1. Daily Commodity Outlook
2nd December 2011
MCX GOLD (DEC 11) - Gold opened lower at 29035. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Dec-11)
higher to touch an intra-day high of 29140. However, profit taking
and selling pressure saw it move lower to touch an intra-day low of
Open 29,035 55,900 5,220 28850. It ended the day with modest losses to close at 28888.
High 29,140 55,950 5,222
The RSI and the Stochastic both remain placed above their
Low 28,850 54,806 5,103 respective averages, which would lead to buying support. However,
Close 28,888 54,953 5,115 Stochastic is placed in the over bought zone and regular bouts of
profit taking will be witnessed. The ADX, +DI and -DI line are
Prev. Close 29,061 55,520 5,219
moving sideways, indicating a range bound trend. MCX GOLD
% Change -0.60% -1.02% -1.99% faces resistance at 28960, 29212, 29500 and 30000, while the
supports are placed at 28152, 27954, 26768 and 26000 levels.
Source – MCX
MCX SILVER (DEC 11) - Silver opened higher at 55900. It moved
Volume (In 000's)
higher to touch an intra-day high of 55950. However, profit taking
1/12/2011 30/11/2011 % Chg. and selling pressure saw it move lower to touch an intra-day low of
54806. It ended the day with modest losses to close at 54953
Gold (gms) 3,329.0 31,628.0 -89.47%
Silver (kgs) 143.5 1,596.8 -91.01% The RSI has once again failed to sustain above its average, which
would lead to selling pressure. However, the Stochastic remains
Crude (bbl) 22,902.4 24,547.0 -6.70%
placed above its average, which would lead to buying support at
Source – MCX lower levels. The ADX, -DI and +DI line are moving sideways,
indicating a range bound trend. MCX Silver faces resistance at
Turnover (In Lacs) 61708, 61884 and 64605 levels, while the supports are placed at
54754, 52725, 52365 and 51226 levels.
1/12/2011 30/11/2011 % Chg.
Gold 96,542.4 914,622.7 -89.44%
MCX CRUDE (DEC 11) - Crude opened higher at 5220 level. It
moved higher to touch an intra-day high of 5222. However, profit
Silver 79,612.8 879,917.4 -90.95% taking and selling pressure saw it move lower to touch an intra-day
Crude 1,182,485.3 1,281,232.7 -7.71%
low of 5103. It ended the day with moderate losses to close at 5115.
Source – MCX The RSI has once again failed to sustain above its average, which
would lead to selling pressure. However, the Stochastic remains
Global Market (Nymex - $) placed above its average, which would lead to buying support at
2/12/2011 1/12/2011 % Chg.
lower levels. However, the Stochastic is still placed in the over
bought zone, which would result in profit taking and selling pressure
Gold (oz) 1,740 1,735 0.29% at higher levels. The ADX and -DI line are moving higher, but +DI
Silver (oz) 32.82 32.695 0.38% line has started moving lower and is still placed at 34.27, indicating
buyers have started unwinding their long positions. It faces
Crude (bbl) 100.15 100.2 -0.05% resistance at 5223, 5250 and 5300 levels, while the supports are
Dollar Index 78.35 78.30 0.06% placed at 5200, 5174, 4889, and 4618 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE DEC 11 5115 5147 5190 5266 5385 5071 5028 4909
GOLD DEC 11 28888 28959 29069 29249 29539 28779 28669 28379
SILVER DEC 11 54953 55236 55667 56380 57524 54523 54092 52948
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2. US Economic Calendar:
Friday Monday Tuesday Wednesday Thursday
Dec. 02 Dec. 05 Dec. 06 Dec. 07 Dec. 08
ICSC-Goldman Store EIA Petroleum Status
Employment Situation Factory Orders Jobless Claims
Sales Report
Monster Employment MBA Purchase
ISM Non-Mfg Index 4-Week Bill Auction Wholesale Trade
Index Applications
6-Month Bill Auction Treasury STRIPS Consumer Credit Money Supply Data
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