Daily Newsletter Newsletter-Commodity 29/07/2011
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MARKET WRAP Gold edged down further on Thursday Silver dropped 2 percent as Wall Street rebounded Copper prices rose on Thursday Copper stocks in LME approved warehouses fell 1,450 tonnes Aluminium stocks rose 92,425 tonnes to 4,461,425 tonnes. Oil rebounded on Thursday Gold edged down further on Thursday from the previous session's record high as investors hoped for passage of a bill to cut the U.S. deficit, which could ease worries about a U.S. government default or ratings downgrade. Copper prices rose on Thursday, supported by encouraging economic data from the United States and by supply worries after a force majeure was declared at the world's biggest copper mine, although further gains were capped by uncertainty about the U.S. debt situation. Oil rebounded on Thursday as a tropical storm heading toward the Texas coast threatened to disrupt supply.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri Jul 29
6:00pm
USD
Advance GDP q/q
1.7%
1.9%
6:00pm
USD
Advance GDP Price Index q/q
2.0%
2.0%
6:00pm
USD
Employment Cost Index q/q
0.5%
0.6%
7:15pm
USD
Chicago PMI
60.1
61.1
7:25pm
USD
Revised UoM Consumer Sentiment
64.1
63.8
7:25pm
USD
Revised UoM Inflation Expectations
3.4%
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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 - 23240
Resistance
• R2 - 61200 • R1 - 59550
support
• S1 - 22930 • S2 - 22750
support
• S1 - 57670 • S2 - 56500
COPPER(AUG)) Trend Strategy
• Consolidate • Buy on dips
CRUDE(AUG AUG) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 452 • R1 - 441
Resistance
• R2 - 4440 • R1 - 4370
support
• S1 - 429 • S2 - 421
support
• S1 - 4240 • S2 - 4175
NATURALGAS(AUG AUG) Trend Strategy
• Consolidate • Sell on high
LEAD(JULY JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 203 •R1 - 195
Resistance
• R2 - 122.8 • R1 - 119.2
support
•S1 -185 •S2 -179
support
• S1 - 116.3 •S2 - 113.5
ZINC(JULY) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 113.5 •R1 - 110.6
Resistance
•R2 - 1135 •R1 - 1103
support
•S1 - 108.3 •S2 - 106.5
support
•S1 - 1063 •S2 - 1035
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 118.5 •R1 - 116.2
support
•S1 - 114.2 •S2 - 111.8
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