1. Daily Commodity Outlook
20th October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26650. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
higher to touch intra-day high of 26690 but failed to sustain higher. It
moved lower to touch an intra-day low of 26415. It ended the day on
Open 26,650 53,075 4,361 with modest losses to close at 26458.
High 26,690 53,370 4,415
The RSI is placed below its average. Further the Stochastic is also
Low 26,415 52,111 4,341
placed below its average. Both these conditions would fuel selling
Close 26,458 52,228 4,357 pressure. The ADX, and +DI line are moving sideways but –DI line
Prev. Close 26,593 53,157 4,363
is placed at the 30.19 level indicating sellers have an upper hand.
MCX GOLD faces resistance at 27964, 28235, 28525, 28744 levels,
% Change -0.51% -1.75% -0.14% while the supports are placed at 25360, 24992 and 23176 levels.
Source – MCX
MCX SILVER (DEC 11) - Silver opened lower at 53075. It moved
Volume (In 000's) higher to touch intra-day high of 53370 in the evening session.
However, it failed to sustain on back of selling pressure and touched
19/10/2011 18/10/2011 % Chg. the intra-day low of 52111 in late evening session. It ended the day
Gold (grms) 44,422.0 62,344.0 -28.75% with moderate losses to close at 52228.
Silver (kgs) 2,602.3 3,155.3 -17.53%
The RSI has slipped below its average, which would lead to regular
Crude (bbl) 14,035.0 7,262.1 93.26% bouts of selling pressure. However, the Stochastic is placed above
Source – MCX its average, which would lead to short covering and buying support
at lower levels. The –DI line remains placed at 32.99 indicating
sellers still have an upper hand. MCX Silver faces resistance at
Turnover (In Lacs)
52365, 54377, 56981 and 61708 levels, while the supports are
19/10/2011 18/10/2011 % Chg. placed at 50223, 49828, 45824 and 42708 levels.
Gold 1,178,685.4 1,654,597.5 -28.76%
MCX CRUDE (NOV 11) - Crude opened flat at 4345 level. It moved
Silver 1,373,995.9 1,648,161.6 -16.63% higher to touch intra-day high of 4404 but failed to sustain higher on
back of profit taking and selling pressure. It moved lower to touch an
Crude 613,246.0 312,001.8 96.55%
intra-day low of 4315. It ended the day at 4339 to end the day with
Source – MCX marginal losses.
Global Market (Nymex - $) The RSI is placed above its average, which would lead to buying
20/10/2011 19/10/2011 % Chg.
support. The Stochastic has slipped below its average and is placed
in the over bought zone, which and would lead to profit taking and
Gold (oz) 1,629.40 1,646.00 -1.01% selling pressure. The ADX, and –DI line are moving sideways, but
Silver (oz) 30.83 31.28 -1.43% +DI line is placed at 31.10 level indicating buyers have an upper
hand. It faces resistance at 4449, 4492 and 4548 levels, while the
Crude (bbl) 85.80 86.11 -0.36% supports are placed at 4301, 4182, 4129 and 4038 levels
Dollar Index 77.30 77.07 0.30%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4357 4371 4401 4445 4519 4327 4297 4223
GOLD DEC 11 26458 26521 26627 26796 27071 26352 26246 25971
SILVER DEC 11 52228 52570 53028 53829 55088 51769 51311 50052
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2. US Economic Calendar:
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Oct. 20 Oct. 24 Oct. 25 Oct. 26 Oct. 27
Chicago Fed National
Jobless Claims Consumer Confidence Durable Goods Orders US GDP Data
Activity Index
4-Week Bill FHFA House Price
Existing Home Sales New Home Sales Jobless Claims
Announcement Index
Philadelphia Fed EIA Petroleum Status Pending Home Sales
6-Month Bill Auction S&P Case-Shiller HPI
Survey Report Index
EIA Natural Gas State Street Investor EIA Natural Gas
Report Confidence Index Report
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