Newsletter-Commodity
Daily Newsletter
08/09/2010
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MARKET WRAP
Oil extends drop to $73 as dollar gains
Copper slips on firm dollar
Gold rises towards $1,260/oz
euro fell 1 percent against the dollar
U.S. stocks fall
Base metals recovers from days low
Gold erased early losses to rise to its highest since late June on Tuesday as investors
returning from the U.S. Labor Day holiday bought the metal as a haven amid concerns
over the health of the European banking system. Oil fell below $74 a barrel on Tuesday
as the dollar strengthened and Tropical Storm Hermine came ashore near the Mexico-
Texas border with no signs of disruption to crude or refining output.
ECONOMIC CALENDAR
Date Time Currency Economic Data Forecast Previous
Wed 11:30am EUR German Trade Balance 12.8B 12.3B
Sep 8
12:15pm EUR French Gov Budget Balance -61.7B
12:15pm EUR French Trade Balance -4.1B -3.8B
1:15pm EUR Buba President Weber Speaks
3:30pm EUR German Industrial Production 1.1% -0.6%
m/m
11:30pm USD Beige Book
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TECHNICAL VIEW
GOLD(OCT) DEC)
SILVER(DEC
Trend • Consolidate Trend • Bullish
• Buy on dips Strategy • Buy on dips
Strategy
• R2 -19480 • R2 - 32380
Resistance Resistance
• R1 -19250 • R1 - 31650
• S1 -19030 • S1 - 31050
support support
• S2 -18850 • S2 - 30380
COPPER(NOV) )
CRUDE(SEP)
Trend • Bullish Trend • Consolidate
Strategy • Buy on dips • Sell on high
Strategy
• R2 - 371 • R2 - 3580
Resistance Resistance
• R1 - 363 • R1 - 3510
• S1 - 354 • S1 - 3410
support support
• S2 - 347 • S2 - 3330
NATURALGAS(SEP) LEAD(SEP)
Trend • Consolidate Trend • Consolidate
Strategy • Sell on higher Strategy • Buy on dips
•R2 - 193 • R2 - 105.5
Resistance Resistance
•R1 - 185 • R1 - 102.8
•S1 - 178 • S1 - 100.3
support support
•S2 - 167 •S2 - 97.8
ZINC(SEP) NICKEL(SEP
NICKEL(SEP)
Trend • Consolidate Trend • Consolidate
Strategy • Buy on dips Strategy • Sell on high
•R2 - 105.7 •R2 - 1068
Resistance Resistance
•R1 - 102.5 •R1 - 1045
•S1 - 99.3 •S1 - 1018
support support
•S2 - 96.4 •S2 - 995
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ALUMINIUM(SEP)
Trend • Consolidate
Strategy • Buy on dips
•R2 - 104.5
Resistance
•R1 - 101.7
•S1 - 99.2
support
•S2 - 97.5
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