Daily Newsletter-Commodity 04/10/2011
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MARKET WRAP Silver rises nearly 5 pct at session high Gold headed for its largest one-day rise Copper bounces off 14-month lows Stronger dollar weighs on metals Nickel up more than 6% Gold headed for its largest one-day rise in nearly a month on Monday and silver climbed almost 5 percent after Greece warned it will miss deficit targets set to avoid bankruptcy, unleashing a sell-off in equities and commodities. U.S. crude oil futures went briefly positive while Brent crude futures rose back to even from earlier losses, lifted by betterthan-expected U.S. manufacturing data. Copper rebounded from 14-month lows hit earlier on Monday following stronger-than-expected manufacturing figures from the United States.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Tue Oct 4
All Day
EUR
ECOFIN Meetings
2:30pm
EUR
PPI m/m
6:30pm
EUR
ECB President Trichet Speaks
6:30pm
USD
FOMC Member Raskin Speaks
7:30pm
USD
Fed Chairman Bernanke Testifies
7:30pm
USD
Factory Orders m/m
Forecast Previous
-0.2%
0.5%
0.2%
2.4%
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Sell on high
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 27250 • R1 - 26980
Resistance
• R2 - 55850 • R1 - 52570
support
• S1 - 26440 • S2 - 25950
support
• S1 - 49850 • S2 - 48400
COPPER(NOV) Trend Strategy
• Consolidate • Sell on high
CRUDE(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 363 • R1 - 355
Resistance
• R2 - 4065 • R1 - 3975
support
• S1 - 341 • S2 - 333
support
• S1 - 3830 • S2 - 3750
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 195 •R1 - 187
Resistance
• R2 - 103.5 • R1 - 99.7
support
•S1 -178 •S2 -171
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 - 98.5 •R1 - 95.3
Resistance
•R2 - 997 •R1 - 963
support
•S1 - 90.5 •S2 - 88.2
support
•S1 - 905 •S2 - 863
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info@capitalheight.com Phone- (0731)4295950
ALUMINIUM(OCT) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 111.5 •R1 - 109.8
support
•S1 - 105.8 •S2 - 102.5
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