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Daily Newsletter Newsletter-Commodity 17/01/2011

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MARKET WRAP Gold falls 1 pct after China's tightening Silver fell 1 percent Copper moves up with equities Base metals trading near recent high U.S. crude oil prices up marginally

Gold dropped 1 percent on Friday to notch its biggest two-week loss in nearly a year, after China tightened bank reserves to rein in inflation and as safe-haven demand faded on a better economic outlook. Earlier this week, Federal Reserve Chairman Ben Bernanke said the U.S. economy should grow around 3 to 4 percent this year, a healthier clip than in 2010. Copper made modest gains in London on Friday, but U.S. copper surged to near record levels as an improved U.S. economic outlook. Stocks of copper in London Metal Exchange fell 1,125 tonnes to 376,225 tonnes. Zinc closed at $2,457 from $2,462 a tonne while battery material lead was at $2,678 from $2,635 a tonne.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Mon Jan 17

5:31am

GBP

Rightmove HPI m/m

10:30am

JPY

Household Confidence

5:45pm

USD

FOMC Member Plosser Speaks

All Day

USD

Bank Holiday

Forecast Previous -3.0% 41.7

40.4

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info@capitalheight.com Phone- (0731)4295950

TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Consolidate • Sell on high

SILVER(MAR MAR) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 -20550 • R1 -20380

Resistance

• R2 - 44900 • R1 - 44350

support

• S1 -20150 • S2 -20030

support

• S1 - 43450 • S2 - 42750

COPPER(FEB) Trend Strategy

• Consolidate • Buy on dips

CRUDE(FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 459 • R1 - 451

Resistance

• R2 - 4330 • R1 - 4270

support

• S1 - 439 • S2 - 431

support

• S1 - 4180 • S2 - 4110

NATURALGAS(JAN) Trend Strategy

• Consolidate • Sell on high

LEAD(JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 215 •R1 - 207

Resistance

• R2 - 126.5 • R1 - 123.5

support

•S1 - 197 •S2 - 189

support

• S1 - 120.9 •S2 - 117.5

ZINC(JAN) Trend Strategy

• Consolidate • Buy on dips

NICKEL(JAN) NICKEL(JAN Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 114.5 •R1 - 112.4

Resistance

•R2 - 1235 •R1 - 1198

support

•S1 - 109.3 •S2 - 107.5

support

•S1 - 1167 •S2 - 1139

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info@capitalheight.com Phone- (0731)4295950

ALUMINIUM(JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 116.5 •R1 - 113.3

support

•S1 - 111.3 •S2 - 109.7

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