Daily Newsletter Newsletter-Commodity 04/08/2011
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MARKET WRAP Gold hit a record for a second straight day on Wednesday U.S. private employers added more jobs than expected in July Oil falls as US inventory build Copper fell to a three-week low on Wednesday Silver up almost 4% on Wednesday Gold hit a record for a second straight day on Wednesday, powered by deepening fears over the spread of the euro zone debt crisis, while the most recent batch of U.S. data did not dispel concern about the world's biggest economy. Oil fell 2 percent on Wednesday after data showing a build in U.S. inventories and weak demand added to wider economic concerns that have weighed on prices over the past week. Copper fell to a three-week low on Wednesday on mounting concerns that a slowdown in U.S. growth would hurt demand for metals, but supply uncertainty helped limit further falls as a strike at Chile's Escondida mine entered its 13th day.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu 3:30pm Aug 4 5:15pm
EUR
German Factory Orders m/m
-0.4%
1.8%
EUR
Minimum Bid Rate
1.50%
1.50%
6:00pm
EUR
ECB Press Conference
6:00pm
USD
Unemployment Claims
404K
398K
8:00pm
USD
Natural Gas Storage
39B
43B
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 24550 • R1 - 24280
Resistance
• R2 - 63500 • R1 - 62300
support
• S1 - 23880 • S2 - 23550
support
• S1 - 60170 • S2 - 59300
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 441 • R1 - 433
Resistance
• R2 - 4245 • R1 - 4160
support
• S1 - 423 • S2 - 415
support
• S1 - 4050 • S2 - 3970
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 - 116.5 • R1 - 113.8
support
•S1 -179 •S2 -171
support
• S1 - 111.3 •S2 - 108.5
ZINC(AUG) Trend Strategy
• Consolidate • Sell on high
NICKEL(AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 110.5 •R1 - 106.8
Resistance
•R2 - 1113 •R1 - 1087
support
•S1 - 104.3 •S2 - 101.5
support
•S1 - 1043 •S2 - 1015
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 116.5 •R1 - 113.7
support
•S1 - 110.8 •S2 - 108.5
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