Daily Newsletter Newsletter-Commodity 09/05/2011
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MARKET WRAP Silver rose 2 percent on Friday Gold up 1.5 pct on encouraging U.S. jobs data Biggest weekly drop for crude in dollar terms Euro hits more than 2-week low US private jobs grew in April Copper eked out a modest gain on Friday US jobless rate rose to 9.0 percent. Silver rose 2 percent on Friday, snapping a five-day losing streak that cut prices by almost a third, while gold rose after encouraging U.S. jobs data triggered a broad bounce in beaten-down commodities. dollar surged against the euro after a German media report suggested Greece had raised the possibility of leaving the euro zone. For the week, gold lost 5 percent, the worst weekly performance since late February 2009. Oil fell on Friday to cap a frenzied trading week that sliced prices by a record of more than $16 a barrel on demand worries and a move by investors to slash commodities exposures
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast
Previous
Mon May 9
5:20am
JPY
11:30am
EUR
Monetary Policy Meeting Minutes German Trade Balance
12.5B
11.4B
2:00pm
EUR
14.3
14.2
Sentix Investor Confidence
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TECHNICAL VIEW GOLD(JUNE) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -22340 • R1 -22080
Resistance
• R2 - 58500 • R1 - 56250
support
• S1 -21680 • S2 -21450
support
• S1 - 53850 • S2 - 51500
COPPER(JUNE) Trend Strategy
• Consolidate • Sell on high
CRUDE(MAY MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 416 • R1 - 407
Resistance
• R2 - 4580 • R1 - 4495
support
• S1 - 393 • S2 - 384
support
• S1 - 4350 • S2 - 4270
NATURALGAS(MAY)) Trend Strategy
• Consolidate • Sell on high
LEAD(MAY MAY) Trend Strategy
• Bearish • Sell on high
Resistance
•R2 - 206 •R1 - 198
Resistance
• R2 - 109.5 • R1 - 106.3
support
•S1 - 187 •S2 - 181
support
• S1 - 102.8 •S2 - 99.5
ZINC(MAY) Trend Strategy
• Bearish • Sell on high
NICKEL(MAY MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 99.5 •R1 - 97.9
Resistance
•R2 - 1164 •R1 - 1125
support
•S1 - 94.5 •S2 - 91.8
support
•S1 - 1093 •S2 - 1058
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ALUMINIUM(MAY) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 120.5 •R1 - 117.7
support
•S1 - 115.2 •S2 - 112.5
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