Gold Pivot Points Weekly – 22nd Mar10 to 26th Mar10

Gold Pivot Points Weekly – 22nd Mar10 to 26th Mar10
3/22/10 2:05 PM
W High	W Low	W Close	W Open
1133.90	1101.00	1107.60	1108.00
Formula #1: PWH + L + C
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1015.47	1048.37	1081.27	1094.43	1114.17	1127.33	1147.07	1179.97	1212.87
Formula #2: PWH + L + T O
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1015.60	1048.50	1081.40	1094.70	1114.30	1127.60	1147.20	1180.10	1213.00
Formula #3: PWH + L + C + T O
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1013.93	1046.83	1079.73	1091.35	1112.63	1124.25	1145.53	1178.43	1211.325

Market update 18 Mar 10

Gold Technical Report 12 Mar 2010

Gold Spot Daily – 12 March 2010

Gold has plunged about $20 this week twice from resistance range of $1145-$1150 on rising dollar and concern over Greek issue has been resolved. However, still gold managed to stay above $1100 level, which has not yet bruised the Daily support channel, closing below $1100 couple of times may take it to channel bottom @ $1073 for support.

Gold Apr10 Daily Chart

We can see a triangle break out above in the daily chart that support exists in the range of $1088-$1073. Only close below $1060 will be bearish.

Gold Apr10 Weekly Chart

Gold fail to cross last week high @ $1145.8 and plunge to $1100 level but today’s closing is important as its last day of the week. Bull still has an advantage if gold managed to close above $1120, which is closing for the month of Feb10. However, if gold fail to stay and close above $1120 and breaks below 1100 may take it to the support range of $1073-$1088.

Gold Apr10 Monthly Chart

On Monthly chart Gold look strong until it’s gives close below $1083 (closing for the month of Jan10), Bull still has an advantage until gold stays above $1118 (closing for the month Feb10) with volume of about 3m+.

Gold Spot Monthly Chart

This cyclical Gold chart suggests that gold should make the bottom in next 2-3 months, as per chart gold has 22 to 24 months bull trend cycles after which it has been corrected for 6-8 months in the past. In current scenario gold has corrected about $182 ($1044.5 bottom in Feb 2010) which is equal to 2006 corrections of $187 (6 month). 16 Mar 2010 – Fed Interest rate and policy decision will determine the gold trend, where their gold will extend the correction by $349 (8 months equals to 2008 correction) or the gold has already made the bottom @ $1044.5 (The RBI buying level & Feb 2010 bottom).

Gold History Repeat

Historical chart comparison shows that if Fed does not come out with stronger policy and fed rate rise (which is not possible at the moment as per last economy data’s), gold still has an advantage to spring up from this level until it stays above $1100 level.

Gold History Repeat – Mar to May 2010

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MARKET UPDATE 8 MAR 2010

GOLD Pivot Points Weekly – 8th to 12th Mar 2010

GOLD Pivot Points Weekly – 8th Mar to 12th Mar 2010
3/8/10 1:53 PM
W High	W Low	W Close	W Open
1145.30	1112.10	1135.20	1136.00
Formula #1: PWH + L + C
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1031.27	1064.47	1097.67	1116.43	1130.87	1149.63	1164.07	1197.27	1230.47
Formula #2: PWH + L + T O
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1031.53	1064.73	1097.93	1116.97	1131.13	1150.17	1164.33	1197.53	1230.73
Formula #3: PWH + L + C + T O
S4	S3	S2	S1	Pivot	R1	R2	R3	R4
1032.55	1065.75	1098.95	1119.00	1132.15	1152.20	1165.35	1198.55	1231.75

Economic Calendar – 8th to 12th Mar 2010

Economic Calendar – 8th to 12th Mar 2010

TIME (ET)	REPORT	PERIOD	ACTUAL	CONSENSUS FORECAST	PREVIOUS
MONDAY, MARCH 8
None scheduled
TUESDAY, MARCH 9
None scheduled
WEDNESDAY, MARCH 10
10 am	Wholesale inventories	Jan.	N/A	-0.8%
2 pm	Federal budget statement	Feb.	N/A	-$194 bln
THURSDAY, MARCH 11
8:30 am	Jobless claims	3/6	460,000	469,000
8:30 am	Trade balance	Jan.	-$41.0 bln	-$40.2 bln
FRIDAY, MARCH 12
8:30 am	Retail sales	Feb.	0.0%	0.5%
8:30 am	Retail sales ex-autos	Feb.	0.2%	0.6%
10 am	Consumer sentiment	March	73.5	73.6
10 am	Inventories	Jan.	0.1%	-0.2%

Non-farm Payrolls data Estimates

Source Bureau of Labor Statistics (latest release) Measures Change in the number of employed people during the previous month, excluding the farming industry; Usual Effect Actual > Forecast = Good for currency (In current scenario Actual>Forecast=Bad for currency – as data are in negative); Frequency Released monthly, usually on the first Friday after the month ends; Next Release Apr 2, 2010 FF Notes This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts; Why Traders
Care Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity; Also Called Non-Farm Payrolls, NFP, Employment Change;

Market Update – 3 Mar 10

04/03/2010 14:28
** P D HIGH = Previous Day High, P D LOW = Previous Day Low, P CLOSE = Previous Day Close
IF "COMMODITY" & "+ / -" BOTH COLOMN ARE IN "RED" = BEARISH & IF "GREEN" = BULLISH
** SELL Signal = If price close below PIVOT POINT or Previous Day Low ** BUY Signal = If price close above PIVOT POINT or Previous Day High
S = Support , R = Resistance
COMEX
COMMODITY	P D HIGH	P D LOW	CURRENT	S4	S3	S2	S1	PIOVT	R1	R2	R3	R4	+ / –
GOLD APR 10	1145.80	1132.80	1136.10	1101.43	1114.43	1127.43	1135.05	1140.43	1148.05	1153.43	1166.43	1179.43	0.00
SILVER MAR 10	17.37	16.89	17.14	15.74	16.22	16.71	17.02	17.19	17.50	17.68	18.16	18.65	0.00
CRUDE MAR 09	81.23	79.44	80.56	75.27	77.06	78.85	80.04	80.64	81.84	82.43	84.22	86.01	0.00
LME
COPPER 3 M	7634.00	7373.75	7580.00	6733.69	6993.94	7254.19	7394.88	7514.44	7655.13	7774.69	8034.94	8295.19	0.00
NICKEL 3 M	22943.00	21830.00	22845.00	19105.50	20218.50	21331.50	21946.00	22444.50	23059.00	23557.50	24670.50	25783.50	0.00
TIN 3 M	17500.00	17000.00	17350.00	15725.00	16225.00	16725.00	16950.00	17225.00	17450.00	17725.00	18225.00	18725.00	0.00
CURRENCIES
USDINR	45.9139	45.6050	45.8162	44.8018	45.1107	45.4196	45.5431	45.7285	45.8520	46.0374	46.3463	46.6552	0.0000
USDSGD	1.4038	1.3988	1.3999	1.3853	1.3903	1.3953	1.3967	1.4003	1.4017	1.4053	1.4103	1.4153	0.0000
EURUSD	1.3736	1.3590	1.3669	1.3251	1.3397	1.3543	1.3643	1.3689	1.3789	1.3835	1.3981	1.4127	0.0000
GBPUSD	1.5127	1.4942	1.5060	1.4523	1.4708	1.4893	1.5030	1.5078	1.5215	1.5263	1.5448	1.5633	0.0000
SGDINR	32.8165	32.5075	32.7250	31.7223	32.0313	32.3403	32.4821	32.6493	32.7911	32.9583	33.2673	33.5763	0.0000
ASIAN & AMERICAN MARKETS
BSE	17012.61	16803.64	16933.33	16330.66	16539.63	16748.60	16902.54	16957.57	17111.51	17166.54	17375.51	17584.48	0.00
NSE	5093.25	5015.10	5062.25	4838.90	4917.05	4995.20	5053.45	5073.35	5131.60	5151.50	5229.65	5307.80	0.00
STRAITS TIMES	2786.50	2767.64	2772.04	2724.73	2743.59	2762.45	2776.12	2781.31	2794.98	2800.17	2819.03	2837.89	0.00
HANG SENG	21016.29	20845.16	20766.25	20417.12	20588.25	20759.38	20844.74	20930.51	21015.87	21101.64	21272.77	21443.90	0.00
DOW	10469.54	10376.58	10396.76	10133.41	10226.37	10319.33	10355.04	10412.29	10448.00	10505.25	10598.21	10691.17	0.00
NASDAQ	2293.32	2275.25	2280.68	2229.31	2247.38	2265.45	2273.72	2283.52	2291.79	2301.59	2319.66	2337.73	0.00