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Daily Newsletter Newsletter-Commodity 08/12/2010

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MARKET WRAP Crude Oil hits two-year high above $90 a barrel Gold retreated from record highs on Tuesday Silver touches highest since 1980 above $30.65/oz Copper hits record on supply worries

Oil pared gains on Tuesday after earlier touching a more than two-year high above $90 a barrel as the dollar fell and the freeze in Europe and the United States stoked fuel demand. Gold retreated from record highs on Tuesday as traders cashed in some gains, but the prospect of more U.S. monetary easing and investor nervousness over the European debt crisis still firmly underpinned the market. Copper rallied to a record high on Tuesday above $9,000 a tonne on rising demand expectations for 2011 against a backdrop of tight supply.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Wed Dec 8

1:30am

USD

Consumer Credit m/m

All Day

EUR

Italian Bank Holiday

12:30pm

EUR

German Trade Balance

1:15pm

EUR

French Gov Budget Balance

1:15pm

EUR

French Trade Balance

-4.2B

-4.7B

4:30pm

EUR

1.1%

-0.8%

9:00pm

USD

German Industrial Production m/m Crude Oil Inventories

-1.3M

1.1M

9:30pm

EUR

Buba President Weber Speaks

-0.9B

2.1B

15.1B

15.6B -124.2B

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TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Bullish • Buy on dips

SILVER(MAR MAR) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -21150 • R1 -20830

Resistance

• R2 - 46750 • R1 - 45750

support

• S1 -20630 • S2 -20350

support

• S1 - 44150 • S2 - 43250

COPPER(FEB) Trend Strategy

• Consolidate • Buy on dips

CRUDE(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 417 • R1 - 409

Resistance

• R2 - 4110 • R1 - 4040

support

• S1 - 399 • S2 - 391

support

• S1 - 3930 • S2 - 3850

NATURALGAS(DEC) Trend Strategy

• Consolidate • Sell on high

LEAD(DEC)) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 213 •R1 - 207

Resistance

• R2 - 110.5 • R1 - 108.3

support

•S1 - 195 •S2 - 187

support

• S1 - 105.5 •S2 - 101.8

ZINC(DEC) Trend Strategy

• Consolidate • Sell on high

NICKEL(DEC) NICKEL(DEC Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.3 •R1 - 104.5

Resistance

•R2 - 1123 •R1 - 1091

support

•S1 - 101.3 •S2 - 98.8

support

•S1 - 1057 •S2 - 1018

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ALUMINIUM(DEC) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.5 •R1 - 105.2

support

•S1 - 102.5 •S2 - 100.7

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