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Daily Newsletter Newsletter-Commodity 11/11/2010

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MARKET WRAP Gold's latest bubble pops as dollar rises vs euro Silver tumbles in New York Oil up on surprise U.S. crude stock draw Dollar index rises for fourth consecutive day Copper weaker on firm dollar

Gold prices surrendered gains to turn lower on Wednesday and silver retreated from its earlier 5 percent climb, as the euro wilted versus the dollar amid fresh concerns over euro zone sovereign debt levels. Oil rose above $87 per barrel on Wednesday after U.S weekly oil data showed a surprise fall in crude inventories and larger than expected drops in oil product stocks. Crude stocks fell 3.27 million barrels in the week to Nov. 5. Copper fell 1 percent in London on Wednesday as the market retreated from near record highs under the weight of a firm dollar, weak Chinese import data and concerns recent commodity price gains were too steep.

ECONOMIC CALENDAR Date

Time

Thu 12:30am Nov 11 Day 1

Currency

Economic Data

USD

Federal Budget Balance

ALL

G20 Meetings

All Day

EUR

French Bank Holiday

2:30pm

EUR

ECB Monthly Bulletin

All Day

USD

Bank Holiday

Forecast Previous -151.5B

-34.5B

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TECHNICAL VIEW GOLD(DEC) Trend Strategy

• Bullish • Buy on dips

SILVER(DEC DEC) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -20530 • R1 -20270

Resistance

• R2 - 41750 • R1 - 40850

support

• S1 -20030 • S2 -19850

support

• S1 - 39550 • S2 - 38750

COPPER(NOV) Trend Strategy

• Bullish • Buy on dips

CRUDE(NOV) CRUDE(NOV Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 405 • R1 - 397

Resistance

• R2 - 4020 • R1 - 3930

support

• S1 - 387 • S2 - 381

support

• S1 - 3850 • S2 - 3770

NATURALGAS(NOV)) Trend Strategy

• Consolidate • Sell on high

LEAD(NOV) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 198 •R1 - 190

Resistance

• R2 - 118.3 • R1 - 115.6

support

•S1 - 177 •S2 - 169

support

• S1 - 111.8 •S2 - 109.5

ZINC(NOV) Trend Strategy

• Consolidate • Sell on high

NICKEL(NOV) NICKEL(NOV Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 116.3 •R1 - 113.5

Resistance

•R2 - 1125 •R1 - 1095

support

•S1 - 110.2 •S2 - 107.4

support

•S1 - 1065 •S2 - 1033

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ALUMINIUM(NOV) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 110.7 •R1 - 108.8

support

•S1 - 106.7 •S2 - 104.3

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