Daily Newsletter Newsletter-Commodity 17/06/2011
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MARKET WRAP Gold held steady in choppy trading on Thursday The euro itself tumbled on Thursday Copper recovers sharply from lower level China's aluminium production hit a record high in May Oil edged up over $1 on Thursday Gold held steady in choppy trading on Thursday, guided by the fluctuations of the U.S. dollar, which profited from the tumble in the euro on the back of the Greek debt crisis. The U.S. Labor Department said initial weekly jobless claims fell in the latest week, although not by enough to lower the unemployment rate. Copper prices slid on Thursday as fears over weak growth in the United States and risk of default in Greece hit investor sentiment. U.S. crude was up 22 cents to $95.03 a barrel at the same time after getting down to $94.29.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Fri 5:30am Jun 17 1:30pm
EUR
ECB President Trichet Speaks
EUR
Italian Trade Balance
-2.14B
-3.94B
2:30pm
EUR
Trade Balance
-2.0B
-0.9B
7:25pm
USD
Prelim UoM Consumer Sentiment
74.2
74.3
7:25pm
USD
Prelim UoM Inflation Expectations
7:30pm
USD
CB Leading Index m/m
4.1% 0.3%
-0.3%
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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 - 22780 • R1 - 22550
Resistance
• R2 - 55200 • R1 - 53850
support
• S1 - 22280 • S2 - 21950
support
• S1 - 52250 • S2 - 50780
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JUNE)) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 421 • R1 - 414
Resistance
• R2 - 4410 • R1 - 4330
support
• S1 - 403 • S2 - 395
support
• S1 - 4220 • S2 - 4140
NATURALGAS(JUNE) Trend Strategy
• Consolidate • Sell on high
LEAD(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 215 •R1 - 207
Resistance
• R2 - 116.5 • R1 - 113.8
support
•S1 - 195 •S2 - 189
support
• S1 - 111.0 •S2 - 108.8
ZINC(JUNE) Trend Strategy
• Consolidate • Sell on high
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 102.8 •R1 - 100.5
Resistance
•R2 - 1035 •R1 - 1008
support
•S1 - 97.8 •S2 - 95.5
support
•S1 - 973 •S2 - 945
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 118.8 •R1 - 116.5
support
•S1 - 113.1 •S2 - 110.5
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