Daily Newsletter-Commodity 11/10/2011
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MARKET WRAP Gold rose more than 2 percent on Monday Dollar drops after euro zone plan benefits gold Silver moves up almost 2% Copper rose on Monday up almost 2% Copper inventories drop Oil rose nearly 3 percent on Monday Gold rose more than 2 percent on Monday, lifted by weakness in the dollar versus the euro after France and Germany pledged to come up with a proposal to recapitalise euro zone banks. Copper rose on Monday, recouping from earlier losses as the dollar fell and German and French leaders pledged new measures to resolve the European debt crisis by the end of the month. Oil rose nearly 3 percent on Monday, extending gains into a fourth straight session after a strike halted Kuwait's crude exports.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Oct 11
4:31am
GBP
BRC Retail Sales Monitor y/y
4:31am
GBP
RICS House Price Balance
1:00pm
EUR
ECB President Trichet Speaks
2:00pm
GBP
2:00pm
Forecast Previous -0.6% -23%
-23%
Manufacturing Production m/m
-0.1%
0.1%
GBP
DCLG HPI y/y
2.3%
-1.5%
2:00pm
GBP
Industrial Production m/m
-0.2%
-0.2%
7:30pm
GBP
NIESR GDP Estimate
7:30pm
USD
IBD/TIPP Economic Optimism
0.2% 43.2
39.9
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 26950 • R1 - 26780
Resistance
• R2 - 55850 • R1 - 53570
support
• S1 - 26250 • S2 - 25950
support
• S1 - 51150 • S2 - 48400
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(OCT) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 381 • R1 - 372
Resistance
• R2 - 4295 • R1 - 4230
support
• S1 - 355 • S2 - 347
support
• S1 - 4080 • S2 - 4015
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 185 •R1 - 177
Resistance
• R2 - 102.5 • R1 - 99.3
support
•S1 -168 •S2 -161
support
• S1 - 95.8 •S2 - 92.5
ZINC(OCT) Trend Strategy
• Consolidate • Sell on high
NICKEL(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 99.5 •R1 - 97.3
Resistance
•R2 - 997 •R1 - 963
support
•S1 - 93.5 •S2 - 90.2
support
•S1 - 905 •S2 - 863
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ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 111.5 •R1 - 109.3
support
•S1 - 106.8 •S2 - 104.5
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