today commodity market report 02-07-2014
DESCRIPTION
Gold futures rose to a 14-week high,Silver futures for September delivery rose 0.3 percent,Copper prices climbed to a 16-week high,Aluminum and lead fell, while nickel and tin gainedTRANSCRIPT
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MARKET WRAP
Gold futures rose to a 14-week high
Silver futures for September delivery rose 0.3 percent
Copper prices climbed to a 16-week high
Aluminum and lead fell, while nickel and tin gained.
Gold futures rose to a 14-week high as the dollar’s decline boosted demand for the
precious metal as an alternative investment. Silver futures for September delivery
rose 0.3 percent to $21.117 an ounce on the Comex. Earlier, the price reached
$21.275, the highest since March 17. Copper prices climbed to a 16-week high in
London as manufacturing expanded at the fastest pace this year in China, the
world’s largest user of the metal used in pipes and wires.
ECONOMIC CALENDAR Date Time Currency Economic Data Forecast Previous
Wed Jul 2
12:30pm EUR Spanish Unemployment Change -147.3K -111.9K
2:30pm EUR Final GDP q/q 0.2% 0.2%
EUR PPI m/m 0.1% -0.1%
5:00pm USD Challenger Job Cuts y/y 45.5%
5:45pm USD ADP Non-Farm Employment Change
207K 179K
7:30pm USD Factory Orders m/m -0.4% 0.7%
8:00pm USD Crude Oil Inventories -2.2M 1.7M
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TECHNICAL VIEW
GOLD(AUG) SILVER(SEP)
COPPER(AUG) CRUDE(JULY)
NATURALGAS(JULY) LEAD(JULY)
ZINC(JULY) NICKEL(JULY)
• Consolidate
• Buy on dips
Trend
Strategy • R2 - 28250
• R1 - 27880 Resistance
• S1 - 27450
• S2 - 27080 support
• Consolidate
• Sell on high
Trend
Strategy • R2 - 46700
• R1 - 45950 Resistance
• S1 - 44450
• S2 - 43280 support
• Consolidate
• Buy on dips
Trend
Strategy • R2 - 443
• R1 - 435 Resistance
• S1 - 423
• S2 - 415 support
• Consolidate
• Buy on dips
Trend
Strategy • R2 - 6470
• R1 - 6390 Resistance
• S1 - 6270
• S2 - 6210 support
• Consolidate
• Sell on high
Trend
Strategy •R2 - 278
•R1 - 272 Resistance
•S1 - 261
•S2 - 253 support
• Consolidate
• Buy on dips
Trend
Strategy • R2 - 133.7
• R1 - 131.3 Resistance
• S1 - 127.2
•S2 - 125.5 support
• Consolidate
• Buy on dips
Trend
Strategy •R2 - 137.5
•R1 - 133.7 Resistance
•S1 - 131.2
•S2 - 129.3 support
• Consolidate
• Buy on dips
Trend
Strategy •R2 - 1218
•R1 - 1175 Resistance
•S1 - 1113
•S2 - 1082 support
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ALUMINIUM(JULY)
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• Consolidate
• Buy on dips
Trend
Strategy •R2 - 116.3
•R1 - 113.8 Resistance
•S1 - 110.3
•S2 - 108.5 support