Daily Newsletter Newsletter-Commodity 03/01/2011
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MARKET WRAP Oil hits 26-month high to end 2010 up 15 pct Copper caps 2010 with run of records Silver is hottest commodity in all, rising 83 pct Gold hits 10th annual gain
Gold rose to within $10 of a record high on Friday, closing out an unprecedented tenth annual gain as the combination of a weaker dollar and global economic uncertainty seemed to pave the way higher next year. Copper concluded 2010 with a run of record highs, rising 2 percent on Friday as undimmed demand from China and the prospect of fresh fund investment had analysts pointing to further gains next year. Oil prices hit a 26-month high over $92 a barrel on Friday, closing the year up 15 percent on expectations that the economic recovery will drive demand growth next year and send prices into triple digits.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Mon All Day Jan 3 All Day
EUR
French Bank Holiday
EUR
German Bank Holiday
All Day
EUR
Italian Bank Holiday
2:30pm
EUR
Final Manufacturing PMI
56.9
56.8
8:30pm
USD
ISM Manufacturing PMI
57.1
56.6
8:30pm
USD
Construction Spending m/m
0.2%
0.7%
8:30pm
USD
ISM Manufacturing Prices
71.9
69.5
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TECHNICAL VIEW GOLD(FEB) Trend Strategy
• Consolidate • Buy on dips
SILVER(MAR MAR) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -21080 • R1 -20790
Resistance
• R2 - 47300 • R1 - 46550
support
• S1 -20650 • S2 -20430
support
• S1 - 45650 • S2 - 44850
COPPER(FEB) Trend Strategy
• Bullish • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 451 • R1 - 443
Resistance
• R2 - 4210 • R1 - 4130
support
• S1 - 431 • S2 - 423
support
• S1 - 4020 • S2 - 3950
NATURALGAS(JAN) Trend Strategy
• Consolidate • Sell on high
LEAD(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 209 •R1 - 201
Resistance
• R2 - 119.3 • R1 - 116.9
support
•S1 - 191 •S2 - 183
support
• S1 - 113.5 •S2 - 110.5
ZINC(JAN) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JAN) NICKEL(JAN Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.7 •R1 - 110.5
Resistance
•R2 - 1165 •R1 - 1127
support
•S1 - 107.8 •S2 - 104.5
support
•S1 - 1089 •S2 - 1057
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.8 •R1 - 111.9
support
•S1 - 108.9 •S2 - 106.7
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