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    Comex: 6 February 2013

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    - Copper fell on Monday as political turmoil in Europe pushed traders to sell the industrial metal after its recent rally, with the most active copper contract settling lower. - European stocks were mostly lower and borrowing costs rose for Spain and Italy amid political issues, weighing on copper prices. - The report provides trading tips and analysis for various commodities including gold, silver, crude oil, and copper, noting market statistics and an economic calendar.

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    Comex: 6 February 2013

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    - Copper fell on Monday as political turmoil in Europe pushed traders to sell the industrial metal after its recent rally, with the most active copper contract settling lower. - European stocks were mostly lower and borrowing costs rose for Spain and Italy amid political issues, weighing on copper prices. - The report provides trading tips and analysis for various commodities including gold, silver, crude oil, and copper, noting market statistics and an economic calendar.

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    - Copper fell on Monday as political turmoil in Europe pushed traders to sell the industrial metal after its recent rally, with the most active copper contract settling lower. - European stocks were mostly lower and borrowing costs rose for Spain and Italy amid political issues, weighing on copper prices. - The report provides trading tips and analysis for various commodities including gold, silver, crude oil, and copper, noting market statistics and an economic calendar.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views8 pages

    Comex: 6 February 2013

    Uploaded by

    api-196234891
    - Copper fell on Monday as political turmoil in Europe pushed traders to sell the industrial metal after its recent rally, with the most active copper contract settling lower. - European stocks were mostly lower and borrowing costs rose for Spain and Italy amid political issues, weighing on copper prices. - The report provides trading tips and analysis for various commodities including gold, silver, crude oil, and copper, noting market statistics and an economic calendar.

    Copyright:

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    of 8

    COMEX

    tH

    REPORT

    REPORT
    6 FEBRUARY 2013

    NEWS RADAR
    Copper fell Monday as tremors in Europe's financial system pushed traders to cash out of the industrial metal after its recent rally.The most actively traded copper contract, for March delivery, fell 1.60 cents, or 0.4%, to settle at $3.7685 a pound on the Comex division of the New York Mercantile Exchange.European stocks were mostly lower Monday, and closely watched Spanish and Italian government borrowing costs rose amid political turmoil in both countries. Spanish Prime Minister Mariano Rajoy moved to contain a scandal over alleged cash payments to him. In Italy, bank stocks slumped alongside a criminal investigation into derivatives trading.In response, the U.S. dollar gained against the euro. Dollar-denominated copper futures can come under pressure as a rising dollar makes the futures appear more expensive for buyers using other currencies.

    TRADING TIPS
    BUY GOLD ABOVE 1681 TGS 1687/1693 SL 1674 BUY SILVER ABOVE 32.10 TGS 32.35/32.60 SL 31.85 SELL COPPER BELOW 3.7600 TGS 3.7400/3.7200 SL 3.7800 SELL CRUDE BELOW 96.80 TGS 96.40/96.00 SL 97.20

    EXPERT OPINION
    GOLD LOOKS BULLISH SILVER LOOKS BULLISH
    CRUDE LOOKS BEARISH

    COPPER LOOKS BULLISH

    NGAS LOOKS BULLISH LEAD LOOKS BEARISH NICKEL LOOKS BULLISH ALUMINIUM LOOKS BULLISH ZINC LOOKS BEARISH

    GOLD HOURLY CHART

    S1 1673

    S2 1667

    R1 1686

    R2 1692

    GOLD LOOKS BULLISH BUY AROUND 1681.00 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 1687.00 LEVEL AND MAINTAINING SL OF 1675.00

    SILVER HOURLY CHART

    S1 31.70

    S2 31.40

    R1 32.30

    R2 32.70

    SILVER LOOKS BULLISH BUY AROUND 32.10 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 32.35 LEVEL AND MAINTAINING SL OF 31.85

    COPPER HOURLY CHART

    S1 3.7455

    S2 3.7255

    R1 3.7855

    R2 3.7905

    COPPER LOOKS BEARISH ,SELL AROUND 3.7600 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 3.7400 LEVEL AND MAINTAINING SL OF 3.7700

    CRUDE OIL HOURLY CHART

    S1 96.50

    S2 96.10

    R1 97.40

    R2 97.80

    CRUDE LOOKS BEARISH ,SELL AROUND 96.80 LEVEL IS SUGGESTED AND RECOMMENDED TO BOOK PROFIT NEAR 96.40 LEVEL AND MAINTAINING SL OF 97.20

    MARKET STATISTICS
    OPEN GOLD SILVER CRUDE COPPER NGAS ALUMINIUM LEAD NICKEL 1667.45 31.82 97.70 3.7763 3.308 2126.63 2462.50 18610.00 HIGH 1677.38 31.89 97.73 3.7825 3.349 2146.13 2482.38 18765.50 LOW 1661.49 31.36 95.88 3.7518 3.255 2109.26 2442.63 18541.50 CLOSE 1673.69 31.72 96.10 3.7555 3.324 2112.76 2450.50 18635.00

    ECONOMIC CALENDAR

    DATE Feb 6 Feb 6

    CURRENCY GBP USD German Factory Orders m/m Crude Oil Inventories

    FORECAST 0.8%

    PREVIOUS -1.8% 5.9M

    Disclaimer
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