Daily Newsletter Newsletter-Commodity 13/09/2010
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MARKET WRAP Oil rises 3 pct to above $76 on U.S. supply outage Copper finished lower on Friday Copper, aluminum stockpiles continue decline Gold prices steadied below $1,250 an ounce Euro slips V/s Dollar Base metals down on friday
Gold prices steadied at moderately lower levels below $1,250 an ounce on Friday as the yen slid against the dollar and investors continued to unwind safe-haven plays made this week. Earlier this week, bullion touched its highest in two months, above $1,262 an ounce, on renewed worries about the European banking sector. A gold sale late Thursday by the International Monetary Fund gave the precious metal an underpinning. U.S. crude rose 3 percent to hit a four-week high above $76 a barrel on Friday following the shutdown of a major pipeline supplying Canadian oil to the United States and potential for an extended outage. Copper finished lower on Friday, suffering its first weekly decline in four weeks, as risk appetite waned and investors weighed mixed indicators of demand in China
ECONOMIC CALENDAR Date
Time
Mon 11:30pm Sep 13
Currency USD
Economic Data Federal Budget Balance
Forecast Previous -109.0B
-165.0B
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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 -19180 • R1 -19050
Resistance
• R2 - 32380 • R1 - 31650
support
• S1 -18780 • S2 -18550
support
• S1 - 31050 • S2 - 30380
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 363 • R1 - 355
Resistance
• R2 - 3680 • R1 - 3610
support
• S1 - 346 • S2 - 338
support
• S1 - 3490 • S2 - 3410
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on higher
LEAD(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 193 •R1 - 185
Resistance
• R2 - 103.8 • R1 - 101.5
support
•S1 - 176 •S2 - 167
support
• S1 - 98.3 •S2 - 96.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 102.7 •R1 - 99.2
Resistance
•R2 - 1079 •R1 - 1055
support
•S1 - 96.4 •S2 - 93.5
support
•S1 - 1027 •S2 - 995
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 101.5 •R1 - 98.7
support
•S1 - 96.2 •S2 - 93.5
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