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Keynote commodity daily report 241011

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Keynote commodity daily report 241011

  1. 1. Daily Commodity Outlook 24th October 2011 MCX GOLD (DEC 11) - Gold opened higher at 26720. It moved Gold Silver Crude (5 Dec-11) (5 Dec-11) (17 Nov-11) lower to touch intra-day low of 26702. However, it managed to bounce back from the lows to touch an intra-day high of 267788. It Open 26,720 53,000 4,379 ended the day on with marginal gains to close at 26768 High 26,778 53,090 4,387 The RSI is placed above its average. Further the Stochastic is also Low 26,702 52,902 4,373 placed above its average. Both these conditions would fuel buying Close 26,768 53,034 4,381 support The ADX, and +DI line are moving sideways but –DI line is Prev. Close 26,665 52,784 4,371 placed at the 30.56 level indicating sellers still have an upper hand. MCX GOLD faces resistance at 27964, 28235, 28525, 28744 levels, % Change 0.39% 0.47% 0.23% while the supports are placed at 25360, 24992 and 23176 levels. Source – MCX MCX SILVER (DEC 11) - Silver opened higher at 53000. It moved Volume (In 000's) lower to touch intra-day low of 52902. However, it managed to bounce back from the lows to touch an intra-day high of 53090. It 22/10/2011 21/10/2011 % Chg. ended the day with modest gains to close at 53034. Gold (grms) 2,554.0 43,621.0 -94.15% The RSI has moved above its average, which would lead to regular Silver (kgs) 83.1 2,018.9 -95.88% bouts of buying support. Moreover, the Stochastic is placed above Crude (bbl) 668.5 20,555.8 -96.75% its average, which would also lead to buying support. The –DI line Source – MCX remains placed at 32.24 indicating sellers still have an upper hand. MCX Silver faces resistance at 54377, 56981 and 61708 levels, while the supports are placed at 52365, 50223, 49828, 45824 and Turnover (In Lacs) 42708 levels. 22/10/2011 21/10/2011 % Chg. MCX CRUDE (NOV 11) - Crude opened higher at 4379 level. It Gold 68,307.4 1,160,561.5 -94.11% moved lower to touch intra-day low of 4373. However, it managed to Silver 44,037.7 1,059,689.1 -95.84% bounce back from the lows to touch an intra-day high of 4387. but it failed to sustain higher and ended the day with modest gains to Crude 29,284.1 898,377.2 -96.74% close at 4381. Source – MCX . The RSI is placed above its average, which would lead to buying Global Market (Nymex - $) support. The Stochastic is placed below its average but is still placed near the over bought zone, which and would lead to profit 24/10/2011 22/10/2011 % Chg. taking and selling pressure. The ADX and –DI line are moving Gold (oz) 1,636.80 1,635.10 0.10% sideways, but +DI line is place at 31.20 indicating buyers have an upper hand. It faces resistance at 4449, 4492 and 4548 levels, Silver (oz) 31.36 31.17 0.58% while the supports are placed at 4301, 4182, 4129 and 4038 levels. Crude (bbl) 87.82 87.40 0.48% Dollar Index 76.34 76.40 -0.08% Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE OCT 11 4381 4380 4388 4394 4408 4374 4366 4352 GOLD DEC 11 26768 26749 26797 26825 26901 26721 26673 26597 SILVER DEC 11 53034 53009 53115 53197 53385 52927 52821 52633 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 Friday Monday Oct. 25 Oct. 26 Oct. 27 Oct. 28 Oct. 31 Personal Income and Consumer Confidence Durable Goods Orders US GDP Data Chicago PMI Outlays FHFA House Price Employment Cost New Home Sales Jobless Claims Farm Prices Index Index EIA Petroleum Status Pending Home Sales S&P Case-Shiller HPI Consumer Sentiment 6-Month Bill Auction Report Index State Street Investor EIA Natural Gas 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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