2. NEWS RADAR
Gold rose for a second straight session on Tuesday, buoyed by strong
physical buying in Asia after traders in China returned from a week-long
break, but the lack of interest from Western investors and a firm dollar
kept a lid on gains. Gold dropped by a steep 3 percent last week --
biggest such drop in nine months -- and Chinese traders rushed to pick
up bar gains when they resumed business this week, sending volumes
on Shanghai Gold Exchange to record highs on Monday. But the frenzy
can be short-lived, traders cautioned. "The rebound is very weak," said
Chen Min, an analyst at Jinrui Futures in the southern Chinese city of
Shenzhen. "Investors would rather put money elsewhere when the U.S.
is recovering and the euro zone economy seems to be on the mend.
Chances are small that prices will rally soon as the sentiment has turned
bearish, and we may see the decline of prices into mid-year slack
consumption season."
Chen expected prices to drop to $1,500-$1,550 an ounce by
mid-year.
TRADING TIPS EXPERT OPINION
BUY GOLD AROUND 1615 GOLD LOOKS BULLISH
TGS 1621/1627 SL 1609 SILVER LOOKS BULLISH
BUY SILVER AROUND 30.15 CRUDE OIL LOOKS BEARISH
TGS 30.35/30.55 SL 29.95 COPPER LOOKS BEARISH
SELL COPPER AROUND NGAS LOOKS BULLISH
3.6850 TGS 3.6650/3.6450 LEAD LOOKS BEARISH
SL 3.7050 NICKEL LOOKS BEARISH
SELL CRUDE BELOW 95.20 ALUMINIUM LOOKS BEARSIH
TGS 94.80/94.40 SL 95.60 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1606 1600 1618 1624
GOLD LOOKS BULLISH BUY AROUND 1615.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1621.00 LEVEL AND
MAINTAINING SL OF 1609.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
29.77 29.47 30.37 30.67
SILVER LOOKS BULLISH BUY AROUND 30.15 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 30.35 LEVEL AND MAINTAINING SL
OF 29.95
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.6358 3.6185 3.6758 3.6958
COPPER LOOKS BEARISH SELL BELOW 3.6850
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.6650 LEVEL AND
MAINTAINING SL OF 3.7050
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
95.24 95.04 95.64 95.84
CRUDE LOOKS BEARISH SELL AROUND 95.20 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 94.80 LEVEL AND MAINTAINING SL
OF 95.60
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1609.60 1618.62 1606.94 1609.92
SILVER 29.81 30.15 29.77 29.94
CRUDE 95.90 95.97 95.24 95.47
COPPER 3.7368 3.7390 3.6723 3.6788
NGAS 3.161 3.174 3.130 3.168
ALUMINIUM 2160.38 2160.63 2113.01 2121.13
LEAD 2436.25 2436.88 2390.13 2399.13
NICKEL 17895.00 17965.00 17606.50 17610.50
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Feb 20 USD Building Permits 0.92M 0.91M
Feb 20 USD PPI m/m 0.3% -0.2%
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