Daily Newsletter Newsletter-Commodity 12/01/2011
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MARKET WRAP Gold steadied on Tuesday, as a late fall in the euro The euro slipped against the dollar Copper prices climbed on Tuesday U.S. oil prices climbed above $90 per barrel Zinc, lead consolidate near recent lows
Gold steadied on Tuesday, as a late fall in the euro tempered some of the gains in the dollar price derived from safe-haven flows stemming from deepening worries over the severity of the European debt crisis. U.S. oil prices climbed above $90 per barrel on Tuesday as a key Alaskan pipeline remained shut, removing more than half a million barrels per day from U.S. markets and on strong winter demand for North Sea crude. Copper prices climbed on Tuesday on earnings season optimism and expectations of improving 2011 demand, but lingering concerns over European debt.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed Jan 12
12:30am
USD
7:00pm
USD
FOMC Member Kocherlakota Speaks Import Prices m/m
7:00pm
USD
Treasury Sec Geithner Speaks
8:30pm
USD
9:00pm 11:30pm
Forecast Previous
1.3%
1.3%
IBD/TIPP Economic Optimism
47.1
45.8
USD
Crude Oil Inventories
0.4M
-4.2M
USD
FOMC Member Fisher Speaks
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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 - 46200 • R1 - 45450
support
• S1 -20250 • S2 -20030
support
• S1 - 44100 • S2 - 43450
COPPER(FEB) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JAN)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 446 • R1 - 439
Resistance
• R2 - 4230 • R1 - 4150
support
• S1 - 429 • S2 - 421
support
• S1 - 4070 • S2 - 3990
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 - 1148 •R1 - 1127
support
•S1 - 107.3 •S2 - 104.5
support
•S1 - 1098 •S2 - 1073
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ALUMINIUM(JAN) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 115.5 •R1 - 113.1
support
•S1 - 111.3 •S2 - 108.7
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