Daily Newsletter Newsletter-Commodity 09/06/2011
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MARKET WRAP Gold fell on Wednesday ECB meeting expected to flag rate rise in July LME copper prices fell 2 percent on Wednesday dollar was up against a basket of currencies Crude oil trading above 101$ Gold fell on Wednesday after Federal Reserve Chairman Ben Bernanke offered no hints of further U.S. monetary easing in a speech a day earlier, taking some pressure off the dollar. The dollar was up around a third of a percent against a basket of six other major currencies early on Wednesday and by nearly half a percent versus the euro. LME copper prices fell 2 percent on Wednesday after Federal Reserve's Bernanke bleak assessment of the U.S. economy depressed market sentiment.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Thu Jun 9
6:00pm
USD
Trade Balance
6:00pm
USD
7:30pm
Forecast Previous -48.6B
-48.2B
Unemployment Claims
424K
422K
USD
Wholesale Inventories m/m
1.0%
1.1%
8:00pm
USD
Natural Gas Storage
77B
83B
9:00pm
USD
FOMC Member Yellen Speaks
11:30pm
USD
FOMC Member Plosser Speaks
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -22880 • R1 -22690
Resistance
• R2 - 56800 • R1 - 55650
support
• S1 - 22410 • S2 - 22150
support
• S1 - 53650 • S2 - 52500
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 425 • R1 - 416
Resistance
• R2 - 4650 • R1 - 4580
support
• S1 - 402 • S2 - 393
support
• S1 - 4460 • S2 - 4380
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Buy on dips
LEAD(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 225 •R1 - 219
Resistance
• R2 - 119.5 • R1 - 116.8
support
•S1 - 207 •S2 - 198
support
• S1 - 113.5 •S2 - 109.8
ZINC(JUNE) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 106.5 •R1 - 103.4
Resistance
•R2 - 1072 •R1 - 1047
support
•S1 - 99.7 •S2 - 97.5
support
•S1 - 1014 •S2 - 983
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 122.5 •R1 - 119.9
support
•S1 - 117.7 •S2 - 113.5
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