Daily Newsletter Newsletter-Commodity 21/07/2011
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MARKET WRAP Oil gains on U.S. inventory data Crude stocks fell 3.73 million barrels to 351.73 million barrels Gold rose on Wednesday above 1596$ Silver was up 1.4 percent at $39.82 an ounce. Copper closed lower on Wednesday The euro rose against the dollar Oil rose on Tuesday after weekly U.S. government data showed crude stocks fell more than expected last week, down for the seventh straight week, Crude stocks fell 3.73 million barrels to 351.73 million barrels. Gold rose on Wednesday after the previous session's drop from record highs, as investors focused on economic uncertainty despite progress in talks on raising the U.S. debt limit. Copper closed lower on Wednesday on lingering investor concerns over the euro zone debt crisis and poor spot demand from top consumer China.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Thu Jul 21
6:00pm
USD
Unemployment Claims
6:00pm
USD
FOMC Member Evans Speaks
7:30pm
USD
Fed Chairman Bernanke Testifies
7:30pm
USD
Philly Fed Manufacturing Index
7:30pm
USD
7:30pm 8:00pm
Forecast Previous 409K
405K
2.7
-7.7
CB Leading Index m/m
0.2%
0.8%
USD
OFHEO HPI m/m
0.4%
0.8%
USD
Natural Gas Storage
67B
84B
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info@capitalheight.com PhonePhone (0731)4295950
TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 23550 • R1 - 23220
Resistance
• R2 - 62200 • R1 - 60850
support
• S1 - 22920 • 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 - 4420
support
• S1 - 433 • S2 - 425
support
• S1 - 4310 • S2 - 4225
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 - 125.5 • R1 - 122.8
support
•S1 - 197 •S2 - 189
support
• S1 - 119.2 •S2 - 116.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 112.5 •R1 - 109.6
Resistance
•R2 - 1125 •R1 - 1093
support
•S1 - 107.3 •S2 - 104.5
support
•S1 - 1053 •S2 - 1015
www.capitalheight.com
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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