Daily Newsletter Newsletter-Commodity 24/09/2010
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MARKET WRAP Gold held steady on Friday as disappointing data U.S. stocks fell on Thursday Oil fell on Thursday as investor unease about the economic recovery Euro up V/s Dollar Copper swept to its highest in five months
Gold held steady on Thursday as disappointing data from the U.S. and Europe renewed concerns over the economic recovery, keeping market sentiment supported. Base metals scaled multi-month peaks on Thursday as investors bet fundamentals would continue to improve over the course of the year, with copper a particular favorite due to its dwindling supply base and robust Asian interest. Oil fell on Thursday as investor unease about the economic recovery spread across markets after lacklustre U.S. employment and housing data.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Sep 24
11:30am
EUR
German Import Prices m/m
0.3%
-0.2%
1:30pm
EUR
German Ifo Business Climate
106.3
106.7
1:30pm
EUR
Italian Retail Sales m/m
-0.4%
0.3%
6:00pm
USD
0.9%
-3.7%
6:00pm
USD
Core Durable Goods Orders m/m Durable Goods Orders m/m
-0.9%
0.4%
6:30pm
USD
FOMC Member Duke Speaks
7:30pm
USD
New Home Sales
292K
276K
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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 - 33350 • R1 - 32650
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 - 3370 • S2 - 3310
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 195 •R1 - 187
Resistance
• R2 - 103.8 • R1 - 101.5
support
•S1 - 178 •S2 - 170
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 - 103.7 •R1 - 100.7
Resistance
•R2 - 1083 •R1 - 1046
support
•S1 - 98.5 •S2 - 95.7
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 - 105.3 •R1 - 102.7
support
•S1 - 100.6 •S2 - 98.5
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