- Gold, silver, and crude oil prices opened lower and fell further during the day, closing down 2.31%, 1.34%, and 3.32% respectively. - Technical indicators like the RSI and stochastic signals continued selling pressure across commodities, though stochastic was in oversold territory, risking short-term rebounds. - Downward pressure was seen from falling ADX and rising negative DI lines, showing sellers maintaining an advantage. Key support and resistance levels are outlined for near-term trades.

1. Daily Commodity Report
16th December 2011
MCX GOLD (FEB 12) - Gold opened lower at 28060. Incidentally,
Gold Silver Crude
(4 Feb-11) (5 Mar-11) (19 Dec-11)
this was also the highest price for the day. It moved lower during the
day to touch an intra-day low of 27287 on back of sustained selling
Open 28,060 54,248 5,200 pressure. It ended the day with heavy losses to close at 27531.
High 28,060 54,248 5,200
The RSI and Stochastic remain placed below their respective
Low 27,287 52,316 5,021 averages, which would lead to further selling pressure. However,
Close 27,531 53,604 5,036 the Stochastic is placed in the over sold zone and would lead to
intermediate bouts of short covering. The ADX and +DI are moving
Prev. Close 28,183 54,332 5,209
sideways, while -DI line has witnessed a breakout and is placed at
% Change -2.31% -1.34% -3.32% 39.23, indicating sellers have an upper hand. MCX GOLD faces
resistance at 27954, 28152, 28960 and 29212, while the supports
Source – MCX
are placed at 26347, 25500 and 24992 levels.
Volume (In 000's)
MCX SILVER (MAR 12) - Silver opened lower at 54248.
15/12/2011 14/12/2011 % Chg. Incidentally, this was also the highest price for the day. It moved
lower during the day to touch an intra-day low of 52316 on back of
Gold (gms) 82,339.0 79,527.0 3.54% sustained selling pressure. It ended the day with moderate losses to
Silver (kgs) 3,583.2 3,558.1 0.71% close at 53604.
Crude (bbl) 22,533.0 24,395.9 -7.64%
The RSI and the Stochastic are placed below their respective
Source – MCX averages, which would lead to further selling pressure. However,
the Stochastic is placed in the over sold zone and intermediate
Turnover (In Lacs) bouts of short covering is likely to be witnessed at lower levels. The
ADX and +DI are moving sideways, while -DI line is moving higher
15/12/2011 14/12/2011 % Chg. at 36.35, indicating sellers have an upper hand. MCX Silver faces
Gold 2,281,966.8 2,262,746.9 0.85%
resistance at 54754, 61708, 61884 and 64605 levels, while the
supports are placed at 52725, 52365, 51226 and 50223 levels.
Silver 1,906,303.5 1,956,399.5 -2.56%
Crude 1,151,218.4 1,288,277.0 -10.64%
MCX CRUDE (DEC 11) - Crude opened lower at 5200 level. It
moved higher to touch an intra-day high of 5368. Incidentally, this
Source – MCX was also the highest price for the day. It moved lower during the day
to touch an intra-day low of 5021 on back of sustained selling
Global Market (Nymex - $) pressure. It ended the day with large losses to close at 5036.
16/12/2011 15/12/2011 % Chg.
The RSI and the Stochastic are placed below their respective
Gold (oz) 1,583.10 1,575.90 0.46% averages, which would lead to further selling pressure. However,
the Stochastic is placed near the over bought zone, which would
Silver (oz) 29.36 29.23 0.43%
lead to intermediate bouts of short covering. The ADX and +DI line
Crude (bbl) 93.97 93.87 0.11% are moving sideways, while -DI line is moving higher. It faces
Dollar Index 80.17 80.24 -0.08% resistance at 5115, 5174 and 5200 levels, while the supports are
placed at 5008, 4647 and 4156 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE DEC 11 5036 5086 5150 5265 5444 4971 4907 4728
GOLD FEB 11 27531 27626 27965 28399 29172 27192 26853 26080
SILVER MAR 11 53604 53389 54463 55321 57253 52531 51457 49525
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2. US Economic Calendar:
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Dec. 16 Dec. 19 Dec. 20 Dec. 21 Dec. 22
Consumer Price Index Housing Market Index Housing Starts Existing Home Sales GDP Data
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Jobless Claims
Announcement Sales Report
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