Daily Newsletter Newsletter-Commodity 16/09/2010
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MARKET WRAP Gold consolidate near record highs above $1,274 Wall Street advanced on Wednesday Oil falls below $76 Euro up V/s Dollar Nickel hits new high of Week on week basis
Gold was steady on Wednesday, after having touched an all-time high earlier in the week, and economic recovery concerns stemming from weak U.S. economic data are likely to lend support to the metal. Oil fell for a third day on Wednesday after Enbridge said U.S. regulators have agreed to a Friday restart of the company's biggest pipeline from Canada, restoring crude supplies to Midwest refiners.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Sep 16
6:00pm
USD
PPI m/m
0.3%
0.2%
6:00pm
USD
Unemployment Claims
463K
451K
6:00pm
USD
Core PPI m/m
0.1%
0.3%
6:00pm
USD
Current Account
-124B
-109B
6:30pm
USD
TIC Long-Term Purchases
37.9B
44.4B
7:30pm
USD
Philly Fed Manufacturing Index
0.9
-7.7
7:30pm
USD
Treasury Sec Geithner Speaks
11:30pm
USD
Treasury Sec Geithner Speaks
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -19480 • R1 -19250
Resistance
• R2 - 32950 • R1 - 32280
support
• S1 -19040 • S2 -18850
support
• S1 - 31650 • S2 - 30880
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 363 • R1 - 357
Resistance
• R2 - 3650 • R1 - 3570
support
• S1 - 351 • S2 - 343
support
• S1 - 3470 • S2 - 3350
NATURALGAS(SEP) Trend Strategy
• Consolidate • Buy on dips
LEAD(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 195 •R1 - 188
Resistance
• R2 - 105.8 • R1 - 103.5
support
•S1 - 178 •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 - 1083
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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