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Keynote commodity daily report 201011

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Keynote commodity daily report 201011

  1. 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 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 Thursday 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 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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