Daily Newsletter Newsletter-Commodity 21/04/2011
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MARKET WRAP Oil rallies above $124 on U.S. draw U.S. crude inventories fell 2.32 million barrels last week Gold set new record highs above $1,500 an ounce The dollar fell to a 15-month low against the euro Zinc stocks jump above 800,000 T Copper gains after U.S. housing data
Gold set new record highs above $1,500 an ounce on Wednesday, and other commodities rose as well, as lingering worries over U.S. fiscal health pounded the dollar and pushed investors toward alternative assets. Oil prices rallied 3 percent on Wednesday as U.S. crude oil inventories fell for the first time in seven weeks and the dollar weakened further, fueling investor appetite for riskier assets.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu 1:30pm Apr 21 6:00pm
EUR
German Ifo Business Climate
110.6
111.1
USD
Unemployment Claims
394K
412K
6:30pm
EUR
Belgium NBB Business Climate
5.9
6.2
7:30pm
USD
Philly Fed Manufacturing Index
37.1
43.4
7:30pm
USD
CB Leading Index m/m
0.3%
0.8%
7:30pm
USD
OFHEO HPI m/m
0.2%
-0.3%
8:00pm
USD
Natural Gas Storage
53B
28B
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TECHNICAL VIEW GOLD(JUNE) Trend Strategy
• Bullish • Buy on dips
SILVER(MAY MAY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -22180 • R1 -21970
Resistance
• R2 - 68550 • R1 - 67250
support
• S1 -21680 • S2 -21450
support
• S1 - 65350 • S2 - 64100
COPPER(APR) Trend Strategy
• Consolidate • Buy on dips
CRUDE(MAY MAY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 441 • R1 - 433
Resistance
• R2 - 5090 • R1 - 5010
support
• S1 - 419 • S2 - 411
support
• S1 - 4885 • S2 - 4810
NATURALGAS(APR) Trend Strategy
• Consolidate • Sell on high
LEAD(APR)) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 207 •R1 - 198
Resistance
• R2 - 121.5 • R1 - 118.8
support
•S1 - 183 •S2 - 171
support
• S1 - 115.8 •S2 - 112.5
ZINC(APR) Trend Strategy
• Consolidate • Sell on high
NICKEL(APR R) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 108.2 •R1 - 105.5
Resistance
•R2 - 1216 •R1 - 1187
support
•S1 - 102.3 •S2 - 99.5
support
•S1 - 1147 •S2 - 1105
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 123.8 •R1 - 121.5
support
•S1 - 119.3 •S2 - 116.5
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