Daily Newsletter-Commodity 14/09/2011
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MARKET WRAP Gold prices rose in volatile trade on Tuesday Euro slips against dollar Copper up on weak dollar Copper stocks in LME-approved warehouses rose 875 tonnes Brent crude oil weakened on Tuesday Gold prices rose in volatile trade on Tuesday after briefly extending the previous session's 2.5 percent slide below $1,800 an ounce, as the dollar pared some of its early gains versus the euro, taking some pressure off the precious metal. Copper rose on Tuesday as a weak dollar helped underpin prices, although further gains were capped by growing concerns about the euro zone debt crisis, which raised fears about the region's growth prospects.
ECONOMIC CALENDAR Date
Time
Currency
Economic Data
Forecast Previous
Wed Sep 14
2:30pm
EUR
Industrial Production m/m
1.5%
-0.7%
6:00pm
USD
Core Retail Sales m/m
0.2%
0.5%
6:00pm
USD
PPI m/m
-0.1%
0.2%
6:00pm
USD
Retail Sales m/m
0.2%
0.5%
6:00pm
USD
Core PPI m/m
0.2%
0.4%
6:00pm
USD
Treasury Sec Geithner Speaks
7:30pm
USD
Business Inventories m/m
0.4%
0.3%
8:00pm
USD
Crude Oil Inventories
-3.1M
-4.0M
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TECHNICAL VIEW GOLD(OCT) Trend Strategy
• Bullish • Buy on dips
SILVER(DEC) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 28550 • R1 - 28280
Resistance
• R2 - 66450 • R1 - 65470
support
• S1 - 27580 • S2 - 27150
support
• S1 - 63450 • S2 - 61800
COPPER(NOV) Trend Strategy
• Consolidate • Buy on dips
CRUDE(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
• R2 - 431 • R1 - 423
Resistance
• R2 - 4370 • R1 - 4285
support
• S1 - 409 • S2 - 401
support
• S1 - 4120 • S2 - 4040
NATURALGAS(SEP) Trend Strategy
• Consolidate • Sell on high
LEAD(SEP) Trend
Strategy
• Consolidate • Sell on high
Resistance
•R2 - 203 •R1 - 196
Resistance
• R2 - 119.5 • R1 - 116.7
support
•S1 -183 •S2 -175
support
• S1 - 112.8 •S2 - 108.5
ZINC(SEP) Trend Strategy
• Consolidate • Sell on high
NICKEL(SEP) Trend Strategy
• Consolidate • Buy on dips
Resistance
•R2 - 106.5 •R1 - 104.7
Resistance
•R2 - 1075 •R1 - 1048
support
•S1 - 100.6 •S2 - 96.5
support
•S1 - 983 •S2 - 950
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ALUMINIUM(SEP) Trend Strategy
• Consolidate • Sell on high
Resistance
•R2 - 114.5 •R1 - 112.3
support
•S1 - 109.8 •S2 - 107.5
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