Daily Newsletter-Commodity 16/02/2012
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MARKET WRAP U.S. crude futures held near $102 a barrel Gold traded little changed on Thursday Copper slips as Greece delay sours sentiment Gold traded little changed on Thursday as news of delays to a bailout for Greece dampened investors' hopes for a resolution of the eurozone's economic problems. U.S. crude futures held near $102 a barrel, supported by concerns about possible supply disruptions and a small decline in U.S. inventory build, although European debt woes continued to cap the market's upward moves.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Thu Feb 16
12:30am
USD
FOMC Meeting Minutes
2:30pm
EUR
Italian Trade Balance
-1.21B
-1.58B
7:00pm
USD
Building Permits
0.68M
0.67M
7:00pm
USD
PPI m/m
0.3%
-0.1%
7:00pm
USD
Unemployment Claims
364K
358K
7:00pm
USD
Core PPI m/m
0.1%
0.3%
7:00pm
USD
Housing Starts
0.68M
0.66M
7:30pm
USD
Fed Chairman Bernanke Speaks
8:30pm
USD
Philly Fed Manufacturing Index
9.0
7.3
8:30pm
USD
Mortgage Delinquencies
9:00pm
USD
Natural Gas Storage
7.99% -126B
-78B
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TECHNICAL VIEW GOLD(APR) Trend Strategy
• Consolidate • Buy on dips
SILVER(MAR) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 28550 • R1 - 28280
Resistance
• R2 - 58500 • R1 - 57400
support
• S1 - 27930 • S2 - 27650
support
• S1 - 55800 • S2 - 54500
COPPER(FEB) Trend Strategy
• Consolidate • Buy on dips
CRUDE(FEB) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 434 • R1 - 425
Resistance
• R2 - 5115 • R1 - 5050
support
• S1 - 414 • S2 - 405
support
• S1 - 4910 • S2 - 4830
NATURALGAS(FEB) Trend Strategy
• Bearish • Sell on high
LEAD(FEB) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 135 •R1 - 129
Resistance
• R2 - 106.5 • R1 - 103.5
support
•S1 -118 •S2 -111
support
• S1 - 100.2 •S2 - 97.5
ZINC(FEB) Trend Strategy
• Consolidate • Sell on high
NICKEL(FEB) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 105.5 •R1 - 102.3
Resistance
•R2 - 1045 •R1 - 1017
support
•S1 - 97.8 •S2 - 95.5
support
•S1 - 983 •S2 - 955
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ALUMINIUM(FEB) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 112.8 •R1 - 110.3
support
•S1 - 107.2 •S2 - 105.5
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