Daily Newsletter Newsletter-Commodity 27/04/2011
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MARKET WRAP Silver was on course for its largest one-day fall in six weeks U.S. stock markets hit year high LME metals give up part of recent gains Oil prices seesawed in volatile trading on Tuesday Silver and gold tumbled on Tuesday as investors sold on uncertainty about the direction of monetary policy in the United States, but a softer dollar helped support prices and sentiment. The Fed is expected to indicate it is in no hurry to raise interest rates, while Chairman Ben Bernanke will deliver the first regularly scheduled post-decision news briefing in the bank's 97-year history.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed 11:30am Apr 27 All Day
EUR
GfK German Consumer Climate
EUR
2:30pm
Forecast Previous 5.9
5.9
German Prelim CPI m/m
0.2%
0.5%
EUR
Industrial New Orders m/m
1.3%
1.2%
6:00pm
USD
Core Durable Goods Orders m/m
1.7%
-0.3%
6:00pm
USD
Durable Goods Orders m/m
2.1%
-0.6%
8:00pm
USD
Crude Oil Inventories
1.4M
-2.3M
10:00pm
USD
FOMC Statement
10:00pm
USD
Federal Funds Rate
<0.25%
<0.25%
11:45pm
USD
FOMC Press Conference
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TECHNICAL VIEW GOLD(JUNE) Trend Strategy
• Bullish • Buy on dips
SILVER(MAY MAY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 -22280 • R1 -22070
Resistance
• R2 - 69500 • R1 - 68150
support
• S1 -21780 • S2 -21550
support
• S1 - 66200 • S2 - 64850
COPPER(APR) Trend Strategy
• Consolidate • Buy on dips
CRUDE(MAY MAY) Trend Strategy
• Bullish • Buy on dips
Resistance
• R2 - 435 • R1 - 427
Resistance
• R2 - 5130 • R1 - 5040
support
• S1 - 418 • S2 - 411
support
• S1 - 4935 • S2 - 4850
NATURALGAS(APR) Trend Strategy
• Consolidate • Sell on high
LEAD(APR)) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 209 •R1 - 201
Resistance
• R2 - 119.5 • R1 - 116.7
support
•S1 - 187 •S2 - 179
support
• S1 - 112.8 •S2 - 109.5
ZINC(APR) Trend Strategy
• Consolidate • Sell on high
NICKEL(APR R) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 105.2 •R1 - 102.5
Resistance
•R2 - 1217 •R1 - 1197
support
•S1 - 99.7 •S2 - 96.5
support
•S1 - 1153 •S2 - 1118
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ALUMINIUM(APR) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 125.7 •R1 - 122.8
support
•S1 - 120.3 •S2 - 118.5
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