Daily Newsletter-Commodity 19/09/2011
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MARKET WRAP US crude dips on Europe woes Dollar up as euro drops on bond rejection Wall Street rose for a fifth day Gold rises 1 pct on gloomy U.S. consumer outlook Copper reversed earlier gains to trade slightly lower on Friday Copper stocks at LME-approved warehouses fell 125 tonnes Gold rallied 1 percent on Friday in volatile trade, as the safe-haven bid for precious metals returned when a survey showed U.S. consumers gloomy about the economic outlook. Copper ended down on Friday, shedding early gains to post its second straight weekly loss as the dollar strengthened and worries about Europe's debt crisis had investors fretting about the global economy and the deand outlook for industrial metals. U.S. crude futures fell more than 1 percent on Friday as uncertainties surrounding the euro zone debt crisis and gloomy consumer outlook in the United States prompted preweekend selling.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Mon Sep 19
4:31am
GBP
Rightmove HPI m/m
4:31am
GBP
BOE Quarterly Bulletin
All Day
JPY
Bank Holiday
7:30pm
USD
NAHB Housing Market Index
Forecast Previous -2.1%
15
15
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 28250 • R1 - 27880
Resistance
• R2 - 66850 • R1 - 65370
support
• S1 - 27380 • S2 - 26850
support
• S1 - 62850 • S2 - 61200
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 431 • R1 - 423
Resistance
• R2 - 4350 • R1 - 4235
support
• S1 - 409 • S2 - 401
support
• S1 - 4080 • S2 - 4015
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 197 •R1 - 189
Resistance
• R2 - 119.5 • R1 - 115.7
support
•S1 -178 •S2 -169
support
• S1 - 111.8 •S2 - 108.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.5 •R1 - 104.7
Resistance
•R2 - 1075 •R1 - 1043
support
•S1 - 100.6 •S2 - 96.5
support
•S1 - 983 •S2 - 950
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 114.5 •R1 - 112.8
support
•S1 - 109.8 •S2 - 107.5
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