Daily Newsletter Newsletter-Commodity 28/07/2011
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MARKET WRAP Gold prices rose to record highs above $1,625 The dollar sank to a three-month low against a basket of currencies U.S. oil futures slid more than 2 percent Copper slipped on Wednesday Aluminium hits highest since early June Inventories of copper in LME-registered warehouses rose by 700 tonnes Gold prices rose to record highs above $1,625 on Wednesday, with silver and palladium also rallying, as concerns over the prospect of a U.S. default prompted investors to buy precious metals as a haven from risk. U.S. oil futures slid more than 2 percent on Wednesday as a surprise increase in domestic crude inventories added to worries over weak economic data. Copper slipped on Wednesday after an increase of almost 2 percent in the previous session as a stronger dollar and soft U.S. economic data offset supply worries due to strikes at the world's largest copper mine.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Jul 28
1:25pm
EUR
German Unemployment Change
-15K
-8K
6:00pm
USD
Unemployment Claims
413K
418K
7:30pm
USD
Pending Home Sales m/m
-1.5%
8.2%
8:00pm
USD
Natural Gas Storage
38B
60B
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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 - 23240
Resistance
• R2 - 62200 • R1 - 60350
support
• S1 - 22970 • S2 - 22750
support
• S1 - 58670 • S2 - 57200
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 452 • R1 - 441
Resistance
• R2 - 4490 • R1 - 4410
support
• S1 - 429 • S2 - 421
support
• S1 - 4310 • S2 - 4235
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 205 •R1 - 197
Resistance
• R2 - 123.8 • R1 - 120.5
support
•S1 -187 •S2 -179
support
• S1 - 117.3 •S2 - 114.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.5 •R1 - 110.6
Resistance
•R2 - 1115 •R1 - 1083
support
•S1 - 108.3 •S2 - 106.5
support
•S1 - 1053 •S2 - 1015
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 118.5 •R1 - 116.7
support
•S1 - 114.2 •S2 - 111.8
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