPP1- 102.8 SUPP2- 98.5

CH NICKEL VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGH
RES1- 1097 RES2- 1118
SUPP1- 1068 SUPP2- 1045

CH ALUMINIUM VIEW
TREND:- CONSOLIDATE
STRATEGY:- BUY ON DIPS
RES1- 110.9 RES2- 113.8
SUPP1- 108.9 SUPP2- 106.7

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