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Keynote commodity daily report 210911

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Keynote commodity daily report 210911

  1. 1. Daily Commodity Outlook 21st September 2011 MCX GOLD (OCT 11) - Gold opened higher at 27725 on back of Gold Silver Crude (5 Oct-11) (5 Dec-11) (19 Oct-11) weak global economic cues. Buying support was witnessed as it moved above the 27777 and 27964 resistance levels. It closed above Open 27725 63479 4130 the 28000 level to end at 28039. High 28099 64720 4210 The RSI has moved above its average, which would result in regular Low 27580 63228 4130 bouts of buying support. The Stochastic remains placed above its Close 28039 64376 4170 average; which would also lead to buying support and short covering. Prev. Close 27665 63293 4125 The ADX, +DI line and –DI line are moving sideways indicating a range bound trend. MCX GOLD faces resistance at 28235, 28525, % Change 1.35% 1.71% 1.09% 28744 levels, while the supports are placed at 27964, 27777, 27184, Source – MCX 26853 and 26899 levels. MCX SILVER (DEC 11) - Silver also opened higher at 63479 buying Volume (In 000's) support was witnessed as Silver touched an intra-day high of 64720. 20/9/2011 19/9/2011 % Chg. It ended the day on a positive note to close at 64376. Gold (grms) 83,151.0 76,952.0 8.06% The RSI is placed below its average which would lead to selling Silver (kgs) 2,382.0 2,209.4 7.81% pressure at higher levels. The Stochastic is however, placed above its average, which would lead to buying support and short covering at Crude (bbl) 21,014.5 11,600.8 81.15% lower levels. The ADX, +DI line and –DI line are moving sideways Source – MCX indicating a range bound trend. MCX Silver faces resistance at 64925, 66051, 66625 and 66893 levels, while the supports are placed at 62763, 62129 and 60839 levels. Turnover (In Lacs) 20/9/2011 19/9/2011 % Chg. MCX CRUDE (OCT 11) - Crude snapped a six day losing streak. It opened higher at 4130 level, which also remained the day’s lowest Gold 2,315,907.0 2,152,230.3 7.60% point. Buying support was witnessed as it moved above the 4200 Silver 1,523,009.1 1,418,801.0 7.34% mark to touch 4210. However, profit taking and selling pressure at higher levels saw Crude pair its gains to close at 4170 level. Crude 876,175.5 480,702.9 82.27% Source – MCX The RSI and the Stochastic are placed below their respective averages, which is a negative sign and would lead to regular bouts of Global Market (Nymex - $) selling pressure. However, the Stochastic is placed in the over sold zone, which would lead to short covering and buying support. The 21/9/2011 20/9/2011 % Chg. ADX, +DI line and –DI line are moving sideways indicating a range bound trend. It faces resistance at 4174, 4207, 4449 and 4631 levels, Gold (oz) 1,810.00 1,806.60 0.19% while the supports are placed at 4007, 3955 and 3843 levels. Silver (oz) 39.91 40.08 -0.42% Crude (bbl) 86.83 86.92 -0.10% Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE OCT 11 4170 4170 4210 4250 4330 4130 4090 4010 GOLD OCT 11 28039 27906 28232 28425 28944 27713 27387 26868 SILVER DEC 11 64376 64108 64988 65600 67092 63496 62616 61124 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: Tuesday Wednesday Thursday Monday Tuesday Sept. 20 Sept. 21 Sept. 22 Sept. 26 Sept. 27 FOMC Meeting Bank Reserve Weekly Bill Chicago Fed National ICSC-Goldman Store Begins Settlement Settlement Activity Index Sales ICSC-Goldman Store MBA Purchase Consumer Jobless Claims New Home Sales Sales Applications Confidence FHFA House Price Housing Starts Existing Home Sales 3-Month Bill Auction 2-Year Note Auction Index EIA Petroleum Status EIA Natural Gas 4-Week Bill Auction 6-Month Bill Auction S&P Case-Shiller HPI Report Report FOMC Meeting 52-Week Bill Auction Fed Balance Sheet Announcement 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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