Daily Newsletter Newsletter-Commodity 11/01/2011
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MARKET WRAP Gold rises above $1,370/oz Dollar turns lower versus currency basket Copper down as EU debt worries Oil jumps 2.2 pct on Alaska pipeline leak Zinc falls nearly 3 pct
Oil rose over 1 percent on Monday after a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output, but gains were capped by a stronger dollar due to worries about Portugal's debt. Gold rose above $1,370 an ounce on Monday as the dollar moved into negative territory versus the euro, and as concerns over the outlook for Portugal's sovereign debt lifted the metal's appeal as a haven from risk. Copper fell 1 percent on Monday, as investors worried about sovereign debt in Europe and a rising dollar made metals costlier for non-U.S. buyers, denting demand from top consumer China.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Jan 11
5:31am
GBP
BRC Retail Sales Monitor y/y
10:30am
JPY
Leading Indicators
7:00pm
USD
FOMC Member Plosser Speaks
8:30pm
USD
8:30pm
USD
Forecast Previous 0.7% 100.9%
97.2%
IBD/TIPP Economic Optimism
47.1
45.8
Wholesale Inventories m/m
1.1%
1.9%
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TECHNICAL VIEW GOLD(FEB) Trend Strategy
• Consolidate • Buy on dips
SILVER(MAR MAR) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -20890 • R1 -20580
Resistance
• R2 - 45600 • R1 - 44850
support
• S1 -20250 • S2 -20030
support
• S1 - 43500 • S2 - 42650
COPPER(FEB) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 446 • R1 - 438
Resistance
• R2 - 4170 • R1 - 4110
support
• S1 - 427 • S2 - 418
support
• S1 - 4020 • S2 - 3930
NATURALGAS(JAN) Trend Strategy
• Consolidate • Sell on high
LEAD(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 213 •R1 - 205
Resistance
• R2 - 123.5 • R1 - 120.1
support
•S1 - 193 •S2 - 186
support
• S1 - 116.9 •S2 - 113.5
ZINC(JAN) Trend Strategy
• Consolidate • Sell on high
NICKEL(JAN) NICKEL(JAN Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 113.5 •R1 - 110.2
Resistance
•R2 - 1125 •R1 - 1097
support
•S1 - 107.3 •S2 - 104.5
support
•S1 - 1073 •S2 - 1046
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 116.5 •R1 - 114.1
support
•S1 - 111.3 •S2 - 108.7
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