Daily Newsletter-Commodity 20/09/2011
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MARKET WRAP Gold fell on Monday as the dollar rallied Silver slides almost 1% on Monday Oil falls 2 pct on euro zone debt woes Copper prices slid to a 9-1/2-month low on Monday Copper stocks at LME-approved warehouses rose 3,100 tonnes Lead stocks at LME warehouses hit a 16-1/2 year high Gold fell on Monday as the dollar rallied, but European policy makers' failure to soothe fears of Greek default and contagion to other euro zone countries will support prices as investors to seek refuge in the precious metal. Oil fell more than $2 per barrel on Monday as Europe stumbled over attempts to solve the euro zone debt crisis, strengthening investor fears commodity demand growth may slow. Copper prices slid to a 9-1/2-month low on Monday after investors cut exposure to risky assets in the wake of growing jitters about failure by policymakers to contain the euro zone debt crisis as the threat of a Greek debt default intensified.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue 11:30am Sep 20 2:30pm
EUR
German PPI m/m
0.1%
0.7%
EUR
-44.3
-37.6
2:30pm
EUR
German ZEW Economic Sentiment ZEW Economic Sentiment
-42.3
-40.0
6:00pm
USD
Building Permits
0.60M
0.60M
6:00pm
USD
Housing Starts
0.59M
0.60M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 28250 • R1 - 27980
Resistance
• R2 - 66850 • R1 - 65370
support
• S1 - 27480 • S2 - 27150
support
• S1 - 62850 • S2 - 61200
COPPER(NOV) Trend Strategy
• Consolidate • Sell on high
CRUDE(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 421 • R1 - 413
Resistance
• R2 - 4270 • R1 - 4190
support
• S1 - 397 • S2 - 389
support
• S1 - 4030 • S2 - 3965
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 197 •R1 - 189
Resistance
• R2 - 118.5 • R1 - 114.7
support
•S1 -178 •S2 -169
support
• S1 - 110.8 •S2 - 107.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 104.5 •R1 - 102.7
Resistance
•R2 - 1075 •R1 - 1043
support
•S1 - 98.8 •S2 - 96.5
support
•S1 - 983 •S2 - 950
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 114.5 •R1 - 112.8
support
•S1 - 109.8 •S2 - 107.5
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