1. Daily Commodity Outlook
4th October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26399. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Oct-11) higher to touch 26824 during intra-day. It managed to sustain at
higher levels. It ended the day with handsome gains to close at
Open 26399 51500 3920 26733 level.
High 26824 52800 3938
Low 26373 51276 3805 The RSI has moved above its average. Moreover, the Stochastic is
placed above its average. Both these conditions would lead to
Close 26733 52044 3835 regular bouts of buying support. The ADX, +DI line are moving
Prev. Close 26313 51181 3933 sideways but –DI line remains placed above the 30 level, indicating
sellers have an upper hand. MCX GOLD faces resistance at 27964,
% Change 1.60% 1.69% -2.49%
28235, 28525, 28744 levels, while the supports are placed at 25360,
Source – MCX 24992 and 23176 levels.
Volume (In 000's) MCX SILVER (DEC 11) - Silver opened higher at 51500. It moved
3/10/2011 1/10/2011 % Chg. higher to touch an intra-day high of 52800. However, It ended the
day with handsome gains to close at 52044 level.
Gold (grms) 42,958.0 1,858.0 2212.06%
Silver (kgs) 2,002.6 116.8 1614.23% The RSI is on verge of moving above its average, which when
happens would lead to further buying support. The Stochastic is
Crude (bbl) 26,884.6 806.8 3232.25% placed below its average, which would lead to regular bouts of profit
Source – MCX taking and selling pressure. The –DI line is moving down but still
trading at 40.72 indicating sellers have an upper hand. MCX Silver
Turnover (In Lacs) faces resistance at 52365, 54377, 56981 and 61708 levels, while the
supports are placed at 49828, 45824 and 42708 levels.
3/10/2011 1/10/2011 % Chg.
Gold 1,144,876.2 48,370.0 2266.91% MCX CRUDE (OCT 11) - Crude opened lower at 3920 level. It
touched a high of 3938 but failed to sustain higher. Selling pressure
Silver 1,041,131.5 59,636.4 1645.80% was witnessed during the day as Crude drifted lower to touch an
Crude 1,037,907.1 31,739.2 3170.12% intra-day low of 3805. It ended the day at 3835 with large losses.
Source – MCX
The RSI is placed below its average, which would lead to selling
support. The Stochastic too is placed below its average but in the
Global Market (Nymex - $)
oversold zone, which would lead to short covering and buying
4/10/2011 3/10/2011 % Chg. support. The –DI line is moving higher and is placed above the 30
level indicating sellers have an upper hand. While the ADX and +DI
Gold (oz) 1,661.00 1,656.00 0.30%
line are moving sideways. It faces resistance at 3938, 3985 and 4129
Silver (oz) 30.60 30.75 -0.49% levels, while the supports are placed at 3800, 3747, 3614 and 3543
levels.
Crude (bbl) 76.75 77.61 -1.11%
Dollar Index 79.61 79.55 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 3835 3859 3914 3992 4125 3781 3726 3593
GOLD DEC 11 26733 26643 26914 27094 27545 26463 26192 25741
SILVER DEC 11 52044 52040 52804 53564 55088 51280 50516 48992
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Tuesday
Oct. 04 Oct. 05 Oct. 06 Oct. 07 Oct. 11
ADP Employment
Factory Orders Jobless Claims Employment Situation FOMC Minutes
Report
EIA Natural Gas NFIB Small Business
Motor Vehicle Sales ISM Non-Mfg Index Consumer Credit
Report Optimism Index
EIA Petroleum Status 4-Week Bill
Ben Bernanke Speaks Chain Store Sales Wholesale Trade
Report Announcement
Challenger Job-Cut Monster Employment
3-Yr Note Auction
Report Index
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