Daily Newsletter Newsletter-Commodity 17/05/2011
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MARKET WRAP Gold steady as euro recovers Euro hits session high vs dlr Copper turned positive on Monday Oil dips on worries over world growth
Gold held steady on Monday as the euro lifted off seven-week lows, but the currency remained vulerable to uncertainty about indebted euro zone countries. The dollar earlier rose to a seven-week high against the euro. Copper turned positive on Monday, as the euro strengthened on expectations a meeting of European finance ministers will offer more clarity on euro zone debt aid,
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue All Day May 17 2:30pm
EUR
ECOFIN Meetings
EUR
2:30pm
EUR
German ZEW Economic Sentiment ZEW Economic Sentiment
6:00pm
USD
6:00pm
Forecast Previous
4.8
7.6
17.9
19.7
Building Permits
0.59M
0.59M
USD
Housing Starts
0.58M
0.55M
6:45pm
USD
Capacity Utilization Rate
77.7%
77.4%
6:45pm
USD
Industrial Production m/m
0.5%
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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 -22090
Resistance
• R2 - 55500 • R1 - 53850
support
• S1 -21720 • S2 -21450
support
• S1 - 51850 • S2 - 50200
COPPER(JUNE) Trend Strategy
• Consolidate • Sell on high
CRUDE(MAY MAY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 415 • R1 - 407
Resistance
• R2 - 4530 • R1 - 4465
support
• S1 - 393 • S2 - 385
support
• S1 - 4360 • S2 - 4270
NATURALGAS(MAY)) Trend Strategy
• Consolidate • Sell on high
LEAD(MAY MAY) Trend Strategy
• Bearish • Sell on high
Resistance
•R2 - 206 •R1 - 197
Resistance
• R2 - 108.5 • R1 - 105.3
support
•S1 - 187 •S2 - 179
support
• S1 - 101.8 •S2 - 97.5
ZINC(MAY) Trend Strategy
• Bearish • Sell on high
NICKEL(MAY MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 101.5 •R1 - 97.3
Resistance
•R2 - 1164 •R1 - 1125
support
•S1 - 94.5 •S2 - 91.8
support
•S1 - 1083 •S2 - 1048
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ALUMINIUM(MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 119.5 •R1 - 116.8
support
•S1 - 114.2 •S2 - 111.5
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