1. Daily Commodity Report
3rd May 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 29168. It
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) moved higher to touch an intra-day high of 29267 level. However,
it failed to sustain higher. It moved lower to touch an intra-day low
Open 29,168 56,951 5,598 of 29100. It ended the day with modest gains to close at 29193.
High 29,267 57,194 5,623
The RSI remain placed above its averages, which would lead to
Low 29,100 56,451 5,575 buying support. However, the Stochastic is placed below its
Close 29,193 56,746 5,596 average and remains placed in the over bought zone. More so the
RSI is also placed in the over bought zone. These conditions
Prev. Close 29,129 57,011 5,600 would lead to regular bouts of profit taking and selling pressure
% Change 0.22% -0.46% -0.07% especially at higher levels. The ADX line and the -DI line are
moving sideways, but the +DI line is placed at 31.04 level but has
Source – MCX
been falling from recent highs indicating buyers are booking
profits regularly. MCX GOLD faces resistance at 29212 and
Volume (In 000's) 29433, while the supports are placed at 28960, 28084, 27557,
2/5/2012 1/5/2012 % Chg. 26517 and 26347 levels.
Gold (gms) 29,496.0 18,031.0 63.58% MCX SILVER (5 JULY 12) - Silver opened lower at 56951. It
moved higher to touch an intra-day high of 57194 level. However,
Silver (kgs) 1,404.2 180.1 679.82%
it failed to sustain higher. It moved lower to touch an intra-day low
Crude (bbl) 11,185.5 8,054.8 38.87% of 56451. It ended the day with modest losses to close at 56746.
Source – MCX
The RSI and the Stochastic are placed below their respective
averages. These conditions would lead to selling pressure. The
Turnover (In Lacs) ADX line and +DI line are moving sideways, but –DI line is placed
2/5/2012 1/5/2012 % Chg. above the 30 level indicating sellers are gaining strength. MCX
Silver faces resistance at 56157, 57737, 61708 and 65159 while
Gold 860,649.4 526,349.2 63.51% the supports are placed at 55551, 51029, 50252 and 48562
Silver 797,226.5 99,938.8 697.71%
levels.
Crude 626,688.9 448,382.6 39.77% MCX CRUDE (19 May 12) - Crude opened lower at 5598 level. It
moved higher to touch an intra-day high of 5623 level. However, it
Source – MCX
failed to sustain higher and moved lower to touch an intra-day low
of 5575. It ended the day flat to close at 5596.
Global Market (Nymex - $)
3/5/2012 2/5/2012 % Chg.
The RSI is placed above its average, which would lead to buying
support. However, the Stochastic has slipped below its average.
Gold (oz) 1,650.90 1,653.40 -0.15% Moreover, both are also placed in the over bought zone, which
Silver (oz) 30.48 30.59 -0.37% would lead to profit taking and selling pressure at higher levels.
The ADX line and –DI line are moving sideways but +DI line is
Crude (bbl) 105.07 105.22 -0.14% placed above the 30 level indicating buyers are gaining strength. It
Dollar Index 79.20 79.13 0.09% faces resistance at 5608, 5635 and 5650 while the supports are
placed at 5550, 5512, 5498 and 5403 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5596 5598 5621 5646 5694 5573 5550 5502
GOLD JUN 12 29193 29187 29273 29354 29521 29106 29020 28853
SILVER JUL 12 56746 56797 57143 57540 58283 56400 56054 55311
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2. US Economic Calendar:
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May 03 May 04 May 7 May 08 May 09
Jobless Claims Employment Situation Consumer Credit NFIB Small Business EIA Petroleum Status
Optimism Index Report
Productivity and Monster Employment 3-Month Bill Auction ICSC-Goldman Store Wholesale Trade Data
Costs Index Sales
ISM Non-Mfg Index 6-Month Bill Auction 3-Yr Note Auction EIA Petroleum Status
Report
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