Daily Newsletter Newsletter-Commodity 05/07/2011
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MARKET WRAP Oil steadies as US holiday curtails trade World stock hits 4-1/2 high The euro slipped from one month high against the dollar. Gold up 0.5 pct as weak dollar SPDR gold ETF reports 78,000/oz outflow Copper steady as sentiment improves Copper stocks fall to lowest in more than 2 months Aluminium inventories fall to lowest Oil prices were steady on Monday on firmer global share prices, but trade was muted by the United States Independence Day holiday despite negotiations between the Libyan government and rebels and Greek debt concerns. Gold prices rose 0.5 percent in Europe on Monday as investors took advantage of the metal's dip to six-week lows last week to buy into the market, on expectations that the euro will extend gains versus the dollar. Copper steadied on Monday as a stronger dollar counterbalanced an improvement in market sentiment
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Jul 5
7:00am
JPY
Average Cash Earnings y/y
1:30pm
EUR
Final Services PMI
2:30pm
EUR
7:30pm
USD
Forecast Previous -0.4%
-1.4%
54.2
54.2
Retail Sales m/m
-0.9%
0.7%
Factory Orders m/m
1.1%
-1.2%
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 22150 • R1 - 21870
Resistance
• R2 - 54800 • R1 - 52750
support
• S1 - 21520 • S2 - 21250
support
• S1 - 50280 • S2 - 49300
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 439 • R1 - 431
Resistance
• R2 - 4370 • R1 - 4290
support
• S1 - 417 • S2 - 409
support
• S1 - 4170 • S2 - 4090
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 205 •R1 - 197
Resistance
• R2 - 123.5 • R1 - 120.3
support
•S1 - 187 •S2 - 181
support
• S1 - 117.8 •S2 - 114.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 109.5 •R1 - 106.8
Resistance
•R2 - 1093 •R1 - 1057
support
•S1 - 103.9 •S2 - 100.3
support
•S1 - 1028 •S2 - 993
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 116.8 •R1 - 112.7
support
•S1 - 110.3 •S2 - 108.5
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