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Daily Newsletter Newsletter-Commodity 27/10/2010

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MARKET WRAP Gold and silver recovers from early lows Oil slips towards $82 before U.S. stocks data Dollar slips V/S euro Copper at 27-month top on dollar weakness Lead and zinc hit 9-month tops on China shutdowns

Copper prices flagged on Tuesday as the dollar rose, retreating from a 27-month peak hit earlier and tracking choppy currency trading ahead of a key Federal Reserve meeting next week. The dollar rose against a basket of major currencies, given an extra lift after October consumer confidence data . Gold pared losses in Europe on Tuesday as a report showed U.S. consumer confidence rose slightly in October, while the dollar was broadly firm.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Wed Oct 27

2:00am

USD

FOMC Member Dudley Speaks

All Day

EUR

German Prelim CPI m/m

0.1%

-0.1%

1:30pm

EUR

M3 Money Supply y/y

1.4%

1.1%

1:30pm

EUR

Private Loans y/y

1.5%

1.2%

6:00pm

USD

Core Durable Goods Orders m/m

0.4%

1.7%

6:00pm

USD

Durable Goods Orders m/m

1.7%

-1.5%

7:30pm

USD

New Home Sales

301K

288K

8:00pm

USD

Crude Oil Inventories

1.1M

0.7M

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TECHNICAL VIEW GOLD(DEC) Trend Strategy

• Consolidate • Buy on dips

SILVER(DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -19950 • R1 -19620

Resistance

• R2 - 37150 • R1 - 36350

support

• S1 -19350 • S2 -19080

support

• S1 - 35550 • S2 - 34780

COPPER(NOV) Trend Strategy

• Bullish • Buy on dips

CRUDE(NOV) CRUDE(NOV Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 389 • R1 - 382

Resistance

• R2 - 3790 • R1 - 3720

support

• S1 - 375 • S2 - 367

support

• S1 - 3630 • S2 - 3525

NATURALGAS(OCT) Trend Strategy

• Bearish • Sell on high

LEAD(OCT)) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 161 •R1 - 153

Resistance

• R2 - 116.5 • R1 - 114.7

support

•S1 - 144 •S2 - 137

support

• S1 - 112.3 •S2 - 110.5

ZINC(OCT) Trend Strategy

• Bullish • Buy on dips

NICKEL(OCT) NICKEL(OCT Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 119.3 •R1 - 116.1

Resistance

•R2 - 1085 •R1 - 1065

support

•S1 - 113.3 •S2 - 110.5

support

•S1 - 1033 •S2 - 1005

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ALUMINIUM(OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.9 •R1 - 105.7

support

•S1 - 103.7 •S2 - 101.3

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