Daily Newsletter Newsletter-Commodity 13/10/2010
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MARKET WRAP Gold dips as dollar rises ahead of Fed minutes Biggest gold ETF sees further outflow Copper reversed early losses Zinc, aluminium, lead hit highest since April Dollar turns higher v/s Euro
Gold eased in Europe on Tuesday as the dollar recovered on the back of uncertainty over the extent of quantitative easing expected from U.S. authorities, denting interest in the metal as a haven from weak currencies. Copper dipped on Tuesday as a recovering dollar capped recent bullish momentum ahead of fresh insight into the U.S. central bank's thinking on further monetary easing. Oil prices slipped for a second day on Tuesday, falling towards $82 a barrel after Saudi Arabia signalled OPEC would maintain current production levels
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Oct 13
11:00am
EUR
French CPI m/m
0.2%
0.2%
2:30pm
EUR
Industrial Production m/m
0.7%
0.1%
6:00pm
USD
Import Prices m/m
-0.1%
0.6%
13th-15th
USD
Federal Budget Balance
-52.3B
-90.5B
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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 -19970 • R1 -19720
Resistance
• R2 - 35800 • R1 - 35100
support
• S1 -19470 • S2 -19150
support
• S1 - 34350 • S2 - 33680
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 385 • R1 - 375
Resistance
• R2 - 3790 • R1 - 3710
support
• S1 - 367 • S2 - 357
support
• S1 - 3610 • S2 - 3530
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 175 •R1 - 166
Resistance
• R2 - 107.8 • R1 - 105.2
support
•S1 - 158 •S2 - 147
support
• S1 - 103.2 •S2 - 100.5
ZINC(OCT) Trend Strategy
• Consolidate • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 108.5 •R1 - 105.5
Resistance
•R2 - 1133 •R1 - 1105
support
•S1 - 103.2 •S2 - 100.5
support
•S1 - 1065 •S2 - 1041
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 109.5 •R1 - 107.8
support
•S1 - 105.3 •S2 - 103.5
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