Daily Newsletter Newsletter-Commodity 09/09/2010
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MARKET WRAP Oil rises above $74 on strong U.S. equities Silver climbs to fresh 2-1/2 yr high Gold nears record as economy bears circle markets Copper erases losses as equities rise
Gold rose for a third day on Wednesday to within reach of another record high and silver hit a 2-1/2 year peak as the waves of nervousness over the global economy steered investors into perceived safe-haven assets. Copper traded flat on Wednesday as global growth jitters and concerns about the health of the European banking system offset falling inventories. Oil inched down to around $74 a barrel on Wednesday following two sessions of declines as gains in European equity markets helped pare losses.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu 12:30am Sep 9 11:00am
USD
Consumer Credit m/m
-4.2B
-1.3B
EUR
French Final Non-Farm Payrolls q/q
0.2%
0.2%
11:30am
EUR
German Final CPI m/m
0.0%
0.0%
1:30pm
EUR
ECB Monthly Bulletin
6:00pm
USD
Trade Balance
-47.4B
-49.9B
6:00pm
USD
Unemployment Claims
470K
472K
8:00pm
USD
Natural Gas Storage
51B
54B
8:30pm
USD
Crude Oil Inventories
0.7M
3.4M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19480 • R1 -19250
Resistance
• R2 - 32380 • R1 - 31750
support
• S1 -19030 • S2 -18850
support
• S1 - 31250 • S2 - 30380
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 371 • R1 - 363
Resistance
• R2 - 3580 • R1 - 3510
support
• S1 - 354 • S2 - 347
support
• S1 - 3410 • S2 - 3330
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on higher
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 193 •R1 - 185
Resistance
• R2 - 106.5 • R1 - 103.8
support
•S1 - 178 •S2 - 167
support
• S1 - 101.3 •S2 - 97.8
ZINC(SEP) Trend Strategy
• Consolidate • Buy on dips
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.7 •R1 - 103.5
Resistance
•R2 - 1115 •R1 - 1083
support
•S1 - 100.7 •S2 - 97.5
support
•S1 - 1047 •S2 - 1016
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 104.5 •R1 - 101.7
support
•S1 - 99.2 •S2 - 97.5
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