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Keynote commodity daily report 181111

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Keynote commodity daily report 181111

  1. 1. Daily Commodity Outlook 18th November 2011 MCX GOLD (DEC 11) - Gold opened lower at 28950. It moved Gold Silver Crude (5 Dec-11) (5 Dec-11) (17 Nov-11) higher to touch 28960. However, it failed to sustain on back of profit taking and selling pressure. It touched an intra-day low of Open 28,950 57,100 5,147 28272. It ended the day with moderate losses to close at 28449. High 28,960 57,265 5,244 The RSI and Stochastic are placed below their respective Low 28,272 53,728 5,032 averages. Both these conditions would lead to further selling pressure. Both have come off from the over sold zone due to Close 28,449 54,057 5,051 yesterday’s fall. The ADX, +DI and -DI line are moving sideways. Prev. Close 28,996 57,157 5,141 Moreover, +DI line has come below the 30 level, indicating buyers % Change -1.89% -5.42% -1.75% have lost the upper hand. MCX GOLD faces resistance at 28960, 29212, 29500 and 30000, while the supports are placed at 28152, Source – MCX 27954, 26768 and 26000 levels. Volume (In 000's) MCX SILVER (DEC 11) - Silver opened lower at 57100. It moved higher to touch an intra-day high of 57265. However, it failed to 17/11/2011 16/11/2011 % Chg. sustain on back of profit taking and selling pressure. It touched an Gold (grms) 62,057.0 48,354.0 28.34% intra-day low of 53728. It ended the day with heavy losses to close at 54057 Silver (kgs) 2,850.1 2,113.1 34.87% The RSI and Stochastic are placed below their respective Crude (bbl) 21,689.7 8,736.7 148.26% averages. Both these conditions would lead to further selling Source – MCX pressure. Both have come off from the over sold zone due to yesterday’s fall. The ADX and +DI line are moving sideways but – Turnover (In Lacs) DI line has moved above the 30 level and indicated buyers have an upper hand. MCX Silver faces resistance at 54754, 61708, 61884 17/11/2011 16/11/2011 % Chg. and 64605 levels, while the supports are placed at 52725, 52365 Gold 1,782,466.8 1,403,253.1 27.02% and 51226 levels. Silver 1,593,202.7 1,215,781.0 31.04% MCX CRUDE (DEC 11) - Crude opened higher at 5151 level. It moved higher to touch an intra-day high of 5244. However, it failed Crude 1,116,345.0 444,565.3 151.11% to sustain on back of profit taking and selling pressure. It touched Source – MCX an intra-day low of 5007. It ended the day with heavy losses to close at 5031 Global Market (Nymex - $) The RSI has breached its average, which is a negative sign. 18/11/2011 17/11/2011 % Chg. Moreover, the Stochastic is placed below its average. Both these conditions would lead to further selling pressure. Moreso, both are Gold (oz) 1,723.10 1,719.80 0.19% placed in the over bought zone which would further lead to Silver (oz) 31.52 31.50 0.07% intermediate bouts of profit taking and selling pressure. The ADX Crude (bbl) 98.74 98.82 -0.08% and –DI line are moving sideways, but +DI line is still placed at 42.24 indicating buyers have an upper hand. It faces resistance at Dollar Index 78.14 78.29 -0.19% 5174 5200 and 5250 levels, while the supports are placed at 4889, Source – www.cmegroup.com 4618, 4493 and 4291 levels. Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE NOV 11 5051 5109 5186 5321 5533 4974 4897 4685 GOLD DEC 11 28449 28560 28849 29248 29936 28161 27872 27184 SILVER DEC 11 54057 55017 56305 58554 62091 52768 51480 47943 Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  2. 2. US Economic Calendar: Thursday Monday Tuesday Wednesday Friday Nov. 17 Nov. 21 Nov. 22 Nov. 23 Nov. 25 Housing Statistic Existing Home Sales GDP Data Jobless Claims Data Weekly Bill Settlement Chicago Fed National Jobless Claims Corporate Profits Durable Goods Orders Money Supply Data Activity Index Philadelphia Fed Personal Income and 2-Yr Note Auction 5-Yr Note Auction Fed Balance Sheet Survey Outlays EIA Natural Gas Consumer Sentiment Report Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  3. 3. Disclaimer This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals. Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation and related information and opinions. The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report. No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com

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