Daily Newsletter-Commodity 03/10/2011
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MARKET WRAP Gold lower for month as dollar strengthens Silver set for monthly and quarterly decline Copper fell on Friday and looked set to log its worst monthly loss in 3 years U.S. crude in biggest quarterly fall since 2008 Brent crude falls below $103 Lead, zinc and nickel slides sharply on friday Gold rose on Friday on lingering worries of a global economic slowdown, and the price of bullion notched its biggest quarterly gain of this year even after a sharp pullback from a record hit this month. Copper fell on Friday and looked set to log its worst monthly loss in three years as concerns that weak economic growth would subdue demand outweighed expectations of a supply deficit. Oil prices slumped on Friday on renewed global economic worries, pushing back Brent more than 10 percent this month for its biggest quarterly decline in five quarters.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Mon Oct 3
All Day
EUR
German Bank Holiday
1:30pm
EUR
Final Manufacturing PMI
48.4
48.4
7:30pm
USD
ISM Manufacturing PMI
50.5
50.6
7:30pm
USD
Construction Spending m/m
-0.1%
-1.3%
7:30pm
USD
ISM Manufacturing Prices
54.3
55.5
All Day
USD
Total Vehicle Sales
12.3M
12.1M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Consolidate • Sell on high
SILVER(DEC) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 26550 • R1 - 26180
Resistance
• R2 - 55850 • R1 - 52570
support
• S1 - 25440 • S2 - 25150
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 - 4130 • R1 - 4040
support
• S1 - 341 • S2 - 333
support
• S1 - 3870 • S2 - 3790
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 195 •R1 - 189
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 - 927 •R1 - 897
support
•S1 - 90.5 •S2 - 88.2
support
•S1 - 845 •S2 - 803
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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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