Daily Newsletter Newsletter-Commodity 23/09/2010
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MARKET WRAP Gold hits record high after Fed rates signal Oil falls below $75 after U.S. inventory data U.S. crude stockpiles unexpectedly rise Euro up V/s Dollar Copper swept to its highest in five months
Gold rose for a third day on Wednesday to hit record highs after the Federal Reserve signalled it stood ready to inject fresh cash into the economy, knocking the dollar and whetting investor appetite for bullion. Oil fell below $75 a barrel on Wednesday, reversing earlier gains after government inventory data showed a rise in crude and oil product stocks.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu 12:30pm Sep 23 1:00pm
EUR
French Flash Manufacturing PMI
55.0
55.1
EUR
German Manufacturing PMI
57.7
58.2
1:00pm
EUR
German Flash Services PMI
57.2
57.2
1:30pm
EUR
Flash Manufacturing PMI
54.6
55.1
1:30pm
EUR
Flash Services PMI
55.5
55.9
6:00pm
USD
Unemployment Claims
451K
450K
7:30pm
USD
Existing Home Sales
4.11M
3.83M
8:00pm
USD
Natural Gas Storage
82B
103B
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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 - 33150 • R1 - 32580
support
• S1 -19040 • S2 -18850
support
• S1 - 31850 • S2 - 31180
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 366 • R1 - 361
Resistance
• R2 - 3550 • R1 - 3480
support
• S1 - 351 • S2 - 343
support
• S1 - 3390 • S2 - 3310
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 191 •R1 - 183
Resistance
• R2 - 102.8 • R1 - 100.5
support
•S1 - 175 •S2 - 167
support
• S1 - 98.5 •S2 - 96.3
ZINC(SEP) Trend Strategy
• Consolidate • Buy on dips
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 102.7 •R1 - 99.8
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 • Buy on dips
Resistance
•R2 - 102.7 •R1 - 100.7
support
•S1 - 99.3 •S2 - 97.5
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