Daily Commodity Report
11th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 28640. It moved
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) lower to touch an intra-day low of 28300. However, it managed to
bounce back and move higher. It touched an intra-day high of
Open 28,640 55,000 5,206 28640. It ended the day with moderate losses to close at 28446.
High 28,640 55,000 5,209
The RSI and the Stochastic are placed below their respective
Low 28,300 54,370 5,135
averages, which would lead to selling pressure. However, the
Close 28,446 54,568 5,182 Stochastic is placed in the over sold zone, which would lead to
short covering at regular intervals. The ADX line and the +DI line
Prev. Close 28,678 55,159 5,213
are moving sideways but the -DI line is currently placed at 34.88
% Change -0.81% -1.07% -0.59% indicating sellers are gaining strength. MCX GOLD faces
Source – MCX resistance at 28960, 29212 and 29433, while the supports are
placed at 28084, 27557 and 26517 levels.
Volume (In 000's)
MCX SILVER (5 JULY 12) - Silver opened lower at 55000.
10/5/2012 9/5/2012 % Chg. Incidentally, this was the highest price for the day. It moved lower
to touch an intra-day low of 54370. It ended the day with moderate
Gold (gms) 33,980.0 45,200.0 -24.82%
losses to close at 54568.
Silver (kgs) 1,379.7 2,231.4 -38.17%
The RSI and the Stochastic are placed below their respective
Crude (bbl) 15,101.1 22,943.6 -34.18%
averages. These conditions would lead to selling pressure. The
Source – MCX ADX line, –DI and +DI line are moving sideways, indicating a range
bound trend. MCX Silver faces resistance at 55551, 56157, 57737,
Turnover (In Lacs) 61708 and 65159 while the supports are placed at 51029, 50252
and 48562 levels.
10/5/2012 9/5/2012 % Chg.
Gold 966,425.6 1,290,836.3 -25.13% MCX CRUDE (21 May 12) - Crude opened lower at 5206 level. It
moved lower to touch an intra-day low of 5135. However, it
Silver 753,904.4 1,220,099.9 -38.21% managed to bounce back and moved higher. It touched an intra-
Crude 781,508.6 1,190,893.2 -34.38% day high of 5209. It ended the day with moderate losses to close at
5182.
Source – MCX
The RSI is placed below its average, which would lead to selling
Global Market (Nymex - $) pressure. However, the Stochastic is placed above its average but
11/5/2012 10/5/2012 % Chg. is still placed in the over sold zone, while the RSI is on verge of
moving in the over sold territory. These conditions would lead to
Gold (oz) 1,587.00 1,595.10 -0.51% short covering and buying at lower levels. The ADX line and +DI
Silver (oz) 28.87 29.15 -0.98% line are moving sideways. The -DI line is placed at 37.96 level and
has come off the highs indicating sellers have started covering their
Crude (bbl) 96.00 97.08 -1.11%
shorts at regular intervals. It faces resistance at 5264, 5392 and
Dollar Index 80.25 80.11 0.17% 5600, while the supports are placed at 5160, 5057 and 4905 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5182 5175 5216 5249 5323 5142 5101 5027
GOLD JUN 12 28446 28462 28624 28802 29142 28284 28122 27782
SILVER JUL 12 54568 54646 54922 55276 55906 54292 54016 53386
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