1.
Daily Commodity Report
6th June 2012
MCX GOLD (4 AUGUST 12) - Gold opened higher at 29757. It
Gold Silver Crude
(4 Aug-12) (5 Jul-12) (19 Jun-12)
moved lower to touch an intra-day low of 29742. However, it
managed t o bounce back from lower levels to move higher and
Open 29,956 53,953 4,667 touch an intra-day high of 30150. It ended the day with moderate
High 30,119 54,500 4,727 gains to close at 30011.
Low 29,953 53,905 4,660 The RSI is placed above its average, which would lead to buying
support. However, the Stochastic has slipped below its average and
Close 30,011 54,442 4,688
is also placed in the over bought zone along with the RSI. These
Prev. Close 29,918 53,839 4,661 conditions would lead to profit taking and selling pressure. The ADX
line and +DI line are moving higher, while the –DI line is moving
% Change 0.31% 1.12% 0.58%
lower. The +DI line is placed above the 30 level indicating buyers
Source – MCX are gaining strength a. MCX GOLD faces resistance at 29929,
30000 and 30156 while the supports are placed at 29871, 29433,
Volume (In 000's) 29212, 28960, 28084, 27855, 27557 and 26517 levels.
05/06/2012 04/06/2012 % Chg. MCX SILVER (5 JULY 12) - Silver opened higher at 53953. It
moved lower to touch an intra-day low of 53905. However, it
Gold (gms) 30,316.0 34,335.0 -11.71%
managed t o bounce back from lower levels to move higher and
Silver (kgs) 1,394.4 1,809.8 -22.95% touch an intra-day high of 54500. It ended the day with moderate
Crude (bbl) 19,174.1 26,184.3 -26.77% gains to close at 54442.
Source – MCX The RSI has moved above its average. Moreover, the Stochastic is
already placed above its average, which would lead to buying
Turnover (In Lacs) support at regular levels. However, the Stochastic is also placed in
the over bought zone, which would lead to profit taking at regular
05/06/2012 04/06/2012 % Chg. intervals. The ADX line and the –DI line are moving lower but are
still placed above the 30 level, indicating sellers are covering shorts.
Gold 910,632.2 1,029,565.2 -11.55%
MCX Silver faces resistance at 55551, 56157, 57737, 61708 and
Silver 756,895.6 979,613.2 -22.74% 65159 while the supports are placed at 51029, 50252 and 48562
levels.
Crude 900,223.3 1,202,609.2 -25.14%
Source – MCX MCX CRUDE (19 June 12) - Crude opened higher at 4667 level. It
moved lower to touch an intra-day low of 4660. However, it
Global Market (Nymex - $)
managed to bounce back from lower levels to move higher and
touch an intra-day high of 4727. It ended the day with moderate
06/06/2012 05/06/2012 % Chg. gains to close at 4688.
Gold (oz) 1,625.00 1,615.20 0.61% The RSI is placed in the over sold zone but is still placed below its
Silver (oz) 28.78 28.41 1.30% average. Moreover, the Stochastic is also placed in the over sold
zone but has moved above its average. These conditions would
Crude (bbl) 84.81 84.29 0.62%
lead to short covering and buying support. The ADX line and –DI
Dollar Index 82.54 82.83 -0.35% line are trending and are placed above the 37 level indicating sellers
Source – www.cmegroup.com have an upper hand. It faces resistance at 4710, 4855, 4905 and
5000 while the supports are placed at 4421, 4259 and 3723.
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point
R1 R2 R3 S1 S2 S3
CRUDE JUN 12 4688 4692 4723 4759 4826 4656 4625 4558
GOLD AUG 12 30011 30028 30102 30194 30360 29936 29862 29696
SILVER JUL 12 54442 54282 54660 54877 55472 54065 53687 53092
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2.
US Economic Calendar:
Wednesday Thursday Friday Monday Tuesday
Jun 06 Jun 07 Jun 08 Jun 11 Jun 12
Productivity and Jobless Claims International Trade 4-Week Bill Import and Export
Costs Data Announcement Prices
EIA Petroleum Status EIA Natural Gas Wholesale Trade 3-Month Bill Auction Treasury Budget
Report Report
MBA Purchase Bloomberg Consumer 6-Month Bill Auction ICSC-Goldman Store
Applications Comfort Index Sales
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3.
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