Daily commodity news letter by capital height 17 09-10

1. Daily Newsletter
Newsletter-Commodity
17/09/2010
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MARKET WRAP
Gold scored a record high above $1,275
Oil dips towards $75 ahead of U.S. pipeline restart
U.S. jobless claims drops
Euro up V/s Dollar
Copper rises on softer dollar
Gold scored a record high above $1,275 per ounce on Thursday, as currency market
jitters and broader economic uncertainty enticed more investors towards the metal's
safe-haven credentials. Oil fell for a third day on Thursday ahead of the expected
reopening of a North American pipeline that will restore crude supplies to U.S. refiners.
Copper firmed above $7,700 to a near two week high on Thursday lifted by a softer
dollar and fund buying, while U.S. jobless data fell but remained high.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Fri 11:30am EUR German PPI m/m 0.3% 0.5%
Sep 17
1:00pm EUR Buba President Weber Speaks
1:30pm EUR Current Account -3.7B -4.6B
6:00pm USD Core CPI m/m 0.1% 0.1%
6:00pm USD CPI m/m 0.3% 0.3%
7:25pm USD Prelim UoM Consumer 70.3 68.9
Sentiment
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TECHNICAL VIEW
GOLD(OCT) SILVER(DEC
DEC)
Trend • Bullish Trend • Bullish
• Buy on dips Strategy • Buy on dips
Strategy
• R2 -19480 • R2 - 33150
Resistance Resistance
• R1 -19250 • R1 - 32580
• S1 -19040 • S1 - 31850
support support
• S2 -18850 • S2 - 31180
COPPER(NOV) CRUDE(SEP)
)
Trend • Consolidate Trend • Consolidate
Strategy • Buy on dips • Sell on high
Strategy
• R2 - 363 • R2 - 3570
Resistance Resistance
• R1 - 357 • R1 - 3490
• S1 - 351 • S1 - 3410
support support
• S2 - 343 • S2 - 3330
NATURALGAS(SEP) LEAD(SEP)
Trend • Consolidate Trend • Consolidate
Strategy • Buy on dips Strategy • Sell on high
•R2 - 195 • R2 - 105.8
Resistance Resistance
•R1 - 188 • R1 - 103.5
•S1 - 178 • S1 - 100.3
support support
•S2 - 167 •S2 - 98.5
ZINC(SEP) NICKEL(SEP)
NICKEL(SEP
Trend • Consolidate Trend • Consolidate
Strategy • Sell on high Strategy • Buy on dips
•R2 - 102.7 •R2 - 1110
Resistance Resistance
•R1 - 100.5 •R1 - 1083
•S1 - 97.7 •S1 - 1052
support support
•S2 - 95.5 •S2 - 1018
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ALUMINIUM(SEP)
Trend • Consolidate
Strategy • Sell on dips
•R2 - 101.5
Resistance
•R1 - 99.5
•S1 - 97.2
support
•S2 - 94.5
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