Daily Commodity Report
4th May 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 29219. It
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) moved higher to touch an intra-day high of 29269 level. However,
it failed to sustain higher. It moved lower to touch an intra-day low
Open 29,219 56,705 5,599 of 29114. It ended the day flat to close at 29197.
High 29,269 56,836 5,629
The Stochastic is placed below its average and is still placed in
Low 29,114 56,223 5,516 the over bought zone. More so the RSI is also placed in the over
Close 29,197 56,457 5,523 bought zone. These conditions would lead to regular bouts of
profit taking and selling pressure. However, the RSI is placed
Prev. Close 29,193 56,746 5,596 above its average, which would lead to buying support at lower
% Change 0.01% -0.51% -1.30% levels. The ADX line, +DI line and the -DI line are moving
sideways. The +DI line has slipped below the 30 level indicating
Source – MCX
buyers have booked profits. MCX GOLD faces resistance at
29212 and 29433, while the supports are placed at 28960, 28084,
Volume (In 000's) 27557, 26517 and 26347 levels.
3/5/2012 2/5/2012 % Chg.
MCX SILVER (5 JULY 12) - Silver opened lower at 56705. It
Gold (gms) 32,257.0 29,496.0 9.36% moved higher to touch an intra-day high of 56836 level. However,
it failed to sustain higher. It moved lower to touch an intra-day low
Silver (kgs) 1,502.4 1,404.2 7.00%
of 56223. It ended the day with moderate losses to close at
Crude (bbl) 14,640.9 11,185.5 30.89% 56457.
Source – MCX
The RSI and the Stochastic are placed below their respective
averages. These conditions would lead to selling pressure.
Turnover (In Lacs) However, the Stochastic has moved in the over sold zone, which
3/5/2012 2/5/2012 % Chg. would lead to short covering at lower levels. The ADX line and +DI
line are moving sideways, but –DI line is placed above the 30
Gold 941,461.1 860,649.4 9.39% level indicating sellers are gaining strength. MCX Silver faces
Silver 850,478.7 797,226.5 6.68%
resistance at 57737, 61708 and 65159 while the supports are
placed at 56157, 55551, 51029, 50252 and 48562 levels.
Crude 815,646.5 626,688.9 30.15%
MCX CRUDE (19 May 12) - Crude opened higher at 5599 level. It
Source – MCX
moved higher to touch an intra-day high of 5629 level. However, it
failed to sustain higher and moved lower to touch an intra-day low
Global Market (Nymex - $) of 5523. It ended the day with high losses to close at 5523.
4/5/2012 3/5/2012 % Chg.
The RSI has slipped below its average. The Stochastic is already
Gold (oz) 1,636.20 1,634.20 0.12% placed below its average, which would lead to profit taking and
Silver (oz) 30.12 29.98 0.45%
selling pressure. The ADX line, +DI line and –DI line are moving
sideways. The +DI line has slipped below the 30 level indicating
Crude (bbl) 102.68 102.54 0.14% buyers have booked profits. It faces resistance at 5550, 5608,
Dollar Index 79.18 79.22 -0.06% 5635 and 5650 while the supports are placed at 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 5523 5556 5596 5669 5782 5483 5443 5330
GOLD JUN 12 29197 29193 29273 29348 29503 29118 29038 28883
SILVER JUL 12 56457 56505 56788 57118 57731 56175 55892 55279
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