Daily Newsletter-Commodity 01/11/2012
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MARKET WRAP London copper rose more than 1 percent on Wednesday Gold prices rose nearly 1 percent Silver surged above 32.2$ Gold rose to its highest in a week on Wednesday, as stock markets firmed and the dollar weakened ahead of a re-opening of New York markets, but were on track to end a fourmonth winning streak as October drew to a close.
ECONOMIC CALENDAR Date
Time
Currency
Thu Nov 1
5:45pm
USD
6:00pm
Economic Data
Forecast Previous 138K
162K
USD
ADP Non-Farm Employment Change Unemployment Claims
371K
369K
6:00pm
USD
Prelim Nonfarm Productivity q/q
1.3%
2.2%
6:00pm
USD
Prelim Unit Labor Costs q/q
1.3%
1.5%
6:30pm
USD
Final Manufacturing PMI
51.5
51.3
7:30pm
USD
CB Consumer Confidence
72.4
70.3
7:30pm
USD
ISM Manufacturing PMI
51.2
51.5
7:30pm
USD
Construction Spending m/m
0.7%
-0.6%
7:30pm
USD
ISM Manufacturing Prices
56.2
58.0
8:00pm
USD
Natural Gas Storage
77B
67B
8:30pm
USD
Crude Oil Inventories
2.0M
5.9M
All Day
USD
Total Vehicle Sales
15.0M
15.0M
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 31550 • R1 - 31280
Resistance
• R2 - 61800 • R1 - 60250
support
• S1 - 30850 • S2 - 30530
support
• S1 - 58250 • S2 - 57180
COPPER(NOV) Trend Strategy
• Consolidate • Sell on high
CRUDE(NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 435 • R1 - 427
Resistance
• R2 - 4820 • R1 - 4715
support
• S1 - 415 • S2 - 407
support
• S1 - 4550 • S2 - 4470
NATURALGAS(NOV) Trend Strategy
• Consolidate • Sell on high
LEAD(NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 219 •R1 - 211
Resistance
• R2 - 116.3 • R1 - 113.5
support
•S1 -193 •S2 -185
support
• S1 - 109.0 •S2 - 106.5
ZINC(NOV) Trend Strategy
• Consolidate • Sell on high
NICKEL(NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 103.5 •R1 - 101.8
Resistance
•R2 - 928 •R1 - 893
support
•S1 - 98.3 •S2 - 95.8
support
•S1 - 845 •S2 - 819
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ALUMINIUM(NOV) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 105.5 •R1 - 103.6
support
•S1 - 100.2 •S2 - 98.3
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