Daily Newsletter-Commodity 28/09/2011
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MARKET WRAP Gold jumps 3 pct on physical buying Silver bounces back 7 pct after sharp drop U.S. crude jumped more than 4 percent Copper recovers sharply after sharp fall up almost 3% Lead moved up by 5% Nickel and zinc up more than 3% Gold rose by nearly 2 percent on Tuesday as a drop in the dollar index helped the precious metal's recovery from its worst three-day decline in nearly three decades the day before. Oil rose on Tuesday, with Brent crude up by more than $2 to above $106 a barrel, as fresh measures discussed by the European Central Bank curbed some anxiety about European debt. The dollar fell 1.1 percent against a basket of currencies. U.S. crude jumped more than 4 percent to a high of $83.69 a barrel.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed 11:30am Sep 28 All Day
EUR
German Import Prices m/m
-0.3%
0.8%
EUR
German Prelim CPI m/m
-0.1%
0.0%
6:00pm
USD
Core Durable Goods Orders m/m
0.1%
0.8%
6:00pm
USD
Durable Goods Orders m/m
-0.2%
4.1%
8:00pm
USD
Crude Oil Inventories
1.1M
-7.3M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Sell on high
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27150 • R1 - 26680
Resistance
• R2 - 57850 • R1 - 54570
support
• S1 - 25840 • S2 - 25550
support
• S1 - 51250 • S2 - 49400
COPPER(NOV) Trend Strategy
• Consolidate • Sell on high
CRUDE(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 395 • R1 - 383
Resistance
• R2 - 4240 • R1 - 4170
support
• S1 - 365 • S2 - 353
support
• S1 - 4050 • S2 - 3965
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 203 •R1 - 195
Resistance
• R2 - 104.5 • R1 - 101.3
support
•S1 -183 •S2 -175
support
• S1 - 97.8 •S2 - 94.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 99.5 •R1 - 97.3
Resistance
•R2 - 977 •R1 - 943
support
•S1 - 92.5 •S2 - 89.2
support
•S1 - 895 •S2 - 858
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 111.5 •R1 - 109.8
support
•S1 - 105.8 •S2 - 102.5
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