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Daily Newsletter Newsletter-Commodity 24/01/2011

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MARKET WRAP Gold prices fell for a second day on Friday Silver prices had earlier hit a seven-week low at $27.10 an ounce Copper bounced nearly one percent on Friday The weak dollar on Friday Nickel closes higher on Friday Gold prices fell for a second day on Friday as a stronger appetite for riskier assets such as equities and an improving economic outlook diminished safe-haven buying, more than offsetting a weaker dollar. Copper bounced nearly one percent on Friday, snapping a two-day slide that dragged prices to their lowest level in a month, as the dollar weakened and on worries about more monetary tightening in top-consumer China abated. Bullion notched a third consecutive weekly loss, its longest since July.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Forecast Previous

Mon 1:30pm Jan 24 1:30pm

EUR

French Flash Manufacturing PMI

56.8

57.2

EUR

French Flash Services PMI

55.2

54.9

2:00pm

EUR

German Flash Manufacturing PMI

61.1

60.7

2:00pm

EUR

German Flash Services PMI

59.2

59.2

2:30pm

EUR

Flash Manufacturing PMI

57.1

57.1

2:30pm

EUR

Flash Services PMI

54.2

54.2

3:30pm

EUR

Industrial New Orders m/m

2.3%

1.4%

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TECHNICAL VIEW GOLD(FEB) Trend Strategy

• Consolidate • Sell on high

SILVER(MAR MAR) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 -20350 • R1 -20180

Resistance

• R2 - 44100 • R1 - 43350

support

• S1 -19920 • S2 -19650

support

• S1 - 42350 • S2 - 41550

COPPER(FEB) Trend Strategy

• Consolidate • Buy on dips

CRUDE(FEB)) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 449 • R1 - 442

Resistance

• R2 - 4230 • R1 - 4150

support

• S1 - 431 • S2 - 423

support

• S1 - 4060 • S2 - 3990

NATURALGAS(JAN) Trend Strategy

• Consolidate • Buy on dips

LEAD(JAN) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 231 •R1 - 223

Resistance

• R2 - 117.3 • R1 - 114.7

support

•S1 - 209 •S2 - 201

support

• S1 - 111.5 •S2 - 108.3

ZINC(JAN) Trend Strategy

• Consolidate • Sell on high

NICKEL(JAN) NICKEL(JAN Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 110.5 •R1 - 107.8

Resistance

•R2 - 1233 •R1 - 1205

support

•S1 - 104.5 •S2 - 101.3

support

•S1 - 1175 •S2 - 1148

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ALUMINIUM(JAN) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 113.2 •R1 - 110.5

support

•S1 - 108.3 •S2 - 105.7

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