1. Daily Commodity Outlook
11th October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26431 It remained
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Oct-11) range bound during the day and touched intra-day low of 26427.
However, it moved higher in the late night trade to touch intra-day
Open 26,431 52,603 4,075 high of 26699. It ended the day with modest gains to close at 26663.
High 26,699 53,535 4,200
Low 26,427 52,566 4,075 The RSI and the Stochastic remain placed above their respective
averages. Both these conditions would lead to buying support.
Close 26,663 53,028 4,187
However, the Stochastic is nearing the over bought zone. The ADX,
Prev. Close 26,350 52,297 4,071 +DI line and –DI line are moving sideways. MCX GOLD faces
% Change 1.19% 1.40% 2.85% resistance at 27964, 28235, 28525, 28744 levels, while the supports
are placed at 25360, 24992 and 23176 levels.
Source – MCX
MCX SILVER (DEC 11) - Silver opened higher at 52603. It touched
Volume (In 000's) intra-day high of 53535 but failed to sustain higher due to profit
10/10/2011 8/10/2011 % Chg. taking. It touched intra-day low of 52566 before closing the day with
modest gains at 53028.
Gold (grms) 36,952.0 2,071.0 1684.26%
Silver (kgs) 1,680.8 67.2 2400.04% The RSI is placed above its average, which would lead to regular
bouts of buying support. However, the Stochastic is placed near the
Crude (bbl) 16,510.5 418.7 3843.28%
over bought zone and has slipped below its average, which would
Source – MCX lead to profit taking. The –DI line remains placed at 34.24 indicating
sellers still have an upper hand. MCX Silver faces resistance at
Turnover (In Lacs) 54377, 56981 and 61708 levels, while the supports are placed at
52365, 49828, 45824 and 42708 levels.
10/10/2011 8/10/2011 % Chg.
Gold 981,991.8 54,507.1 1701.59% MCX CRUDE (OCT 11) - Crude opened higher at 4075 level.
Silver 892,280.8 35,121.9 2440.52% Incidentally this was also low for the day. It moved higher to touch an
intra-day high of 4200. It ended the day at 4187 to close with
Crude 685,352.4 17,025.7 3925.40% moderate gains.
Source – MCX
The RSI is placed above its average. Moreso, the Stochastic is also
Global Market (Nymex - $) placed above its average. Both these conditions would lead to buying
support. However, the Stochastic is placed in the over bought zone
11/10/2011 10/10/2011 % Chg.
and would lead to profit taking at higher levels. The ADX, +DI line
Gold (oz) 1,672.80 1,669.60 0.19% and –DI line are moving sideways but the +DI line has moved above
30 indicating buyers have an upper hand. It faces resistance at 4262,
Silver (oz) 32.38 31.94 1.38%
4301 and 4449 levels, while the supports are placed at 4129, 4038,
Crude (bbl) 85.35 85.41 -0.07% 3916 and 3794 levels.
Dollar Index 77.64 77.62 0.03%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4187 4154 4233 4279 4404 4108 4029 3904
GOLD DEC 11 26663 26596 26766 26868 27140 26494 26324 26052
SILVER DEC 11 53028 52297 52028 53266 54235 51059 51328 50359
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2. US Economic Calendar:
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Oct. 11 Oct. 12 Oct. 13 Oct. 14 Oct. 17
MBA Purchase
FOMC Minutes International Trade Retail Sales Data Industrial Production
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NFIB Small Business Empire State Mfg
10-Yr Note Auction Jobless Claims Consumer Sentiment
Optimism Index Survey
4-Week Bill EIA Petroleum Status
Business Inventories 30-Yr Bond Settlement
Announcement Report
Import and Export
3-Yr Note Auction Treasury Budget
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