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Daily Newsletter Commodity 23-10-2012

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Daily Newsletter Commodity 23-10-2012 Powered By Docstoc
					Daily Newsletter-Commodity
23/10/2012




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                          MARKET WRAP
         Gold rebounds above key support on physical buying
         Silver gained 0.7 percent to $32.27 an ounce
         Copper slides to 1-month low after weak Japan export data
         Aluminium output remains high
         Oil dips on economy worry

Gold prices climbed on Monday, partially recovering from the previous session's biggest
one-day drop in more than three months, boosted by technical buying and better Indian
physical demand following the recent price drop. Copper hit the lowest in more than a
month on Monday after a bigger than expected fall in Japan's exports, reflecting the
global economic slowdown and curbing investors' appetite for assets perceived as risky.
Oil prices edged lower in choppy trading on Monday as economic concerns and expected
production and pipeline restarts offset fears about Middle East turmoil and the potential
threat to the region's supply.




                   ECONOMIC CALENDAR
 Date       Time      Currency           Economic Data               Forecast Previous

 Tue       2:00pm        GBP     BBA Mortgage Approvals                30.9K        30.5K
Oct 23
           6:30pm        EUR     Belgium NBB Business Climate          -10.8        -11.6
           7:30pm        EUR     Consumer Confidence                    -26          -26
           7:30pm        USD     Richmond Manufacturing Index            3            4
          10:30pm        GBP     BOE Gov King Speaks




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                                                     info@capitalheight.com
                                                      Phone- (0731)4295950



                    TECHNICAL VIEW
             GOLD(DEC)                         SILVER(DEC)

  Trend         • Consolidate      Trend          • Consolidate
                • Buy on dips     Strategy        • Buy on dips
 Strategy
                • R2 - 31650                      • R2 - 62800
Resistance                        Resistance
                • R1 - 31380                      • R1 - 61250
                • S1 - 30750                      • S1 - 59250
 support                           support
                • S2 - 30530                      • S2 - 57680


             COPPER(NOV)                       CRUDE(NOV)

  Trend        • Consolidate       Trend         • Consolidate
Strategy       • Sell on high                    • Sell on high
                                 Strategy
               • R2 - 443                        • R2 - 5010
Resistance                       Resistance
               • R1 - 435                        • R1 - 4915
               • S1 - 423                        • S1 - 4780
 support                          support
               • S2 - 415                        • S2 - 4710


          NATURALGAS(OCT)                       LEAD(OCT)

  Trend         • Consolidate      Trend          • Consolidate
 Strategy       • Buy on dips     Strategy        • Sell on high
                •R2 - 205                         • R2 - 115.3
Resistance                        Resistance
                •R1 - 198                         • R1 - 112.8
                •S1 -187                          • S1 - 109.4
 support                           support
                •S2 -179                          •S2 - 106.5


             ZINC(OCT)                         NICKEL(OCT)

  Trend         • Consolidate      Trend          • Consolidate
 Strategy       • Sell on high    Strategy        • Sell on high
                •R2 - 103.5                       •R2 - 958
Resistance                       Resistance
                •R1 - 100.8                       •R1 - 915
                •S1 - 96.5                        •S1 - 873
 support                           support
                •S2 - 93.8                        •S2 - 835


                                                          www.capitalheight.com
                                                                                                          info@capitalheight.com
                                                                                                           Phone- (0731)4295950



                  ALUMINIUM(OCT)

           Trend              • Consolidate
         Strategy             • Sell on high
                              •R2 - 109.5
         Resistance
                              •R1 - 106.6
                              •S1 - 103.5
           support
                              •S2 - 101.5




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