1. Daily Commodity Report
21st May 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 28951.
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) Incidentally, this was also the lowest price for the day. It moved
higher to touch an intra-day high of 28999. It ended the day with
Open 28,951 54,410 5,033 marginal gains to close at 28973.
High 28,999 54,618 5,033
The RSI and the Stochastic are placed above their respective
Low 28,951 54,348 4,986 averages. These conditions would lead to buying support at regular
Close 28,973 54,576 5,005
intervals. However, the Stochastic has moved in the over bought
zone and would lead to profit taking at higher levels. The ADX line,
Prev. Close 28,907 54,468 5,038 the –DI line and the +DI line are moving sideways, indicating a
% Change 0.23% 0.20% -0.66% range bound trend. MCX GOLD faces resistance at 29212, 29433
and 30000 while the supports are placed at 28960, 28084, 27855,
Source – MCX 27557 and 26517 levels.
Volume (In 000's) MCX SILVER (5 JULY 12) - Silver opened lower at 54410. It
moved lower to touch an intra-day low of 54348. However, it
19/5/2012 18/5/2012 % Chg.
managed a bounce back from lower levels to touch an intra-day
Gold (gms) 2,422.0 47,363.0 -94.89% high of 54618. It ended the day with marginal gains to close at
54576.
Silver (kgs) 61.8 2,713.6 -97.72%
Crude (bbl) 764.1 17,453.9 -95.62% The RSI and the Stochastic are placed above their respective
averages. These conditions would lead to buying support at regular
Source – MCX intervals. However, the Stochastic has moved in the over bought
zone and would lead to profit taking at higher levels. The ADX line
Turnover (In Lacs) and the +DI line are moving sideways but the -DI line has come off
its recent highs indicating sellers are covering their shorts. MCX
19/5/2012 18/5/2012 % Chg.
Silver faces resistance at 55551, 56157, 57737, 61708 and 65159
Gold 70,184.0 1,365,031.5 -94.86% while the supports are placed at 51029, 50252 and 48562 levels.
Silver 33,731.0 1,466,322.3 -97.70% MCX CRUDE (21 May 12) - Crude opened lower at 5033 level.
Crude 38,257.4 879,243.2 -95.65%
Incidentally, this was also the highest price for the day. However, it
failed to sustain higher and moved lower. It touched an intra-day
Source – MCX low of 4986. It ended the day with moderate losses to close at
5005.
Global Market (Nymex - $)
The RSI and the Stochastic are placed below their respective
21/5/2012 19/5/2012 % Chg.
averages, which would lead to selling pressure. But both are also
Gold (oz) 1,591.90 1,591.60 0.02% placed in the over sold zone, which would lead to regular bouts of
short covering. The +DI line is moving sideways, while the ADX line
Silver (oz) 28.61 28.70 -0.32%
and the –DI line are trending and are placed above the 30 level,
Crude (bbl) 91.87 91.48 0.43% however, the –DI line has come off its recent highs and is currently
Dollar Index 81.04 81.29 -0.31% placed at 34.74 indicating sellers are covering shorts at regular
intervals. It faces resistance at 5057, 5160, 5264 and 5392, while
Source – www.cmegroup.com
the supports are placed at 5000, 4905 and 4722 levels.
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point
R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5032 5050 5088 5144 5238 4994 4956 4862
GOLD JUN 12 28527 28372 28753 28980 29588 28145 27764 27156
SILVER JUL 12 53134 52878 53864 54593 56308 52149 51163 49448
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
May 21 May 22 May 23 May 24 May 25
Chicago Fed National Existing Home Sales New Home Sales Jobless Claims Consumer Sentiment
Activity Index
4-Week Bill ICSC-Goldman Store EIA Petroleum Status Durable Goods
Announcement Sales Report Orders
3-Month Bill Auction Richmond Fed MBA Purchase Bloomberg Consumer
Manufacturing Index Applications Comfort Index
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