Daily Newsletter-Commodity 12/10/2011
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MARKET WRAP Gold falls on uncertainty over Slovak vote Dollar up vs euro ahead of Slovak vote Copper slipped nearly three percent on Tuesday Crude oil up above 86$ old eased 1 percent on Tuesday, giving up some of the previous day's gains, as stocks and the euro were pressured by waning optimism over a new plan to tackle euro zone debt, and ahead of a vote in Slovakia to ratify changes to the bloc's rescue fund. Copper slipped nearly three percent on Tuesday on concerns over the euro zone debt crisis as well as action by China's sovereign wealth fund to stabilise its major lenders which jilted confidence in the world's top consumer of metals. Brent crude oil fell more than $1 to below $108 per barrel on Tuesday on worries over the health of Europe's economy.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed 11:00am Oct 12 11:30am
EUR
French CPI m/m
0.3%
0.5%
EUR
German WPI m/m
-0.1%
0.1%
2:30pm
EUR
Industrial Production m/m
-0.8%
0.9%
10:50pm
USD
FOMC Member Fisher Speaks
11:00pm
USD
FOMC Member Plosser Speaks
11:30pm
USD
FOMC Meeting Minutes
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TECHNICAL VIEW GOLD(DEC) Trend Strategy
• Consolidate • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 27150 • R1 - 26880
Resistance
• R2 - 55850 • R1 - 53570
support
• S1 - 26450 • S2 - 26180
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 - 4365 • R1 - 4280
support
• S1 - 355 • S2 - 347
support
• S1 - 4130 • S2 - 4015
NATURALGAS(OCT) Trend Strategy
• Consolidate • Sell on high
LEAD(OCT) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 188 •R1 - 181
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 - 95.3
Resistance
•R2 - 997 •R1 - 963
support
•S1 - 91.5 •S2 - 88.2
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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