Dear All,
BASE METAL WRAP: Copper dropped after data showed that first-half
expansions in most provinces in China missed targets, reinforcing
concern that demand growth may slow in the world’s largest consumer.
ENERGY WRAP: West Texas Intermediate oil fell for a third day,
trimming the biggest monthly advance in almost a year before a
government report that may show U.S. economic growth slowed in the second quarter.
PRECIOUS METAL WRAP: Gold traded little changed as U.S. Federal Reserve policy
makers start a two-day meeting today amid speculation that the central bank may
begin to taper its unprecedented stimulus program in the coming months.
GLOBAL EVENTS TO WATCH: Building Approvals m/m, RBA Gov Stevens Speaks, S&P/CS
Composite-20 HPI y/y, CB Consumer Confidence.
BASE METAL WRAP: Copper dropped after data showed that first-half
expansions in most provinces in China missed targets, reinforcing
concern that demand growth may slow in the world’s largest consumer.
ENERGY WRAP: West Texas Intermediate oil fell for a third day,
trimming the biggest monthly advance in almost a year before a
government report that may show U.S. economic growth slowed in the second quarter.
PRECIOUS METAL WRAP: Gold traded little changed as U.S. Federal Reserve policy
makers start a two-day meeting today amid speculation that the central bank may
begin to taper its unprecedented stimulus program in the coming months.
GLOBAL EVENTS TO WATCH: Building Approvals m/m, RBA Gov Stevens Speaks, S&P/CS
Composite-20 HPI y/y, CB Consumer Confidence.
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CS COPPER (AUG)
OVERVIEW:
TREND CONSOLIDATE
SUP1: 405.00
SUP2: 402.30,
RESIST1:413.00,
RESIST2:414.60,
TRADING
STRATEGY: BUY ON DIPS.
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