WEEKLY COMMODITY REPORT BY EPIC RESEARCH-12 NOVEMBER 2012
WEEKLY COMMODITY REPORT 12TH NOVEMBER 2012WWW.EPICRESEARCH.CO 9752199966
HEADLINES LME Lead tumbles on profit-taking; but analysts say fundamentals still strong. Lead fell more than other base metals on Friday, yet analysts said that it has a more favorable fundamental TRADING TIP: backdrop. Lead fell $59, or 2.7%, to $2,149 a metric ton on the London Metal Exchange. Buy Crude Oil Nov “Fridays move was a clear initiative to take some profit from recent gains…but the strong fundamentals should Above 4730 continue to play and allow the metal a strong support. Lead is now above all of the key moving averages. TGTS-4780/4850 Lead may outperform Base Metal complex into SL-4690 year-end. With stocks-to-consumption ratio fallling to its lowest level since 2010 at just over two weeks, Epic ResearchBuy Copper Nov believes that lead will outperform the complex into year-end. After a pullback in line with broader marketAbove 418.40 trend in October, early November has seen a resurgence in lead prices largely independent of the rest of theTGTS-422/427 complex. Front-end LME time spreads have also moved into backwardation in October and are currently at theSL- 414.20 tightest in 12 months.WWW.EPICRESEARCH.CO 9752199966
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