1. Daily Commodity Outlook
11th November 2011
MCX GOLD (DEC 11) - Gold opened lower at 28925. Incidentally,
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
this was also the highest point of the day. It moved lower to touch
an intra-day low of 28453. However, it managed to bounce to end
Open 28,925 57,338 4,860 the day on with modest losses to close at 28700.
High 28,925 57,550 4,953
The RSI is placed above its average, which would lead to buying
Low 28,453 55,688 4,856
support at lower levels. However, the Stochastic has breached its
Close 28,700 57,118 4,939 average. Moreso, both are also placed in the over bought zone,
which would lead to intermediate bouts of profit taking and selling
Prev. Close 29,014 57,672 4,859
pressure. The ADX and -DI line are moving sideways, while +DI
% Change -1.08% -0.96% 1.65% line is placed at 36.30 level, indicating buyers have an upper hand.
Source – MCX MCX GOLD faces resistance at 28825 and 29000 levels, while the
supports are placed at 28152, 27954, 26768 and 26000 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened lower at 57338. It moved
10/11/2011 9/11/2011 % Chg. higher to touch an intra-day high of 57750. However, it moved
lower to touch an intra-day low of 55688. It ended the day with
Gold (grms) 43,085.0 62,690.0 -31.27%
modest losses to close at 57118.
Silver (kgs) 1,735.0 2,209.1 -21.46%
Crude (bbl) 19,846.3 29,140.4 -31.89% The RSI and the Stochastic have breached their respective
averages, which would lead to selling pressure at regular intervals.
Source – MCX Moreso, both are also placed in the over bought zone and would
lead to profit taking. The ADX, -DI and +DI line are moving
Turnover (In Lacs) sideways indicating a range bound trend. MCX Silver faces
resistance at 61708, 61884 and 64605 levels, while the supports
10/11/2011 9/11/2011 % Chg.
are placed at 54754, 52725 and 52365 levels.
Gold 1,235,837.1 1,812,256.1 -31.81%
Silver 986,308.7 1,277,628.3 -22.80%
MCX CRUDE (NOV 11) - Crude opened marginally higher at 4860
level. It moved lower to touch an intra-day low of 4856. However,
Crude 973,073.5 1,400,355.4 -30.51% sustained buying support helped it to move higher. It touched an
Source – MCX intra-day high of 4953. It ended the day with moderate gains to
close at 4939.
Global Market (Nymex - $)
The RSI and Stochastic are placed above their respective
11/11/2011 10/11/2011 % Chg. averages, which would lead to further buying support. However,
both are placed in the over bought zone which would lead to
Gold (oz) 1,767.90 1,759.60 0.47%
intermediate bouts of profit taking. The ADX and –DI line are
Silver (oz) 34.03 34.106 -0.22% moving sideways, but +DI line is still placed at 43.57 indicating
Crude (bbl) 97.86 97.78 0.08% buyers have an upper hand. It faces resistance at 5047 and 5098
levels, while the supports are placed at 4879, 4618, 4493 and 4291
Dollar Index 76.61 76.67 -0.08%
levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE NOV 11 4939 4916 4976 5013 5110 4879 4819 4722
GOLD DEC 11 28700 28693 28932 29165 29637 28460 28221 27749
SILVER DEC 11 57118 56785 57883 58647 60509 56021 54923 53061
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