Daily Newsletter Newsletter-Commodity 30/09/2010
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MARKET WRAP Gold hits 10th record peak in 12 days Silver climbs to 30-year peak Oil hovered above $77 a barrel on Wednesday The dollar fell for a fourth consecutive session Copper rose above the key $8,000 a tonne
Gold hit its 10th record high in 12 trading days on Wednesday as investors worried that aggressive measures by the Federal Reserve to prop up the U.S. economy could undermine the dollar and spark inflation. Oil hovered above $76 a barrel on Wednesday, paring losses after U.S. government data showed crude and oil products stocks fell last week.
ECONOMIC CALENDAR Date
Time
Currency
Thu Sep 30
1:25pm
EUR
2:30pm
Economic Data
Forecast Previous -20K
-17K
EUR
German Unemployment Change Italian Prelim CPI m/m
0.0%
0.2%
6:00pm
USD
Unemployment Claims
458K
465K
6:00pm
USD
Final GDP q/q
1.6%
1.6%
6:00pm
USD
Final GDP Price Index q/q
1.9%
1.9%
7:15pm
USD
Chicago PMI
56.0
56.7
7:30pm
USD
8:00pm
USD
Fed Chairman Bernanke Testifies Natural Gas Storage
68B
73B
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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 - 34250 • R1 - 33380
support
• S1 -19040 • S2 -18850
support
• S1 - 32550 • S2 - 31580
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT)) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 372 • R1 - 364
Resistance
• R2 - 3580 • R1 - 3510
support
• S1 - 357 • S2 - 348
support
• S1 - 3410 • S2 - 3330
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 193 •R1 - 184
Resistance
• R2 - 106.3 • R1 - 102.5
support
•S1 - 176 •S2 - 167
support
• S1 - 99.5 •S2 - 96.8
ZINC(SEP) Trend Strategy
• Consolidate • Sell on higher
NICKEL(SEP) NICKEL(SEP Trend Strategy
• Consolidate • Sell on dips
Resistance
•R2 - 102.5 •R1 - 99.8
Resistance
•R2 - 1083 •R1 - 1053
support
•S1 - 96.8 •S2 - 94.7
support
•S1 - 1025 •S2 - 995
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.5 •R1 - 104.2
support
•S1 - 102.2 •S2 - 99.5
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