Daily Newsletter Newsletter-Commodity 13/12/2010
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MARKET WRAP Oil slips on China rate hike worry China's crude oil imports jumped 22.1 percent last month Gold drops as China tightens, down 2 pct on week Copper near record high after China imports data Oil prices fell on Friday in choppy trading, finishing with a weekly loss as concerns that China's moves to cool inflation will curb energy demand. Despite reaching a 26-month high of $90.76 on Tuesday, for the week U.S. crude oil futures fell 1.57 percent. Oil rose 6.48 percent last week, its second straight weekly gain. Gold fell on Friday after China raised bank reserve requirements and investors took profits in bullion U.S. data showing rising consumer confidence and a shrinking trade gap. Copper rose near record highs on Friday on concerns about tight supplies and after strong Chinese import data boosted the demand outlook. China's imports of copper rose 28.5 percent to 351,597 tonnes in November, after a slump in October.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon Dec 13
5:31am
GBP
Rightmove HPI m/m
5:31am
GBP
BOE Quarterly Bulletin
3:00pm
GBP
PPI Input m/m
5:00pm
GBP
MPC Member Bean Speaks
Forecast Previous -3.2%
0.7%
2.1%
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TECHNICAL VIEW GOLD(FEB) Trend Strategy
• Consolidate • Buy on dips
SILVER(MAR MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -20890 • R1 -20630
Resistance
• R2 - 45350 • R1 - 44150
support
• S1 -20380 • S2 -20150
support
• S1 - 42850 • S2 - 41850
COPPER(FEB) Trend Strategy
• Bullish • Buy on dips
CRUDE(DEC)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 423 • R1 - 416
Resistance
• R2 - 4070 • R1 - 4010
support
• S1 - 405 • S2 - 397
support
• S1 - 3940 • S2 - 3850
NATURALGAS(DEC) Trend Strategy
• Consolidate • Sell on high
LEAD(DEC)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 213 •R1 - 205
Resistance
• R2 - 114.5 • R1 - 110.8
support
•S1 - 197 •S2 - 189
support
• S1 - 106.8 •S2 - 104.5
ZINC(DEC) Trend Strategy
• Consolidate • Sell on high
NICKEL(DEC) NICKEL(DEC Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 107.5 •R1 - 104.7
Resistance
•R2 - 1145 •R1 - 1105
support
•S1 - 101.8 •S2 - 98.5
support
•S1 - 1065 •S2 - 1033
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 107.5 •R1 - 105.3
support
•S1 - 103.2 •S2 - 100.7
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