Daily Newsletter-Commodity
03/02/2012
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MARKET WRAP
Gold headed for 5th winning week
US new claims for unemployment benefits fell more than expected last week
U.S. crude oil rose towards $97 a barrel on Friday
Copper slide more than 1%
Lead slide sharply on Thursday 4%
U.S. crude oil rose towards $97 a barrel on Friday, supported by positive U.S.
unemployment data and hopes for a deal this week between the EU and Greece on the
country's debt. Gold prices held steady on Friday, on course for a fifth straight week of
gains, as investors await a key U.S. labour market report after upbeat jobless claims data
in the previous session helped send spot gold to a two-month high.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Fri 2:30pm EUR Final Services PMI 50.5 50.5
Feb 3
3:30pm EUR Retail Sales m/m 0.4% -0.8%
3:30pm EUR Italian Prelim CPI m/m 0.2% 0.4%
7:00pm USD Non-Farm Employment Change 150K 200K
7:00pm USD Unemployment Rate 8.5% 8.5%
7:00pm USD Average Hourly Earnings m/m 0.2% 0.2%
8:30pm USD ISM Non-Manufacturing PMI 53.1 52.6
8:30pm USD Factory Orders m/m 1.5% 1.8%
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TECHNICAL VIEW
GOLD(APR) SILVER(MAR)
Trend • Consolidate Trend • Consolidate
• Buy on dips Strategy • Buy on dips
Strategy
• R2 - 28950 • R2 - 59900
Resistance Resistance
• R1 - 28680 • R1 - 57720
• S1 - 28120 • S1 - 55900
support support
• S2 - 27850 • S2 - 53800
COPPER(FEB) CRUDE(FEB)
Trend • Consolidate Trend • Consolidate
Strategy • Sell on high • Sell on high
Strategy
• R2 - 428 • R2 - 4930
Resistance Resistance
• R1 - 421 • R1 - 4815
• S1 - 408 • S1 - 4710
support support
• S2 - 399 • S2 - 4630
NATURALGAS(FEB) LEAD(FEB)
Trend • Bearish Trend • Consolidate
Strategy • Sell on high Strategy • Sell on high
•R2 - 137 • R2 - 111.5
Resistance Resistance
•R1 - 128 • R1 - 118.3
•S1 -116 • S1 - 104.7
support support
•S2 -107 •S2 - 101.5
ZINC(FEB) NICKEL(FEB)
Trend • Consolidate Trend • Consolidate
Strategy • Sell on high Strategy • Buy on dips
•R2 - 108.5 •R2 - 1083
Resistance Resistance
•R1 - 105.3 •R1 - 1047
•S1 - 101.2 •S1 - 1005
support support
•S2 - 98.5 •S2 - 975
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ALUMINIUM(FEB)
Trend • Consolidate
Strategy • Sell on high
•R2 - 111.8
Resistance
•R1 - 108.5
•S1 - 106.2
support
•S2 - 104.2
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