Daily Newsletter-Commodity 15/09/2011
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MARKET WRAP Gold fell by nearly 1 percent on Wednesday Copper hits one-month low on slowdown fears Crude stocks post biggest weekly fall of 2011 Gold fell by nearly 1 percent on Wednesday after European leaders appeared to take a fresh step towards quelling the euro zone debt crisis, which dented other safe-haven assets, in spite of more data highlighting the fragility of the U.S. economy. Copper slipped on Wednesday after a string of poor U.S. data compounded concerns global growth was slowing. U.S. commercial crude oil stocks last week fell by their most this year as Tropical Storm Lee threatened the U.S. Gulf Coast, while oil product stocks rose even as refiners cut their utilization rates, U.S. Energy Information Administration data showed on Wednesday.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Sep 15
6:00pm
USD
Core CPI m/m
0.2%
0.2%
6:00pm
USD
Unemployment Claims
410K
414K
6:00pm
USD
CPI m/m
0.2%
0.5%
6:00pm
USD
Current Account
-122B
-119B
6:00pm
USD
Empire State Manufacturing Index
-3.9
-7.7
6:15pm
USD
Fed Chairman Bernanke Speaks
6:45pm
USD
Capacity Utilization Rate
77.5%
77.5%
6:45pm
USD
Industrial Production m/m
0.1%
0.9%
7:30pm
USD
Philly Fed Manufacturing Index
-14.7
-30.7
8:00pm
USD
Natural Gas Storage
85B
64B
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 28550 • R1 - 28380
Resistance
• R2 - 66850 • R1 - 65770
support
• S1 - 27880 • S2 - 27650
support
• S1 - 63450 • S2 - 61800
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 431 • R1 - 423
Resistance
• R2 - 4370 • R1 - 4285
support
• S1 - 409 • S2 - 401
support
• S1 - 4120 • S2 - 4040
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 203 •R1 - 196
Resistance
• R2 - 119.5 • R1 - 116.7
support
•S1 -183 •S2 -175
support
• S1 - 112.8 •S2 - 108.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.5 •R1 - 104.7
Resistance
•R2 - 1075 •R1 - 1048
support
•S1 - 100.6 •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 - 112.3
support
•S1 - 109.8 •S2 - 107.5
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