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Keynote commodity daily report 240712

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Keynote commodity daily report 240712

  1. 1. Daily Commodity Report 24th July 2012 MCX GOLD (4 AUGUST 12) - Gold opened higher at 29309 but Gold Silver Crude (4 Aug-12) (5 Sep-12) (20 Aug-12) later moved lower to touch an intra-day low of 29297. However, it managed to bounce back from lower levels to touch an intra-day Open 29,309 52,805 5,078 high of 29481. It ended the day with moderate gains to close the High 29,481 53,070 5,078 day at 29448. Low 29,297 52,502 4,957 The RSI and the Stochastic are placed above their respective Close 29,448 52,923 5,025 averages, which would result in buying support. The ADX line, +DI line and –DI line are moving sideways, indicating a range bound Prev. Close 29,277 52,842 5,093 trend. MCX GOLD faces resistance at 29668, 30179, 30340, 30428 % Change 0.58% 0.15% -1.34% and 31000, while the supports are placed at 28859, 28765 and 27962 levels. Source – MCX MCX SILVER (5 SEPT 12) - Silver opened lower at 52805 and Volume (In 000's) moved lower to touch an intra-day low of 52502. However, it 23/7/2012 21/7/2012 % Chg. managed to bounce back from lower levels to touch an intra-day high of 53070. It ended the day with marginal gains to close at Gold (gms) 40,149.0 1,225.0 3177.47% 52923. Silver (kgs) 1,375.4 31.5 4266.38% The RSI and the Stochastic are placed above their respective Crude (bbl) 34,095.0 505.7 6642.14% averages, which would result in buying support. However, the Source – MCX Stochastic has also moved in the over bought zone, which would lead to profit taking at higher levels. The ADX line, +DI line and –DI Turnover (In Lacs) line are moving sideways, indicating a range bound trend. MCX Silver faces resistance at 53675, 54570, 55551, 56157 and 57737 23/7/2012 21/7/2012 % Chg. while the supports are placed at 51559, 51029, and 50252 levels. Gold 1,179,454.9 35,867.2 3188.39% MCX CRUDE (20 August 12) - Crude opened lower at 5078 level. Silver 726,023.7 16,640.7 4262.93% Incidentally, this was the highest price recorded for the day. It Crude 1,706,243.1 25,728.2 6531.80% moved lower to touch an intra-day low of 4957. It ended the day with moderate losses to close at 5025. Source – MCX The RSI has slipped below its average. Moreover the Stochastic is Global Market (Nymex - $) already placed below its average and is also placed in the over 24/7/2012 23/7/2012 % Chg. bought zone. These conditions would lead to selling pressure and profit taking at regular intervals. The +DI line and ADX line are Gold (oz) 1,575.50 1,577.40 -0.12% moving lower and have come off their recent highs, indicating Silver (oz) 26.99 27.04 -0.21% buyers are booking profits at regular intervals. It faces resistance at 5184, 5217 and 5290 while the supports are placed at 4777, 4737 Crude (bbl) 88.16 88.14 0.02% and 4681. Dollar Index 83.69 83.71 -0.02% Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE AUG 12 5025 5020 5083 5141 5262 4962 4899 4778 GOLD AUG 12 29448 29409 29520 29593 29777 29336 29225 29041 SILVER SEP 12 52923 52832 53161 53400 53968 52593 52264 51696 Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028.. Tel: 3026 6000 www.keynotecapitals.com
  2. 2. US Economic Calendar: Tuesday Wednesday Thursday Friday Monday Jul 24 Jul 25 Jul 26 Jul 27 Jul 30 Richmond Fed New Home Sales Jobless Claims GDP Data Dallas Fed Mfg Survey Manufacturing Index PMI Manufacturing EIA Petroleum Status Durable Goods Orders Consumer Sentiment 4-Week Bill Index Flash Report Announcement ICSC-Goldman Store MBA Purchase Pending Home Sales 3-Month Bill Auction Sales Applications Index Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028.. Tel: 3026 6000 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. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028.. Tel: 3026 6000 www.keynotecapitals.com

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