Daily Newsletter Newsletter-Commodity 08/06/2011
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MARKET WRAP Oil slips on OPEC hike possibility trading near 98$ The dollar recovered against the euro Gold steady near one-month highs Copper steadied on Tuesday Silver recovered sharply late night Copper fell by nearly 1 percent on Wednesday in London, New York and Shanghai, with international markets reversing early gains as the dollar recovered from a one-month low hit after a bleak assessment of the U.S. economy by Fed officials. Gold prices were steady on Wednesday, supported by a weaker dollar after U.S. Federal Reserve Chairman Ben Bernanke acknowledged slowing economic growth momentum but gave no hint on further stimulus.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed Jun 8
12:30am
USD
Consumer Credit m/m
1:15am
USD
Fed Chairman Bernanke Speaks
6:30am
USD
FOMC Member Dudley Speaks
All Day
ALL
OPEC Meetings
8:00pm
USD
Crude Oil Inventories
11:30pm
USD
Beige Book
Forecast Previous 5.2B
4.8B
-1.4M
2.9M
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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 -23080 • R1 -22790
Resistance
• R2 - 57600 • R1 - 56250
support
• S1 - 22510 • S2 - 22250
support
• S1 - 54750 • S2 - 53500
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 425 • R1 - 416
Resistance
• R2 - 4570 • R1 - 4480
support
• S1 - 403 • S2 - 395
support
• S1 - 4340 • S2 - 4250
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Buy on dips
LEAD(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 225 •R1 - 219
Resistance
• R2 - 118.5 • R1 - 115.8
support
•S1 - 207 •S2 - 198
support
• S1 - 112.5 •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 - 123.5 •R1 - 120.9
support
•S1 - 117.7 •S2 - 113.5
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