Daily Newsletter Newsletter-Commodity 12/05/2011
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MARKET WRAP Gold slides as firmer dollar The dollar pared earlier losses and rose against the euro Silver plunged almost 8% on Wednesday U.S. crude oil stocks rose 3.78 million barrels Crude oil falls below 100$ Copper fell to its lowest since December
Gold broke a three-day rally to fall on Wednesday, under pressure from a rebound in the dollar and a broad decline in other commodities. Oil fell across the board on Wednesday, led by a 6 percent fall in New York gasoline futures prices, as U.S. oil data showed an unexpected rise in stocks of the auto fuel and a sharp rise increase in crude inventories.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu May 12
6:00pm
USD
Core Retail Sales m/m
0.7%
0.8%
6:00pm
USD
PPI m/m
0.6%
0.7%
6:00pm
USD
Retail Sales m/m
0.5%
0.4%
6:00pm
USD
Unemployment Claims
430K
474K
6:00pm
USD
Core PPI m/m
0.2%
0.3%
7:30pm
USD
7:30pm
USD
Fed Chairman Bernanke Testifies Business Inventories m/m
0.8%
0.5%
8:00pm
USD
Natural Gas Storage
69B
72B
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TECHNICAL VIEW GOLD(JUNE) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 -22250 • R1 -22080
Resistance
• R2 - 57200 • R1 - 55550
support
• S1 -21760 • S2 -21450
support
• S1 - 52850 • S2 - 50350
COPPER(JUNE) Trend Strategy
• Consolidate • Sell on high
CRUDE(MAY MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 408 • R1 - 401
Resistance
• R2 - 4635 • R1 - 4565
support
• S1 - 385 • S2 - 378
support
• S1 - 4430 • S2 - 4240
NATURALGAS(MAY)) Trend Strategy
• Consolidate • Sell on high
LEAD(MAY MAY) Trend Strategy
• Bearish • Sell on high
Resistance
•R2 - 206 •R1 - 197
Resistance
• R2 - 107.5 • R1 - 104.3
support
•S1 - 183 •S2 - 175
support
• S1 - 100.3 •S2 - 97.5
ZINC(MAY) Trend Strategy
• Bearish • Sell on high
NICKEL(MAY MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 99.5 •R1 - 97.9
Resistance
•R2 - 1164 •R1 - 1125
support
•S1 - 94.5 •S2 - 91.8
support
•S1 - 1083 •S2 - 1048
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 119.5 •R1 - 117.4
support
•S1 - 115.3 •S2 - 112.5
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