Daily Newsletter-Commodity 06/01/2015
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MARKET WRAP Gold held above $1,200 an ounce Silver for immediate delivery decreased 0.2 percent U.S. oil held losses after sliding below $50 Nickel retreated from the highest in more than a week. Copper traded near the lowest in more than four years Gold held above $1,200 an ounce after rallying for two days to the highest level in almost a week as slumping equity markets and concern that Greece may quit the euro area spurred demand for a haven. Silver for immediate delivery decreased 0.2 percent to $16.1511 an ounce, halting a two-day, 3.3 percent advance. U.S. oil held losses after sliding below $50 a barrel for the first time since April 2009 amid speculation rising global output will exacerbate a supply glut that’s driven prices into a bear market.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast
Previous
Tue Jan 6
All Day
EUR
Italian Bank Holiday
1:45pm
EUR
Spanish Services PMI
52.9
52.7
2:15pm
EUR
Italian Services PMI
51.4
51.8
2:30pm
EUR
Final Services PMI
51.9
51.9
8:15pm
USD
Final Services PMI
53.8
53.6
8:30pm
USD
ISM Non-Manufacturing PMI
58.2
59.3
USD
Factory Orders m/m
-0.3%
-0.7%
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TECHNICAL VIEW GOLD(FEB) Trend Strategy
• Consolidate • Sell on high
SILVER(MAR) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27480 • R1 - 27250
Resistance
• R2 - 38900 • R1 - 37850
support
• S1 - 26780 • S2 - 26550
support
• S1 - 36350 • S2 - 35380
COPPER(FEB) Trend Strategy
• Consolidate • Sell on high
CRUDE(JAN) Trend Strategy
• Bearish • Sell on high
Resistance
• R2 - 405 • R1 - 397
Resistance
• R2 - 3330 • R1 - 3250
support
• S1 - 385 • S2 - 377
support
• S1 - 3160 • S2 - 3070
NATURALGAS(JAN) Trend Strategy
• Bearish • Sell on high
LEAD(JAN) Trend
Strategy
• Bearish • Sell on high
Resistance
•R2 - 205 •R1 - 197
Resistance
• R2 - 119.5 • R1 - 117.7
support
•S1 - 183 •S2 - 175
support
• S1 - 113.8 •S2 - 111.5
ZINC(JAN) Trend Strategy
• Consolidate • Sell on high
NICKEL(JAN) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 142.3 •R1 - 139.5
Resistance
•R2 - 1015 •R1 - 983
support
•S1 - 134.8 •S2 - 132.5
support
•S1 - 932 •S2 - 915
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ALUMINIUM(JAN) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 119.5 •R1 - 117.7
support
•S1 - 113.7 •S2 - 111.5
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