Daily Newsletter Newsletter-Commodity 25/04/2011
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MARKET WRAP Shanghai copper edged up on Friday Gold steady below record, weak dollar supports LME market shut for holidays on April 22, 25 Spot silver rose to as high as $46.64 Crude oil sustain above 112$
Spot gold held steady on Friday in holiday-thinned trade, after hitting record highs in five consecutive sessions, supported by a weak dollar and a list of other supporting factors, including geopolitical uncertainties and inflation concerns. Shanghai copper edged up on Friday, tracking London's strength in the previous session on dollar weakness, supported by a rebound in copper imports from the February low.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon Apr 25
All Day
EUR
French Bank Holiday
All Day
EUR
German Bank Holiday
All Day
EUR
Italian Bank Holiday
7:30pm
USD
New Home Sales
Forecast Previous
280K
250K
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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 -22580 • R1 -22270
Resistance
• R2 - 75400 • R1 - 72350
support
• S1 -21980 • S2 -21650
support
• S1 - 69400 • S2 - 67700
COPPER(APR) Trend Strategy
• Consolidate • Buy on dips
CRUDE(MAY MAY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 445 • R1 - 437
Resistance
• R2 - 5190 • R1 - 5080
support
• S1 - 423 • S2 - 411
support
• S1 - 4935 • S2 - 4850
NATURALGAS(APR) Trend Strategy
• Consolidate • Sell on high
LEAD(APR)) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 213 •R1 - 205
Resistance
• R2 - 121.5 • R1 - 118.7
support
•S1 - 191 •S2 - 183
support
• S1 - 115.8 •S2 - 112.5
ZINC(APR) Trend Strategy
• Consolidate • Sell on high
NICKEL(APR R) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 108.2 •R1 - 105.5
Resistance
•R2 - 1255 •R1 - 1217
support
•S1 - 102.3 •S2 - 99.5
support
•S1 - 1183 •S2 - 1148
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ALUMINIUM(APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 125.7 •R1 - 123.2
support
•S1 - 120.3 •S2 - 118.5
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