US Labor Day

Dear Trader
Please make a note that Monday ,September 3 (Labor Day ) Electronic trading and COMEX , NYMEX ClearPort are unaffected and will run on a normal schedule.

http://www.nymex.com/holida_schedu.aspx

LME Update

LME Update : Aluminum 826725 -1200
Copper 139425 +500
Nickel 24126 +840
Lead 25375 -150
Zinc 65000 -250

Impact; Lme data is positive for Aluminium, Lead and Zinc. Negative for Copper, Nickel

Shanghai Weekly Inventory

Copper -6448,
Aluminum +1518,
Zinc -426

Impact: Data is positive for Copper and Zinc, While Negative for Aluminum

Natural Gas Inventory Update

US NAtural Gas Storage: +43 BCF to 2969

Data Update

Data Update:

US home prices barely increased in the second quarter according to a government agency index released today.
The Office of Federal Housing Enterprise Oversight's House Price Index rose 0.1 pct from the first to second quarters of this year, its lowest quarterly increase since the fourth quarter of 1994.

Data Update

Data Update

GDP ( Annualized) 2Q> Actual 4 % Expect 4.1% Prior 3.4%

Personal Consumption 2Q Actual 1.4 % Expect 1.5% Prior 1.3%

GDP price Index 2Q Actual 2.7 % Expect 2.7% Prior 2.7%

Core PCE Actual 1.3 % Expect 1.4% Prior 1.4%

Initial Jobless Claim Actual 334 K Expect 320K Prior 322

US Data Expected

US Data Expected
6:00 Pm IST
U.S. GDP annualised Q2 Exp 4.10% Prev 3.40%
U.S. GDP deflator Q2 Exp 2.70% Prev 2.70%
U.S. PCE core Q/Q Q2 Exp 1.40% Prev 1.40%
U.S. Personal consumption Q2 Exp 1.50% Prev 1.30%
U.S. Jobless claims Exp N/A Prev 322 K
7:30 PM IST
U.S. House price index Q/Q Q2 Exp 0.30% Prev0.50%

LME Data Update

LME DATA:
Aluminum 827925 -275
Copper 138925 +275
Nickel 23286 -150
Lead 25525 +0
Zinc 65250 +2050


Impact: Data is Positive for Aluminum, Nickel Negative for Copper, Zinc

Crude Inventory

Data update :

Crude: actual -3486 K Expected -600K Previous 1890K
Gasoline Actual -3667 K Expected -2500K Previous -5709K
Distillate:Actual 889K Expected 800K Previous 1356K


Impact: Data is very positive for Crude Oil.

LME Inventory

Following are the base metal inventory updates on the London Metal Exchange as on 29th Aug 2007 at 13.30 hrs IST :-

LME Stocks (t)	Open	In	Out	Closing Stock	On Warrant	Cancelled
Copper	1,35,625	3,025	-	1,38,650	1,31,075	7,575
Aluminum	8,30,800	-	2,600	8,28,200	8,06,850	21,350
Nickel	23,106	330	-	23,436	22,590	846
Zinc	63,075	125	-	63,200	56,550	6,650
Lead	25,750	-	225	25,525	23,625	1,900
Tin	15,690	-	215	15,475	13,255	2,220

Energy

Technical Outlook

Crude Oil chart is displaying bullishness in prices. Candlestick shows slight up trend in the market. The prices closed above short term and medium term EMA’s, which supports bulls. MACD is running flat in negative region. Technically market is positive overall unless any major breakout below 2905

Natural Gas chart is displaying a downtrend of prices Candlestick shows down trend in the market. The prices closed below short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 256

Basemetals

Technical Outlook

Copper chart is displaying a downtrend of prices Candlestick shows down trend in the market. The prices closed below short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 303

Zinc chart is displaying a downtrend of prices Candlestick shows down trend in the market. The prices closed below short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 132.50

Aluminium chart is displaying a downtrend of prices Candlestick shows down trend in the market. The prices closed below short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 105.10

Bullion

Technical Outlook

Gold chart is displaying a range bound movement of prices Candlestick shows flat trend in the market. The prices closed above short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 8936

Silver chart is displaying a downtrend of prices Candlestick shows down trend in the market. The prices closed below short term and medium term EMA’s, which supports bears. MACD is running flat in negative region. Technically market is weak overall unless any major breakout above 16825

Energy Outlook

Natural Gas Sept:

Market is bearish over all, Traders can sell on small pullback for intraday. Supports:230, 227 and 224 , Resistance: 235 and 237

Crude Oil Sept:

Market trading higher on charts, traders can buy on small dips. Major support : 2922 and 2905. Resistance 2969 and 2985

Basemetals Outlook

Aluminium Sept;
Market looking positive on charts, traders can buy on small dips for intraday. Majoru support 103.75 and 102.50. Major resistance 106.25 and 107.50


Copper Nov:
Major support is seen at 303.25 and 301.25, Major resistance 307 and 309. traders can buy on small dips for intra day.

Zinc Sept:
Market trend is looking positive traders can buy on dips. Major support 129 and 126.75. Major resistance 132.50 and 134.15


Nickel Sept:

Market is looking postive on charts, traders can buy on small dips for Intraday. Supports: 1135 and 1115. Resistances: 1179 and 1195

Bullion Outlook

Gold Oct; Long term trend is positive, traders can buy on dips for intra day. Major support 8885 and 8865. Major resistance is 8935 and 8965

Silver Dec: Long term trend is positive, traders can buy on dips for intraday. Major support 16525 and 16420, Major Resistance is 16850 and 16965