Daily Newsletter Newsletter-Commodity 14/09/2010
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MARKET WRAP Oil rose to a one-month high on Monday Copper rallies, China data boost demand prospects Gold prices steadied below $1,250 an ounce Euro up V/s Dollar Base metals recovers on recent lows LME copper stocks continue to fall
Oil rose to a one-month high on Monday, spurred by an extended shutdown of a major Canada-U.S. crude pipeline and strong Chinese demand growth and industrial output. Gold steadied on Monday, partly shrugging off the weight of positive investor sentiment stemming from a deal on global banking rules, upbeat Chinese data and a rally in risklinked assets.
ECONOMIC CALENDAR Date
Time
Currency
Tue 2:30pm Sep 14 2:30pm
EUR
Economic Data
Forecast Previous 10.7
14.0
EUR
German ZEW Economic Sentiment Industrial Production m/m
0.2%
-0.1%
2:30pm
EUR
ZEW Economic Sentiment
14.9
15.8
6:00pm
USD
Core Retail Sales m/m
0.3%
0.2%
6:00pm
USD
Retail Sales m/m
0.4%
0.4%
7:30pm
USD
Business Inventories m/m
0.5%
0.3%
8:30pm
EUR
Buba President Weber Speaks
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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 - 357
Resistance
• R2 - 3680 • R1 - 3610
support
• S1 - 352 • S2 - 344
support
• S1 - 3490 • S2 - 3410
NATURALGAS(SEP) Trend Strategy
• Consolidate • Buy on dips
LEAD(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 193 •R1 - 185
Resistance
• R2 - 105.8 • R1 - 103.5
support
•S1 - 176 •S2 - 167
support
• S1 - 100.3 •S2 - 98.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 102.7 •R1 - 100.5
Resistance
•R2 - 1110 •R1 - 1075
support
•S1 - 98.2 •S2 - 95.5
support
•S1 - 1052 •S2 - 1018
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 101.5 •R1 - 99.5
support
•S1 - 97.2 •S2 - 94.5
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