Daily Newsletter Newsletter-Commodity 16/08/2011
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MARKET WRAP Gold prices eased for a third session on Monday European stocks lift from 2-year low Oil rose by around $1 a barrel on Monday Copper rises on soft dollar, Japan data Dollar dips against basket of currencies Gold prices eased for a third session on Monday as stock markets and cyclical assets such as industrial commodities continued to recover from a rout they suffered early last week, diverting investment away from the precious metal. Oil rose by around $1 a barrel on Monday, supported by hopes European leaders will come up with solutions to the region's debt crisis and broader gains in global markets. Copper rose on Monday, supported by glimmers of economic recovery in Japan, a drawdown in inventories of the metal and a softer dollar.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Aug 16
6:00pm
USD
Building Permits
0.61M
0.62M
6:00pm
USD
Housing Starts
0.60M
0.63M
6:00pm
USD
Import Prices m/m
0.0%
-0.5%
6:45pm
USD
Capacity Utilization Rate
77.0%
76.7%
6:45pm
USD
Industrial Production m/m
0.5%
0.2%
Tentative
USD
Loan Officer Survey
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 26300 • R1 - 25850
Resistance
• R2 - 60800 • R1 - 59700
support
• S1 - 25420 • S2 - 25130
support
• S1 - 57850 • S2 - 56200
COPPER(AUG)) Trend Strategy
• Consolidate • Sell on high
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 417 • R1 - 408
Resistance
• R2 - 4065 • R1 - 3980
support
• S1 - 393 • S2 - 385
support
• S1 - 3820 • S2 - 3750
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 195 •R1 - 187
Resistance
• R2 - 112.5 • R1 - 109.3
support
•S1 -175 •S2 -167
support
• S1 - 105.3 •S2 - 102.5
ZINC(AUG) Trend Strategy Resistance support
• Consolidate • Sell on high •R2 - 102.5 •R1 - 99.8 •S1 - 94.8 •S2 - 90.5
NICKEL(AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 1033 •R1 - 997
support
•S1 - 938 •S2 - 905
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ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 111.5 •R1 - 109.6
support
•S1 - 105.8 •S2 - 102.5
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