Daily Newsletter Newsletter-Commodity 22/07/2011
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MARKET WRAP Oil rose for a third straight session on Thursday Gold held near $1,600 an ounce on Thursday Silver ETF sees largest one-day outflow in a month The euro recouped ground on Thursday LME copper falls for 2nd day China's factory output shrank in July Oil rose for a third straight session on Thursday, lifted by upbeat U.S. economic data, signs of a deal to bailout Greece and confirmation the International Energy Agency would not release more emergency stocks for now. Gold held near $1,600 an ounce on Thursday as caution over the outlook for the European debt crisis lingered after draft proposals from an emergency EU summit in Brussels were reported, and as concerns persisted over talks to lift the U.S. debt ceiling. London copper dropped for a second day on Thursday, erasing early gains, as poor manufacturing data at top copper consumer China countered optimism about progress in resolving debt woes in Europe and the United States.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri 1:30pm Jul 22 1:30pm
EUR
German Ifo Business Climate
113.7
114.5
EUR
Italian Retail Sales m/m
0.3%
0.4%
2:30pm
EUR
Industrial New Orders m/m
0.7%
0.8%
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(SEP SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 23550 • R1 - 23220
Resistance
• R2 - 62200 • R1 - 60350
support
• S1 - 22920 • S2 - 22770
support
• S1 - 58370 • S2 - 57200
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 452 • R1 - 441
Resistance
• R2 - 4560 • R1 - 4480
support
• S1 - 429 • S2 - 421
support
• S1 - 4370 • S2 - 4285
NATURALGAS(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 213 •R1 - 205
Resistance
• R2 - 124.5 • R1 - 121.2
support
•S1 - 195 •S2 - 187
support
• S1 - 118.6 •S2 - 115.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 112.5 •R1 - 109.6
Resistance
•R2 - 1125 •R1 - 1093
support
•S1 - 106.3 •S2 - 103.5
support
•S1 - 1053 •S2 - 1015
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 116.5 •R1 - 113.7
support
•S1 - 110.5 •S2 - 107.8
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