Daily Newsletter Newsletter-Commodity 01/10/2010
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MARKET WRAP Gold hits 10th record peak in 12 days and falls Silver climbs to 30-year peak Oil tops $79 after US jobless New US jobless claims fall, Q2 growth revised up Copper dips on China property
Copper eased on Thursday as moves by top metals consumer China to curb property prices prompted profit taking, although losses were limited by dollar weakness and better-than forecast U.S. data. Oil topped $79 a barrel, hitting a fresh seven-week high on Thursday after data in the United States offered hope for a pick-up in economic activity in the world's largest economy.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri 12:00am Oct 1 6:00pm
USD
Fed Chairman Bernanke Speaks
USD
Core PCE Price Index m/m
0.1%
0.1%
6:00pm
USD
Personal Spending m/m
0.4%
0.4%
6:00pm
USD
Personal Income m/m
0.3%
0.2%
7:25pm
USD
67.1
66.6
7:25pm
USD
7:30pm
USD
Revised UoM Consumer Sentiment Revised UoM Inflation Expectations ISM Manufacturing PMI
7:30pm
USD
Construction Spending m/m
7:30pm
USD
ISM Manufacturing Prices
2.2% 54.6
56.3
-0.4%
-1.0%
59.6
61.5
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19480 • R1 -19250
Resistance
• R2 - 34250 • R1 - 33380
support
• S1 -18950 • S2 -18730
support
• S1 - 32550 • S2 - 31580
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 372 • R1 - 364
Resistance
• R2 - 3650 • R1 - 3580
support
• S1 - 357 • S2 - 348
support
• S1 - 3510 • S2 - 3430
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 193 •R1 - 181
Resistance
• R2 - 106.3 • R1 - 103.5
support
•S1 - 172 •S2 - 165
support
• S1 - 100.5 •S2 - 97.8
ZINC(OCT) Trend Strategy
• Consolidate • Sell on higher
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 102.5 •R1 - 100.5
Resistance
•R2 - 1093 •R1 - 1065
support
•S1 - 98.3 •S2 - 95.5
support
•S1 - 1025 •S2 - 995
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 107.8 •R1 - 105.5
support
•S1 - 103.5 •S2 - 100.7
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