Daily Newsletter Newsletter-Commodity 25/10/2010
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MARKET WRAP Gold sets first decline in 12 weeks German Ifo sentiment up in Oct Oil up in thin trade on German data Dollar consolidate V/S euro Copper consolidate near highs Lead and zinc on multi week highs Silver slips sharply from recent high
Oil prices rose 1.4 percent on Friday on positive German business sentiment data, French strikes and a storm threat as the dollar index seesawed and G20 finance ministers met to consider currency policy. The dollar index was down around 7 percent intraday from September highs, and U.S. oil futures rose 10.5 percent during that period. Gold steadied on Friday after its first weekly decline in nearly 3 months, with bullion investors keeping an eye on any statements from the G20 meeting.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon 2:30pm Oct 25 6:00pm
EUR
Industrial New Orders m/m
USD
Fed Chairman Bernanke Speaks
7:30pm
USD
Existing Home Sales
Forecast Previous 2.1%
-2.0%
4.29M
4.13M
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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 -19950 • R1 -19620
Resistance
• R2 - 36250 • R1 - 35550
support
• S1 -19250 • S2 -19080
support
• S1 - 34650 • S2 - 34180
COPPER(NOV) Trend Strategy
• Bullish • Buy on dips
CRUDE(NOV) CRUDE(NOV Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 385 • R1 - 378
Resistance
• R2 - 3770 • R1 - 3690
support
• S1 - 368 • S2 - 361
support
• S1 - 3610 • S2 - 3525
NATURALGAS(OCT) Trend Strategy
• Bearish • Sell on high
LEAD(OCT)) Trend Strategy
• Bullish • Buy on dips
Resistance
•R2 - 161 •R1 - 153
Resistance
• R2 - 116.5 • R1 - 113.5
support
•S1 - 146 •S2 - 137
support
• S1 - 109.3 •S2 - 106.5
ZINC(OCT) Trend Strategy
• Bullish • Buy on dips
NICKEL(OCT) NICKEL(OCT Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 117.3 •R1 - 113.5
Resistance
•R2 - 1085 •R1 - 1058
support
•S1 - 110.3 •S2 - 107.5
support
•S1 - 1033 •S2 - 1005
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 107.9 •R1 - 105.3
support
•S1 - 103.7 •S2 - 101.3
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