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Daily Newsletter Newsletter-Commodity 26/04/2011

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MARKET WRAP Silver turns lower after rally Gold falls after hitting record high Shanghai copper closed lower on Monday Aluminium supported by strong Brent Crude U.S. oil turns lower after hits highest since Sept. 2008 Spot silver prices dropped nearly 2 percent on Monday, wiping out sharp initial gains after a technical failure to take out a 1980 high triggered a bout of heavy selling. Silver's sharp reversal also coincided with weakness in gold and crude oil prices. Gold hit a record high of $1,518.10 an ounce. It fell in tandem with silver to $1,504.90 an ounce. It was last up 0.1 percent. Shanghai copper closed lower on Monday, tracking losses in U.S. futures, which dropped as much as 1.3 percent, ahead of possibly weak economic data from the United States and Britain this week. Oil turned lower on Monday as a bout of profit-taking was sparked when silver reversed after a sharp rally

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Tue 6:30pm Apr 26 7:30pm

USD

S&P/CS Composite-20 HPI y/y

USD

CB Consumer Confidence

7:30pm

USD

Richmond Manufacturing Index

Forecast Previous -3.2%

-3.1%

64.6

63.4

20

20

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TECHNICAL VIEW GOLD(JUNE) Trend Strategy

• Bullish • Buy on dips

SILVER(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -22480 • R1 -22170

Resistance

• R2 - 72700 • R1 - 71350

support

• S1 -21880 • S2 -21650

support

• S1 - 69100 • S2 - 67350

COPPER(APR) Trend Strategy

• Consolidate • Buy on dips

CRUDE(MAY MAY) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 - 434 • R1 - 425

Resistance

• R2 - 5190 • R1 - 5080

support

• S1 - 418 • S2 - 411

support

• S1 - 4935 • S2 - 4850

NATURALGAS(APR) Trend Strategy

• Consolidate • Sell on high

LEAD(APR)) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 209 •R1 - 201

Resistance

• R2 - 118.3 • R1 - 114.7

support

•S1 - 187 •S2 - 179

support

• S1 - 110.8 •S2 - 107.5

ZINC(APR) Trend Strategy

• Consolidate • Sell on high

NICKEL(APR R) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 107.2 •R1 - 104.5

Resistance

•R2 - 1217 •R1 - 1187

support

•S1 - 100.7 •S2 - 98.5

support

•S1 - 1153 •S2 - 1118

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ALUMINIUM(APR) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 125.7 •R1 - 122.3

support

•S1 - 119.3 •S2 - 116.5

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