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Daily Newsletter Newsletter-Commodity 29/09/2010

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MARKET WRAP Gold hits record as U.S. confidence shrinks Silver climbs to 30-year peak Oil near $77, paring earlier loss Dollar hits fresh five-month low versus euro Copper rises as dollar retreats after consumer data

Gold hit a new record high on Tuesday as a weaker than forecast U.S. consumer confidence reading boosted the metal's safe haven appeal and sent the dollar to fresh five-month lows versus the euro. Silver edged back near a 30-year high. Oil pared an earlier decline to trade near $76 a barrel on Tuesday after a U.S. housing index weakened the dollar and supported equities. Copper rose on Tuesday as the dollar fell after data from the world's largest economy, the United States, showed consumer confidence in September fell to its lowest level since February. Copper prices are up more than 30 percent since early June on expectations of stronger economic and demand growth.

ECONOMIC CALENDAR Date

Time

Currency

Economic Data

Wed Sep 29

2:00am

USD

FOMC Member Warsh Speaks

8:00pm

USD

Crude Oil Inventories

10:45pm

USD

FOMC Member Rosengren Speaks

Forecast Previous

-0.4M

1.0M

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TECHNICAL VIEW GOLD(OCT) Trend Strategy

• Bullish • Buy on dips

SILVER(DEC DEC) Trend Strategy

• Bullish • Buy on dips

Resistance

• R2 -19480 • R1 -19250

Resistance

• R2 - 33850 • R1 - 33180

support

• S1 -19040 • S2 -18850

support

• S1 - 32550 • S2 - 31580

COPPER(NOV) Trend Strategy

• Consolidate • Buy on dips

CRUDE(OCT)) Trend Strategy

• Consolidate • Sell on high

Resistance

• R2 - 372 • R1 - 364

Resistance

• R2 - 3580 • R1 - 3510

support

• S1 - 357 • S2 - 348

support

• S1 - 3410 • S2 - 3330

NATURALGAS(OCT) Trend Strategy

• Consolidate • Sell on high

LEAD(SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 193 •R1 - 184

Resistance

• R2 - 106.3 • R1 - 102.5

support

•S1 - 176 •S2 - 167

support

• S1 - 99.5 •S2 - 96.8

ZINC(SEP) Trend Strategy

• Consolidate • Sell on higher

NICKEL(SEP) NICKEL(SEP Trend Strategy

• Consolidate • Sell on dips

Resistance

•R2 - 102.5 •R1 - 99.8

Resistance

•R2 - 1083 •R1 - 1053

support

•S1 - 96.8 •S2 - 94.7

support

•S1 - 1025 •S2 - 995

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ALUMINIUM(SEP) Trend Strategy

• Consolidate • Buy on dips

Resistance

•R2 - 105.5 •R1 - 103.2

support

•S1 - 101.5 •S2 - 98.6

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