Daily Newsletter Newsletter-Commodity 29/06/2011
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MARKET WRAP Oil rises on optimism on Greece, weak dollar Dollar weakness adds to lift for oil prices Gold rose back above $1,500 an ounce Copper rose on Tuesday Cpper inventories fell 2,150 tonnes Oil prices rose on Tuesday on optimism that Greece can pass an unpopular austerity program, and also on lift from a weak dollar. The weak dollar added lift to dollardenominated oil and the rising euro rallied further after the Portuguese government said it planned to be scrupulous in meeting terms of a financial bailout. Copper rose on Tuesday as an agreement by French banks to rollover Greek debt supported appetite for riskier assets but caution remained ahead of Greece's vote on austerity measures later in the week. Gold rose back above $1,500 an ounce in Europe on Tuesday.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Wed 12:15am Jun 29 All Day
EUR
ECB President Trichet Speaks
EUR
Italian Bank Holiday
7:30pm
USD
Pending Home Sales m/m
8:00pm
USD
Crude Oil Inventories
9:30pm
USD
FOMC Member Raskin Speaks
Forecast Previous
2.4%
-11.6% -1.7M
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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 - 22570 • R1 - 22280
Resistance
• R2 - 54800 • R1 - 52750
support
• S1 - 22030 • S2 - 21850
support
• S1 - 50180 • S2 - 49300
COPPER(JUNE) Trend Strategy
• Consolidate • Buy on dips
CRUDE(JULY) Trend Strategy
• Consolidate • Sell on high
Resistance
• R2 - 418 • R1 - 411
Resistance
• R2 - 4270 • R1 - 4180
support
• S1 - 399 • S2 - 391
support
• S1 - 4050 • S2 - 3970
NATURALGAS(JULY) Trend Strategy
• Consolidate • Sell on high
LEAD(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 207 •R1 - 201
Resistance
• R2 - 119.5 • R1 - 116.8
support
•S1 - 191 •S2 - 185
support
• S1 - 113.8 •S2 - 109.5
ZINC(JUNE) Trend Strategy
• Consolidate • Sell on high
NICKEL(JUNE JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 103.8 •R1 - 101.8
Resistance
•R2 - 1055 •R1 - 1028
support
•S1 - 99.3 •S2 - 95.8
support
•S1 - 997 •S2 - 973
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info@capitalheight.com PhonePhone (0731)4295950
ALUMINIUM(JUNE) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 116.8 •R1 - 113.5
support
•S1 - 110.3 •S2 - 108.5
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