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
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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
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