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Daily Newsletter Newsletter-Commodity 18/03/2011

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MARKET WRAP Copper rebounds to week-high LME copper stocks rise Japan still struggling to contain nuclear crisis Gold supported by inflation worries U.S. industrial output slips Oil rises over 3 pct on Middle East unrest

Copper hit its highest in over a week on Thursday as buyers moved back into the metal after Japan's nuclear crisis drove it to three-month lows this week, with positive U.S. data giving an additional lift to prices. Gold rose on Thursday, sustained by an increase in exchange traded product (ETP) holdings, stronger physical demand and a weaker dollar. Oil prices rallied by more than 3 percent on Thursday as unrest in the Middle East and North Africa added more worries about supply disruptions.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Fri Mar 18

All Day

ALL

G7 Meetings

12:30pm

EUR

German PPI m/m

0.7%

1.2%

2:30pm

EUR

Current Account

-10.6B

-13.3B

2:30pm

EUR

Italian Trade Balance

-1.98B

-2.72B

3:30pm

EUR

Trade Balance

-2.0B

-2.3B

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TECHNICAL VIEW GOLD(APR) Trend Strategy

• Consolidate • Buy on dips

SILVER(MAY MAY) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -21080 • R1 -20790

Resistance

• R2 - 53650 • R1 - 52850

support

• S1 -20530 • S2 -20350

support

• S1 - 51250 • S2 - 50100

COPPER(APR) Trend Strategy

• Consolidate • Buy on dips

CRUDE(MAR) CRUDE(MAR Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 453 • R1 - 441

Resistance

• R2 - 4730 • R1 - 4640

support

• S1 - 431 • S2 - 423

support

• S1 - 4520 • S2 - 4435

NATURALGAS(MAR)) Trend Strategy

• Consolidate • Sell on high

LEAD(MAR) LEAD(MAR Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 197 •R1 - 189

Resistance

• R2 - 125.5 • R1 - 122.3

support

•S1 - 178 •S2 - 169

support

• S1 - 118.7 •S2 - 115.5

ZINC(MAR) Trend Strategy

• Consolidate • Sell on high

NICKEL(MAR) NICKEL(MAR Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 109.3 •R1 - 106.5

Resistance

•R2 - 1223 •R1 - 1193

support

•S1 - 103.2 •S2 - 99.3

support

•S1 - 1146 •S2 - 1106

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ALUMINIUM(MAR) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 116.7 •R1 - 114.4

support

•S1 - 111.7 •S2 - 109.3

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