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Daily Newsletter Newsletter-Commodity 26/10/2010

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MARKET WRAP Gold rose about 1 percent U.S. existing home sales rise more than expected Oil rises to $83 as dollar weakens Dollar slips V/S euro Copper at 27-month top on dollar Lead and zinc hit 9-month tops on China shutdowns

Copper rose to a 27-month high above $8,500 a tonne on Monday as the dollar sank after a weekend G20 meeting, while investors took comfort from falling stocks and strong demand in top consumer China. Oil jumped by more than a dollar to around $83 a barrel on Monday, gaining for a second session as the U.S. currency weakened after a Group of 20 meeting and strikes in France disrupted oil supplies.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Tue Oct 26

2:00am

USD

FOMC Member Dudley Speaks

5:30am

USD

FOMC Member Hoenig Speaks

11:30am

EUR

GfK German Consumer Climate

11:30am

EUR

6:30pm

Forecast Previous

5.2

4.9

German Import Prices m/m

0.1%

0.2%

USD

S&P/CS Composite-20 HPI y/y

2.4%

3.2%

7:30pm

USD

CB Consumer Confidence

49.3

48.5

7:30pm

USD

HPI m/m

-0.2%

-0.5%

7:30pm

USD

Richmond Manufacturing Index

-1

-2

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TECHNICAL VIEW GOLD(DEC) Trend Strategy

• Consolidate • Buy on dips

SILVER(DEC DEC) Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 -19950 • R1 -19620

Resistance

• R2 - 36350 • R1 - 35750

support

• S1 -19350 • S2 -19080

support

• S1 - 34850 • S2 - 34180

COPPER(NOV) Trend Strategy

• Bullish • Buy on dips

CRUDE(NOV) CRUDE(NOV Trend Strategy

• Consolidate • Buy on dips

Resistance

• R2 - 389 • R1 - 382

Resistance

• R2 - 3790 • R1 - 3720

support

• S1 - 375 • S2 - 367

support

• S1 - 3610 • S2 - 3525

NATURALGAS(OCT) Trend Strategy

• Bearish • Sell on high

LEAD(OCT)) Trend Strategy

• Bullish • Buy on dips

Resistance

•R2 - 161 •R1 - 153

Resistance

• R2 - 116.5 • R1 - 114.1

support

•S1 - 144 •S2 - 137

support

• S1 - 111.3 •S2 - 108.5

ZINC(OCT) Trend Strategy

• Bullish • Buy on dips

NICKEL(OCT) NICKEL(OCT Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 117.3 •R1 - 114.1

Resistance

•R2 - 1085 •R1 - 1065

support

•S1 - 110.3 •S2 - 107.5

support

•S1 - 1033 •S2 - 1005

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ALUMINIUM(OCT) Trend Strategy

• Consolidate • Sell on high

Resistance

•R2 - 107.9 •R1 - 105.7

support

•S1 - 103.7 •S2 - 101.3

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