Daily Newsletter Newsletter-Commodity 25/07/2011
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MARKET WRAP Oil rose for a third straight session on Thursday Gold gains 1 pct as debt worries persist London copper ends down, supply worries cap losses LME copper stocks fell 1,725 tonnes Brent crude rises above $118 The Dow Jones fell on Friday Euro slips v/s Dollar
Gold rose about 1 percent on Friday, having neared its all-time peak as reservations over a bailout plan for Greece and concerns about a lack of agreement on the U.S. debt ceiling spurred safe-haven buying. London copper ended easier Friday, surrendering early gains alongside a backpedaling euro, while traders assessed mixed supply/demand fundamentals amid a surprisingly strong summer rally. Brent crude oil jumped 1 percent to top $118 in light trade on Friday, buoyed by Europe's latest agreement to bail out Greece and by spread buying which widened the gap between London and U.S. crude.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon 8:00am Jul 25 2:00pm
JPY
BOJ Gov Shirakawa Speaks
GBP
BBA Mortgage Approvals
6:30pm
EUR
Belgium NBB Business Climate
Forecast Previous
31.3K
30.5K
-2.2
-1.1
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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(AUG AUG) Trend Strategy
• Consolidate • Buy on dips
LEAD(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 209 •R1 - 201
Resistance
• R2 - 124.5 • R1 - 121.2
support
•S1 - 191 •S2 - 183
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 - 107.3 •S2 - 104.5
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 - 117.5 •R1 - 114.7
support
•S1 - 111.5 •S2 - 108.8
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