Daily Newsletter Newsletter-Commodity 07/06/2011
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MARKET WRAP Oil slips on OPEC hike possibility The dollar recovered against the euro Gold rises to one-month highs Copper ends up on softer dollar LME copper inventories rose 2,225 tonnes Silver up almost 2% Oil fell on Monday in choppy trading on raised expectations that OPEC will raise production targets this week and on continuing concerns about high prices curbing oil demand. Gold rose to its highest price level in more than a month on Monday, as fears about a slowing economy and expectations of easy U.S. money policies prompted safehaven demand. Copper climbed on Monday, buoyed by a softer dollar and output disruptions in top world producer Chile.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Tue Jun 7
3:00am
USD
FOMC Member Fisher Speaks
2:30pm
EUR
Retail Sales m/m
0.4%
-0.9%
3:30pm
EUR
German Factory Orders m/m
2.1%
-4.0%
7:30pm
USD
IBD/TIPP Economic Optimism
42.1
42.8
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TECHNICAL VIEW GOLD(AUG) Trend Strategy
• Consolidate • Buy on dips
SILVER(JULY JULY) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 -23080 • R1 -22890
Resistance
• R2 - 57600 • R1 - 56250
support
• S1 - 22610 • S2 - 22350
support
• S1 - 54750 • S2 - 53500
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 425 • R1 - 416
Resistance
• R2 - 4590 • R1 - 4515
support
• S1 - 403 • S2 - 395
support
• S1 - 4410 • S2 - 4330
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Buy on dips
LEAD(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 225 •R1 - 219
Resistance
• R2 - 116.5 • R1 - 113.8
support
•S1 - 207 •S2 - 198
support
• S1 - 110.5 •S2 - 106.8
ZINC(JUNE) Trend Strategy
• Consolidate • Buy on dips
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 106.5 •R1 - 103.4
Resistance
•R2 - 1072 •R1 - 1047
support
•S1 - 99.7 •S2 - 97.5
support
•S1 - 1014 •S2 - 983
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 122.5 •R1 - 119.9
support
•S1 - 116.7 •S2 - 113.5
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