Daily Newsletter Newsletter-Commodity 05/01/2011
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MARKET WRAP U.S. crude oil futures prices fell $2 on Tuesday U.S. copper futures shed nearly 2 percent Gold tumbles nearly 2 pct Silver falls sharply from record high Euro fell against the dollar early in the day
U.S. copper futures shed nearly 2 percent of their value Tuesday morning, extending a retreat from the previous session's record peak . Gold tumbled more than 2 percent on Tuesday and was on track for its biggest one-day loss since early November as the dollar rose and investors opted for assets seen as higher risk. U.S. crude oil futures prices fell $2 on Tuesday in volatile trading after briefly paring losses on news that U.S. factory orders rose in November.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Jan 5
12:30am
USD
FOMC Meeting Minutes
2:30pm
EUR
Final Services PMI
53.7
53.7
3:30pm
EUR
Industrial New Orders m/m
1.3%
-4.2%
3:30pm
EUR
PPI m/m
0.3%
0.4%
6:00pm
USD
Challenger Job Cuts y/y
6:45pm
USD
101K
93K
8:30pm
USD
ADP Non-Farm Employment Change ISM Non-Manufacturing PMI
55.6
55.0
9:00pm
USD
Crude Oil Inventories
-1.4M
-1.3M
-3.3%
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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 -20890 • R1 -20680
Resistance
• R2 - 46900 • R1 - 46100
support
• S1 -20450 • S2 -20130
support
• S1 - 45150 • S2 - 44250
COPPER(FEB) Trend Strategy
• Bullish • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 456 • R1 - 447
Resistance
• R2 - 4160 • R1 - 4090
support
• S1 - 438 • S2 - 431
support
• S1 - 4020 • S2 - 3950
NATURALGAS(JAN) Trend Strategy
• Consolidate • Sell on high
LEAD(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 221 •R1 - 213
Resistance
• R2 - 120.3 • R1 - 117.3
support
•S1 - 205 •S2 - 197
support
• S1 - 114.5 •S2 - 111.8
ZINC(JAN) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JAN) NICKEL(JAN Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 114.7 •R1 - 112.4
Resistance
•R2 - 1175 •R1 - 1147
support
•S1 - 109.8 •S2 - 106.5
support
•S1 - 1119 •S2 - 1085
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ALUMINIUM(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 114.8 •R1 - 112.7
support
•S1 - 110.3 •S2 - 107.7
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