1. Daily Commodity Outlook
5th October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26798. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Oct-11) higher to touch 27044 during intra-day. However, it failed to sustain
higher due to sustained selling pressure and lack of follow up buying
Open 26798 52190 3822 support. It touched an intra-day low of 25931. It ended the day with
High 27044 52750 3860 large losses to close at 26010 level.
Low 25931 49809 3723
The RSI has slipped below its average. Moreover, the Stochastic has
Close 26010 50223 3794 also slipped below its average. Both these conditions would lead to
Prev. Close 26733 52044 3835 selling pressure. The ADX, +DI line are moving sideways but –DI
line remains placed above the 30 level, indicating sellers have an
% Change -2.70% -3.50% -1.07%
upper hand. MCX GOLD faces resistance at 27964, 28235, 28525,
Source – MCX 28744 levels, while the supports are placed at 25360, 24992 and
23176 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened higher at 52190. It moved
4/10/2011 3/10/2011 % Chg. higher to touch an intra-day high of 52750. However, it failed to
Gold (grms) 67,956.0 42,958.0 58.19% sustain higher due to sustained selling pressure and lack of follow up
buying support. It touched an intra-day low of 49809. It ended the
Silver (kgs) 2,433.6 2,002.6 21.52% day with large losses to close at 50223 level.
Crude (bbl) 26,066.5 26,884.6 -3.04%
The RSI is placed below its average. Further, the Stochastic is also
Source – MCX placed below its average. Both these conditions would lead to regular
bouts of selling pressure. The –DI line remains placed at 41.42
Turnover (In Lacs) indicating sellers have an upper hand. MCX Silver faces resistance
4/10/2011 3/10/2011 % Chg.
at 52365, 54377, 56981 and 61708 levels, while the supports are
placed at 49828, 45824 and 42708 levels.
Gold 1,805,569.1 1,144,876.2 57.71%
MCX CRUDE (OCT 11) - Crude opened lower at 3822 level. It
Silver 1,248,436.2 1,041,131.5 19.91%
moved lower to touch an intra-day low of 3723 on back of selling
Crude 987,712.2 1,037,907.1 -4.84% pressure. However, it managed a bounce back in the evening
Source – MCX session on back of short covering and selective buying support to
touch an intra-day high of 3860. It ended the day at 3794 to close
with moderate losses.
Global Market (Nymex - $)
5/10/2011 4/10/2011 % Chg. The RSI is placed below its average, which would lead to selling
support. The Stochastic too is placed below its average but in the
Gold (oz) 1,620.70 1,614.70 0.37%
oversold zone, which would lead to short covering and buying
Silver (oz) 30.05 29.79 0.87% support. The –DI line is moving higher and is placed above the 30
level indicating sellers have an upper hand. While the ADX and +DI
Crude (bbl) 77.63 75.67 2.59%
line are moving sideways. It faces resistance at 3800, 3938, 3985
Dollar Index 79.26 79.06 0.25% and 4129 levels, while the supports are placed at 3747, 3614 and
Source – www.cmegroup.com
3543 levels.
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 3794 3792 3862 3929 4066 3725 3655 3518
GOLD DEC 11 26010 26328 26726 27441 28554 25613 25215 24102
SILVER DEC 11 50223 50927 52046 53868 56809 49105 47986 45045
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Tuesday
Oct. 04 Oct. 05 Oct. 06 Oct. 07 Oct. 11
ADP Employment
Factory Orders Jobless Claims Employment Situation FOMC Minutes
Report
EIA Natural Gas NFIB Small Business
Motor Vehicle Sales ISM Non-Mfg Index Consumer Credit
Report Optimism Index
EIA Petroleum Status 4-Week Bill
Ben Bernanke Speaks Chain Store Sales Wholesale Trade
Report Announcement
Challenger Job-Cut Monster Employment
3-Yr Note Auction
Report Index
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