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Daily Newsletter Newsletter-Commodity 11/01/2011

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MARKET WRAP Gold rises above $1,370/oz Dollar turns lower versus currency basket Copper down as EU debt worries Oil jumps 2.2 pct on Alaska pipeline leak Zinc falls nearly 3 pct

Oil rose over 1 percent on Monday after a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output, but gains were capped by a stronger dollar due to worries about Portugal's debt. Gold rose above $1,370 an ounce on Monday as the dollar moved into negative territory versus the euro, and as concerns over the outlook for Portugal's sovereign debt lifted the metal's appeal as a haven from risk. Copper fell 1 percent on Monday, as investors worried about sovereign debt in Europe and a rising dollar made metals costlier for non-U.S. buyers, denting demand from top consumer China.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Tue Jan 11

5:31am

GBP

BRC Retail Sales Monitor y/y

10:30am

JPY

Leading Indicators

7:00pm

USD

FOMC Member Plosser Speaks

8:30pm

USD

8:30pm

USD

Forecast Previous 0.7% 100.9%

97.2%

IBD/TIPP Economic Optimism

47.1

45.8

Wholesale Inventories m/m

1.1%

1.9%

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TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Consolidate • Buy on dips

SILVER(MAR MAR) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -20890 • R1 -20580

Resistance

• R2 - 45600 • R1 - 44850

support

• S1 -20250 • S2 -20030

support

• S1 - 43500 • S2 - 42650

COPPER(FEB) Trend Strategy

• Consolidate • Buy on dips

CRUDE(JAN)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 446 • R1 - 438

Resistance

• R2 - 4170 • R1 - 4110

support

• S1 - 427 • S2 - 418

support

• S1 - 4020 • S2 - 3930

NATURALGAS(JAN) Trend Strategy

• Consolidate • Sell on high

LEAD(JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 213 •R1 - 205

Resistance

• R2 - 123.5 • R1 - 120.1

support

•S1 - 193 •S2 - 186

support

• S1 - 116.9 •S2 - 113.5

ZINC(JAN) Trend Strategy

• Consolidate • Sell on high

NICKEL(JAN) NICKEL(JAN Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 113.5 •R1 - 110.2

Resistance

•R2 - 1125 •R1 - 1097

support

•S1 - 107.3 •S2 - 104.5

support

•S1 - 1073 •S2 - 1046

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ALUMINIUM(JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 116.5 •R1 - 114.1

support

•S1 - 111.3 •S2 - 108.7

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