Daily Newsletter Newsletter-Commodity 16/11/2010
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MARKET WRAP Gold rises above $1,370/oz Dollar index rises, euro under pressure from debt worries Oil edges up after $3 slide Copper steady after early surrender Base metals recovers from early lows
Gold held near $1,370 an ounce on Monday, steadying after its biggest one-day fall since July 1 in the previous session, as concerns over euro zone sovereign debt levels offset pressure exerted by strength in the dollar. U.S. oil prices edged up on Monday, bouncing on expectations demand will firm after sliding sharply from a 25-month peak last week on concerns China may act to cool inflation and on continuing worries about Europe's economy and euro zone debt.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Nov 16
7:00pm
USD
PPI m/m
0.7%
0.4%
7:00pm
USD
Core PPI m/m
0.2%
0.1%
7:30pm
USD
TIC Long-Term Purchases
100.3B
128.7B
7:45pm
USD
Capacity Utilization Rate
74.9%
74.7%
7:45pm
USD
Industrial Production m/m
0.4%
-0.2%
16th-26th
USD
Mortgage Delinquencies
8:30pm
USD
NAHB Housing Market Index
9.85% 17
16
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -20550 • R1 -20280
Resistance
• R2 - 40950 • R1 - 40150
support
• S1 -20050 • S2 -19820
support
• S1 - 39100 • S2 - 37750
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 403 • R1 - 395
Resistance
• R2 - 3950 • R1 - 3880
support
• S1 - 385 • S2 - 377
support
• S1 - 3790 • S2 - 3710
NATURALGAS(NOV)) Trend Strategy
• Consolidate • Sell on high
LEAD(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 186 •R1 - 175
Resistance
• R2 - 116.8 • R1 - 113.6
support
•S1 - 167 •S2 - 161
support
• S1 - 108.7 •S2 - 105.5
ZINC(NOV) Trend Strategy
• Consolidate • Sell on high
NICKEL(NOV) NICKEL(NOV Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 109.5 •R1 - 106.8
Resistance
•R2 - 1063 •R1 - 1028
support
•S1 - 103.5 •S2 - 100.8
support
•S1 - 997 •S2 - 965
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ALUMINIUM(NOV) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 110.5 •R1 - 108.7
support
•S1 - 106.3 •S2 - 104.5
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