1. Daily Commodity Outlook
19th October 2011
MCX GOLD (DEC 11) - Gold opened lower at 26802. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
higher to touch intra-day high of 26833 but failed to sustain higher. It
moved lower to touch an intra-day low of 26273. It ended the day on
Open 26,802 52,778 4,269 with modest losses to close at 26593.
High 26,833 53,450 4,385
The RSI has slipped below its average. Further the Stochastic is
Low 26,273 51,375 4,236
placed below its average. Both these conditions would fuel selling
Close 26,593 53,157 4,363 pressure. The ADX, and +DI line are moving sideways but –DI line
Prev. Close 26,824 52,769 4,279
has again moved above the 30 level indicating sellers have an upper
hand. MCX GOLD faces resistance at 27964, 28235, 28525, 28744
% Change -0.86% 0.74% 1.96% levels, while the supports are placed at 25360, 24992 and 23176
Source – MCX levels.
Volume (In 000's) MCX SILVER (DEC 11) - Silver opened higher at 52778. It moved
lower to touch intra-day low of 51375. However, it managed to
18/10/2011 17/10/2011 % Chg. bounce back from the lows of the day to touch intra-day high of
Gold (grms) 62,344.0 40,701.0 53.18% 53450 during the late evening session. It ended the day with modest
gains to close at 53157.
Silver (kgs) 3,155.3 2,012.5 56.79%
Crude (bbl) 7,262.1 19,699.7 -63.14% The RSI is placed above its average, which would lead to regular
Source – MCX bouts of buying support. Moreso, the Stochastic has moved above its
average, which would lead to short covering and buying support. The
–DI line remains placed at 34.59 indicating sellers still have an upper
Turnover (In Lacs)
hand. MCX Silver faces resistance at 54377, 56981 and 61708
18/10/2011 17/10/2011 % Chg. levels, while the supports are placed at 52365, 49828, 45824 and
42708 levels.
Gold 1,654,597.5 1,092,758.9 51.41%
Silver 1,648,161.6 1,068,855.3 54.20% MCX CRUDE (NOV 11) - Crude opened lower at 4269 level. It
moved lower to touch 4236 but managed to bounce back. It moved
Crude 312,001.8 838,122.5 -62.77%
higher to touch an intra-day high of 4385. It ended the day at 4363 to
Source – MCX end the day with moderate gains.
Global Market (Nymex - $) The RSI is placed above its average, which would lead to buying
19/10/2011 18/10/2011 % Chg.
support. The Stochastic is also placed above its average but it is
placed in the over bought zone and would lead to profit taking and
Gold (oz) 1,652.80 1,651.70 0.07% selling pressure. The ADX, and –DI line are moving sideways, but
Silver (oz) 31.86 31.80 0.19% +DI line is placed above the 30 level indicating buyers have an upper
hand. It faces resistance at 4449, 4492 and 4548 levels, while the
Crude (bbl) 88.27 88.34 -0.08% supports are placed at 4301, 4182, 4129 and 4038 levels.
Dollar Index 76.93 77.15 -0.29%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4363 4328 4420 4477 4626 4271 4179 4030
GOLD DEC 11 26593 26566 26860 27126 27686 26300 26006 25446
SILVER DEC 11 53157 52661 53946 54736 56811 51871 50586 48511
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2. US Economic Calendar:
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Oct. 19 Oct. 20 Oct. 24 Oct. 25 Oct. 26
Chicago Fed National
Consumer Price Index Jobless Claims Consumer Confidence Durable Goods Orders
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4-Week Bill FHFA House Price
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EIA Petroleum Status Philadelphia Fed EIA Petroleum Status
6-Month Bill Auction S&P Case-Shiller HPI
Report Survey Report
EIA Natural Gas State Street Investor
Report Confidence Index
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