1. Daily Commodity Outlook
15th November 2011
MCX GOLD (DEC 11) - Gold opened higher at 28930. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
higher to touch 29057 but failed to sustain higher. It moved lower to
an intra-day low of 28880. It ended the day with marginal gains to
Open 28,930 57,900 4,941 close at 28938.
High 29,057 58,095 4,970
The RSI is placed above its average, which would lead to buying
Low 28,880 57,125 4,896 support at lower levels. However, the Stochastic has breached its
Close 28,938 57,215 4,919 average. Moreso, both are also placed in the over bought zone,
which would lead to intermediate bouts of profit taking and selling
Prev. Close 28,886 57,694 4,942
pressure. The ADX and -DI line are moving sideways, while +DI
% Change 0.18% -0.83% -0.47% line is placed at 35.09 level, indicating buyers still have an upper
hand. MCX GOLD faces resistance at 29000, 29057 and 29123
Source – MCX
levels, while the supports are placed at 28925, 28152, 27954,
26768 and 26000 levels.
Volume (In 000's)
14/11/2011 12/11/2011 % Chg. MCX SILVER (DEC 11) - Silver opened higher at 57900. It moved
higher to touch an intra-day high of 58095. However, it failed to
Gold (grms) 35,808.0 1,761.0 1933.39% sustain higher and moved lower to touch an intra-day low of 57125.
Silver (kgs) 1,595.0 47.7 3245.88% It ended the day with modest losses to close at 57215.
Crude (bbl) 20,943.8 471.3 4343.84%
The Stochastic has again moved above its average, which would
Source – MCX lead to buying support at lower levels. However, the RSI has
breached its average. Moreso, both are also placed in the over
Turnover (In Lacs) bought zone, which would lead to intermediate bouts of profit
taking and selling pressure. The ADX, -DI and +DI line are moving
14/11/2011 12/11/2011 % Chg. sideways indicating a range bound trend. MCX Silver faces
Gold 1,037,330.7 50,896.1 1938.13% resistance at 61708, 61884 and 64605 levels, while the supports
are placed at 54754, 52725 and 52365 levels.
Silver 919,440.0 27,523.5 3240.56%
Crude 1,033,458.5 23,283.4 4338.62% MCX CRUDE (NOV 11) - Crude opened flat at 4941 level. It moved
higher to touch an intra-day high of 4970. But it failed to sustain
Source – MCX higher and moved lower to touch an intra-day low of 4896. It ended
the day with modest losses to close at 4919.
Global Market (Nymex - $)
15/11/2011 14/11/2011 % Chg.
The RSI is placed above its averages, which would lead to buying
support. However, the Stochastic has once again slipped below its
Gold (oz) 1,779.20 1,778.40 0.04% average. Moreso, both are placed in the over bought zone which
Silver (oz) 34.24 34.024 0.63% would lead to intermediate bouts of profit taking and selling
pressure. The ADX and –DI line are moving sideways, but +DI line
Crude (bbl) 98.24 98.14 0.10% is still placed at 38.69 indicating buyers have an upper hand. It
Dollar Index 77.55 77.54 0.01% faces resistance at 4939, 5047 and 5098 levels, while the supports
are placed at 4879, 4618, 4493 and 4291 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE NOV 11 4919 4928 4961 5002 5076 4887 4854 4780
GOLD DEC 11 28938 28958 29037 29135 29312 28860 28781 28604
SILVER DEC 11 57215 57478 57832 58448 59418 56862 56508 55538
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