Daily Newsletter Newsletter-Commodity 14/10/2010
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MARKET WRAP Gold surged to a record high near $1,375 Copper hits new 27-month top Oil edged up towards $83 on Wednesday Zinc, aluminium, lead hit highest since April Dollar turns down v/s Euro
Gold surged to a record high near $1,375 an ounce on Wednesday and silver hit a 30year peak after the Federal Reserve signaled the U.S. economy may need extra stimulus, which hit the dollar. Copper rose on Wednesday to a fresh more-than-two-year high, buoyed by dollar weakness and expectations of renewed stimulus measures in the United States, the world's largest economy.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Thu Oct 14
1:40am
USD
Fed Chairman Bernanke Speaks
All Day
ALL
OPEC Meetings
6:00pm
USD
PPI m/m
6:00pm
USD
Trade Balance
6:00pm
USD
6:00pm
Forecast Previous
0.2%
0.4%
-43.5B
-42.8B
Unemployment Claims
448K
445K
USD
Core PPI m/m
0.1%
0.1%
8:00pm
USD
Natural Gas Storage
88B
85B
8:30pm
USD
Crude Oil Inventories
1.5M
3.1M
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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 -20150 • R1 -19970
Resistance
• R2 - 36800 • R1 - 36100
support
• S1 -19670 • S2 -19350
support
• S1 - 35350 • S2 - 34680
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 385 • R1 - 377
Resistance
• R2 - 3790 • R1 - 3710
support
• S1 - 369 • S2 - 361
support
• S1 - 3610 • S2 - 3530
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 177 •R1 - 169
Resistance
• R2 - 110.5 • R1 - 107.8
support
•S1 - 159 •S2 - 147
support
• S1 - 105.5 •S2 - 103.3
ZINC(OCT) Trend Strategy
• Consolidate • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 109.8 •R1 - 107.5
Resistance
•R2 - 1133 •R1 - 1105
support
•S1 - 104.2 •S2 - 101.5
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 - 107.9
support
•S1 - 105.3 •S2 - 103.5
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