1. Daily Commodity Outlook
12th October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26738 It remained
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Oct-11)
range bound during the day and touched intra-day high of 26853.
However, it moved lower in the late night trade to touch intra-day low
Open 26,738 53,350 4,185 of 26625. It ended the day flat to close at 26664.
High 26,853 53,595 4,253
The RSI and the Stochastic remain placed above their respective
Low 26,625 52,450 4,152
averages. Both these conditions would lead to buying support.
Close 26,664 53,269 4,240 However, the Stochastic is placed in the over bought zone, which
would lead to profit taking and selling pressure. The ADX, +DI line
Prev. Close 26,663 53,028 4,187
and –DI line are moving sideways. MCX GOLD faces resistance at
% Change 0.00% 0.45% 1.27% 27964, 28235, 28525, 28744 levels, while the supports are placed at
Source – MCX 25360, 24992 and 23176 levels.
Volume (In 000's) MCX SILVER (DEC 11) - Silver opened higher at 53350. It touched
intra-day high of 53595 but failed to sustain higher due to profit
11/10/2011 10/10/2011 % Chg. taking. It touched intra-day low of 52450 before closing the day with
Gold (grms) 41,409.0 36,952.0 12.06%
modest gains at 53269.
Silver (kgs) 2,070.5 1,680.8 23.19%
The RSI is placed above its average, which would lead to regular
Crude (bbl) 22,377.1 16,510.5 35.53% bouts of buying support. However, the Stochastic is placed in the
over bought zone and is placed above its average, which would lead
Source – MCX
to profit taking. The –DI line remains placed at 33.424 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
11/10/2011 10/10/2011 % Chg. 52365, 49828, 45824 and 42708 levels.
Gold 1,107,837.3 981,991.8 12.82%
MCX CRUDE (OCT 11) - Crude opened marginally lower at 4185
Silver 1,098,889.2 892,280.8 23.16% level. It moved lower to touch intra-day low of 4152. But it managed
to bounce back in the evening session to touch an intra-day high of
Crude 937,641.3 685,352.4 36.81%
4253. It ended the day at 4240 to close with modest 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
12/10/2011 11/10/2011 % Chg. support. However, the Stochastic is placed in the over bought zone
and would lead to profit taking at higher levels. The ADX, +DI line
Gold (oz) 1,660.60 1,659.70 0.05% and –DI line are moving sideways but the +DI line has moved above
Silver (oz) 32.01 31.98 0.09% 30 indicating buyers have an upper hand. It faces resistance at 4262,
4301 and 4449 levels, while the supports are placed at 4129, 4038,
Crude (bbl) 84.94 85.81 -1.01%
3916 and 3794 levels.
Dollar Index 77.77 77.62 0.19%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4240 4215 4278 4316 4417 4177 4114 4013
GOLD DEC 11 26664 26714 26803 26942 27170 26575 26486 26258
SILVER DEC 11 53269 52297 52144 53442 54587 50999 51152 50007
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2. US Economic Calendar:
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Oct. 12 Oct. 13 Oct. 14 Oct. 17 Oct. 18
MBA Purchase
International Trade Retail Sales Data Industrial Production Producer Price Index
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Empire State Mfg
10-Yr Note Auction Jobless Claims Consumer Sentiment Housing Market Index
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Business Inventories 30-Yr Bond Settlement
Report Capital
Import and Export
Treasury Budget Ben Bernanke Speech
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