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Daily Newsletter Newsletter-Commodity 14/12/2010

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MARKET WRAP U.S., Europe cold weather lifts oil demand Silver up more than 2.5% Gold gains from dollar weakness Copper hits record highs on China

Copper hit successive record highs on Monday, boosted by economic prospects for top consumer China, and supply concerns that could propel prices even higher. Oil rose on Monday as strong Chinese economic data lifted commodities even as the country's soaring inflation did not lead to an interest rate hike to cool the economy. Gold extended gains above $1,390 an ounce in Europe on Monday as the dollar surrendered early gains against the euro, and as last week's price dip of more than 2 percent brought physical buyers back to the market.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Tue Dec 14

12:00am

EUR

ECB President Trichet Speaks

3:30pm

EUR

Industrial Production m/m

1.4%

-0.7%

3:30pm

EUR

ZEW Economic Sentiment

10.3

13.8

7:00pm

USD

Core Retail Sales m/m

0.7%

0.4%

7:00pm

USD

PPI m/m

0.6%

0.4%

7:00pm

USD

Retail Sales m/m

0.6%

1.2%

7:00pm

USD

Core PPI m/m

0.2%

-0.6%

8:30pm

USD

Business Inventories m/m

0.9%

0.9%

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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 -20650

Resistance

• R2 - 45750 • R1 - 44850

support

• S1 -20420 • S2 -20150

support

• S1 - 43850 • S2 - 42950

COPPER(FEB) Trend Strategy

• Bullish • Buy on dips

CRUDE(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 433 • R1 - 424

Resistance

• R2 - 4120 • R1 - 4040

support

• S1 - 416 • S2 - 405

support

• S1 - 3940 • S2 - 3850

NATURALGAS(DEC) Trend Strategy

• Consolidate • Sell on high

LEAD(DEC)) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 213 •R1 - 206

Resistance

• R2 - 114.5 • R1 - 110.8

support

•S1 - 195 •S2 - 186

support

• S1 - 107.8 •S2 - 105.5

ZINC(DEC) Trend Strategy

• Consolidate • Buy on dips

NICKEL(DEC) NICKEL(DEC Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 108.5 •R1 - 105.7

Resistance

•R2 - 1157 •R1 - 1123

support

•S1 - 103.8 •S2 - 100.5

support

•S1 - 1087 •S2 - 1054

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ALUMINIUM(DEC) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.5 •R1 - 105.8

support

•S1 - 103.2 •S2 - 100.7

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