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Keynote commodity daily report 241111

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Keynote commodity daily report 241111

  1. 1. Daily Commodity Outlook 24th November 2011 MCX GOLD (DEC 11) - Gold opened lower at 28720. It moved Gold Silver Crude (5 Dec-11) (5 Dec-11) (19 Dec-11) lower to touch an intra-day low of 28490. However, it managed to bounce back from the lows of the day to touch an intra-day high of Open 28,720 56,840 5,142 28823 but failed to sustain higher. It ended the day flat with High 28,823 56,840 5,142 marginal losses to close at 28780. Low 28,490 54,703 5,012 The RSI remains placed below its average, which would lead to Close 28,780 55,846 5,074 selling pressure. However, the Stochastic is placed above its average, which would lead to intermediate bouts of short covering Prev. Close 28,799 57,052 5,142 and selective buying support. The ADX, +DI and -DI line are moving % Change -0.07% -2.11% -1.32% sideways, indicating a range bound trend. MCX GOLD faces resistance at 28960, 29212, 29500 and 30000, while the supports Source – MCX are placed at 28152, 27954, 26768 and 26000 levels. Volume (In 000's) MCX SILVER (DEC 11) - Silver opened lower at 56840. 23/11/2011 22/11/2011 % Chg. Incidentally, this was also the highest traded price for the day. It moved lower to touch an intra-day low of 54703 on back of Gold (grms) 51,423.0 44,011.0 16.84% sustained selling pressure. However, it managed to bounce back Silver (kgs) 2,565.6 2,360.1 8.71% from the lows of day to end the day with moderate losses to close at 55846. Crude (bbl) 23,322.5 24,615.2 -5.25% Source – MCX The RSI has once again slipped below its average, which would lead to further selling pressure. However, the Stochastic is already Turnover (In Lacs) placed above its average, which would lead to buying support at lower levels. The ADX, -DI and +DI line are moving sideways, 23/11/2011 22/11/2011 % Chg. indicating a range bound trend. MCX Silver faces resistance at 61708, 61884 and 64605 levels, while the supports are placed at Gold 1,472,961.8 1,261,663.6 16.75% 54754, 52725, 52365 and 51226 levels. Silver 1,422,851.6 1,315,866.9 8.13% MCX CRUDE (DEC 11) - Crude opened unchanged at 5142 level. Crude 1,177,741.4 1,258,714.2 -6.43% Incidentally, this was also the highest traded price for the day. It Source – MCX moved lower to touch an intra-day low of 5012 on back of sustained selling pressure. However, it managed to bounce back from the Global Market (Nymex - $) lows of day to end the day with moderate losses to close at 5074. 24/11/2011 23/11/2011 % Chg. The RSI has once again slipped below its average, which would lead to further selling pressure. However, the Stochastic is already Gold (oz) 1,690.10 1,695.70 -0.33% placed above its average, which would lead to buying support at Silver (oz) 31.72 31.88 -0.51% lower levels. The ADX and –DI line are moving sideways, but +DI Crude (bbl) 95.94 96.17 -0.24% line is still placed at 36.13 indicating buyers have an upper hand. It faces resistance at 5174, 5200 and 5250 levels, while the supports Dollar Index 78.86 79.03 -0.22% are placed at 4889, 4618, 4493 and 4291 levels. Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE DEC 11 5074 5076 5140 5206 5336 5010 4946 4816 GOLD DEC 11 28780 28698 28905 29031 29364 28572 28365 28032 SILVER DEC 11 55846 55796 56890 57933 60070 54753 53659 51522 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: Friday Monday Tuesday Wednesday Thursday Nov. 25 Nov. 28 Nov. 29 Nov. 30 Dec. 01 Pending Home Sales Weekly Bill Settlement New Home Sales Consumer Confidence New Home Sales Index ICSC-Goldman Store EIA Petroleum Status 4-Week Bill Money Supply Data 6-Month Bill Auction Sales Report Announcement 4-Week Bill FHFA House Price ADP Employment Fed Balance Sheet 6-Month Bill Auction Announcement 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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