Daily Newsletter Newsletter-Commodity 05/10/2010
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MARKET WRAP Gold near record highs Dollar lifts from 6-1/2 month lows vs the euro Oil rose to a two-month high on Monday Nickel consolidate near high Copper eases on firmer dollar
Gold prices firmed in Europe on Monday as investors continued to fret about the outlook for the dollar amid speculation of further U.S. monetary easing, but a slight rebound in the U.S. unit kept a lid on fresh gains. Oil rose to a two-month high on Monday, bounced from earlier losses, due to the strong Chinese economy and speculation of further monetary policy easing. Copper eased back on Monday, after touching a more than two-year peak in the previous session, as the dollar extended gains against the euro .
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Oct 5
12:30am
USD
Fed Chairman Bernanke Speaks
5:00am
USD
Fed Chairman Bernanke Speaks
1:30pm
EUR
Final Services PMI
53.6
53.6
2:30pm
EUR
Retail Sales m/m
0.2%
0.1%
7:30pm
USD
ISM Non-Manufacturing PMI
52.1
51.5
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19450 • R1 -19280
Resistance
• R2 - 34250 • R1 - 33380
support
• S1 -19070 • S2 -18850
support
• S1 - 32550 • S2 - 31580
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 372 • R1 - 365
Resistance
• R2 - 3790 • R1 - 3710
support
• S1 - 357 • S2 - 348
support
• S1 - 3620 • S2 - 3530
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 181 •R1 - 174
Resistance
• R2 - 106.3 • R1 - 103.5
support
•S1 - 165 •S2 - 157
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 - 1113 •R1 - 1085
support
•S1 - 98.3 •S2 - 95.5
support
•S1 - 1055 •S2 - 1021
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info@capitalheight.com Phone- (0731)4295950
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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