Daily Newsletter Newsletter-Commodity 20/07/2011
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MARKET WRAP Gold eases from record highs The euro rose broadly on Tuesday Crude oil rallied on Tuesday Copper rises on U.S. housing data U.S. housing starts hit six-month high Copper inventories at LME warehouses rose 4,450 tonnes Gold prices retreated from fresh record highs on Tuesday, setting the stage for their first down day in the past 12 sessions, as improved risk sentiment took some of the heat out of the appetite for safe havens. Crude oil rallied on Tuesday on strong U.S. housing data and a positive outlook on the unfolding events of the euro zone debt crisis. Copper hit its highest since mid-April on Tuesday on better-than-expected U.S. housing data, a weaker dollar and hopes Chinese demand will remain firm, helping offset investor anxiety over U.S. and European sovereign debt concerns.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed 11:30am Jul 20 7:30pm
EUR
German PPI m/m
EUR
Consumer Confidence
7:30pm
USD
8:00pm
USD
Forecast Previous 0.1%
0.0%
-10
-10
Existing Home Sales
4.92M
4.81M
Crude Oil Inventories
-1.5M
-3.1M
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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 - 23550 • R1 - 23320
Resistance
• R2 - 62200 • R1 - 60850
support
• S1 - 22950 • S2 - 22770
support
• S1 - 58870 • S2 - 57700
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 452 • R1 - 444
Resistance
• R2 - 4510 • R1 - 4430
support
• S1 - 433 • S2 - 425
support
• S1 - 4330 • S2 - 4245
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 215 •R1 - 207
Resistance
• R2 - 126.5 • R1 - 123.8
support
•S1 - 197 •S2 - 189
support
• S1 - 121.2 •S2 - 118.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.5 •R1 - 110.4
Resistance
•R2 - 1125 •R1 - 1093
support
•S1 - 107.7 •S2 - 104.5
support
•S1 - 1059 •S2 - 1015
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 116.5 •R1 - 113.7
support
•S1 - 110.5 •S2 - 107.8
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