1.
Daily Commodity Report
2nd May 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 29165. It
Gold Silver Crude
(5 Jun-12) (5 May-12) (21 May-12) moved higher to touch an intra-day high of 29293 level. However,
it failed to sustain higher. It moved lower to touch an intra-day low
Open 29,165 54,805 5,510 of 29087. It ended the day with modest losses to close at 29129.
High 29,293 55,837 5,608
The RSI remain placed above its averages, which would lead to
Low 29,087 54,805 5,510
buying support. However, the Stochastic has slipped below its
Close 29,129 55,302 5,600 average and remains placed in the over bought zone. More so the
RSI is also placed in the over bought zone. These conditions
Prev. Close 29,183 55,318 5,514
would lead to regular bouts of profit taking and selling pressure
% Change -0.19% -0.03% 1.56% especially at higher levels. The ADX line and the -DI line are
Source – MCX moving sideways, but the +DI line is placed at 33.02 level
indicating buyers are gaining strength. MCX GOLD faces
resistance at 29212 and 29433, while the supports are placed at
Volume (In 000's)
28960, 28084, 27557, 26517 and 26347 levels.
1/5/2012 30/4/2012 % Chg.
MCX SILVER (5 MAY 12) - Silver opened lower at 54805. It
Gold (gms) 18,031.0 28,191.0 -36.04%
moved higher to touch an intra-day high of 55837 level. However,
Silver (kgs) 180.1 1,389.3 -87.04% it failed to sustain higher. It moved lower to touch an intra-day low
of 54805. It ended the day flat to close at 55302.
Crude (bbl) 8,054.8 9,332.7 -13.69%
Source – MCX The RSI and the Stochastic have moved below their respective
averages. These conditions would lead to selling pressure. The
Turnover (In Lacs) ADX line and +DI line are moving sideways, but –DI line is placed
above the 30 level indicating sellers are gaining strength. MCX
1/5/2012 30/4/2012 % Chg. Silver faces resistance at 55551, 56157, 57737, 61708 and 65159
Gold 526,349.2 820,633.8 -35.86% while the supports are placed at 51029, 50252 and 48562 levels.
Silver 99,938.8 770,823.6 -87.03% MCX CRUDE (19 May 12) - Crude opened lower at 5510 level.
Crude 448,382.6 514,255.8 -12.81% Incidentally, this was the lowest price for the day. It moved higher
to touch an intra-day high of 5608 level. It ended the day with
Source – MCX handsome gains to close at 5600.
Global Market (Nymex - $) The RSI and the Stochastic are placed above their respective
2/5/2012 1/5/2012 % Chg.
averages. These conditions would lead to buying support.
However, both are also placed in the over bought zone, which
Gold (oz) 1,659.20 1,661.70 -0.15% would lead to profit taking, especially at higher levels. The ADX
Silver (oz) 30.90 30.88 0.06% line and –DI line are moving sideways but +DI line is placed
above the 30 level indicating buyers are gaining strength. It faces
Crude (bbl) 105.93 106.16 -0.22% resistance at 5608, 5635 and 5650 while the supports are placed
Dollar Index 78.86 78.82 0.05% at 5550, 5512, 5498 and 5403 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5600 5573 5635 5671 5769 5537 5475 5377
GOLD JUN 12 29129 29170 29252 29376 29582 29046 28964 28758
SILVER MAY 12 55302 55315 55824 56347 57379 54792 54283 53251
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2.
US Economic Calendar:
Wednesday Thursday Friday Monday Tuesday
May 02 May 03 May 04 May 7 May 08
Factory Orders Jobless Claims Employment Situation Consumer Credit NFIB Small Business
Optimism Index
ADP Employment Productivity and Costs Monster Employment 3-Month Bill Auction ICSC-Goldman Store
Report Index Sales
EIA Petroleum Status ISM Non-Mfg Index 6-Month Bill Auction 3-Yr Note Auction
Report
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3.
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