Daily Newsletter Newsletter-Commodity 22/09/2010
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MARKET WRAP Gold drops after run of highs Oil slides ahead of Fed Copper edges down Euro up V/s Dollar Base metals tumbled on Tuesday
Gold eased in Europe on Tuesday as the market consolidated after three days of record highs, but remained supported by speculation the Federal Reserve may signal a move towards further stimulus measures after a policy meeting later in the day. Crude oil fell for the fifth time in six days on Tuesday amid concerns over the outlook for the global economy and oil demand and as investors awaited results from a key Federal Reserve policy meeting.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Sep 22
6:00am
AUD
MI Leading Index m/m
2:00pm
GBP
MPC Meeting Minutes
1-0-8
1-0-8
2:30pm
EUR
Industrial New Orders m/m
-1.2%
2.5%
6:00pm
CAD
Core Retail Sales m/m
0.4%
-0.5%
6:00pm
CAD
Leading Index m/m
0.5%
0.4%
6:00pm
CAD
Retail Sales m/m
0.5%
0.1%
6:30pm
EUR
Belgium NBB Business Climate
-5.0
-5.1
8:00pm
USD
Crude Oil Inventories
-1.5M
-2.5M
0.0%
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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 -19350 • R1 -19180
Resistance
• R2 - 32850 • R1 - 32280
support
• S1 -18940 • S2 -18750
support
• S1 - 31750 • S2 - 31180
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 366 • R1 - 357
Resistance
• R2 - 3610 • R1 - 3520
support
• S1 - 351 • S2 - 343
support
• S1 - 3430 • S2 - 3350
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 191 •R1 - 183
Resistance
• R2 - 102.8 • R1 - 100.3
support
•S1 - 175 •S2 - 167
support
• S1 - 97.5 •S2 - 95.3
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 102.7 •R1 - 100.5
Resistance
•R2 - 1083 •R1 - 1045
support
•S1 - 96.7 •S2 - 94.5
support
•S1 - 1025 •S2 - 995
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 102.7 •R1 - 100.5
support
•S1 - 97.5 •S2 - 94.5
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