1. Daily Commodity Outlook
17th October 2011
MCX GOLD (DEC 11) - Gold opened flat at 26880. It remained range
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Oct-11)
bound touching intra-day high of 26897 and intra-day low of 26850. It
ended the day on a flat note to close at 26887.
Open 26,880 53,278 4,271
High 26,897 53,490 4,286 The RSI is placed above its average, which would lead to regular
bouts of buying support. However, the Stochastic is placed in the
Low 26,850 53,278 4,271
over bought zone but is placed below its average, which would lead
Close 26,887 53,405 4,280 to profit taking and selling pressure. The ADX, +DI line and –DI line
Prev. Close 26,881 53,292 4,259
are moving sideways indicating a range bound trend. MCX GOLD
faces resistance at 27964, 28235, 28525, 28744 levels, while the
% Change 0.02% 0.21% 0.49% supports are placed at 25360, 24992 and 23176 levels.
Source – MCX
MCX SILVER (DEC 11) - Silver also opened on a flat note at 53278,
Volume (In 000's) which incidentally was also high for the day. It remained range bound
touching intra-day high of 53490 and intra-day low of 53278. It ended
15/10/2011 14/10/2011 % Chg. the day with marginal gains to close at 53405.
Gold (grms) 1,891.0 40,256.0 -95.30%
The RSI is placed above its average, which would lead to regular
Silver (kgs) 62.6 2,119.8 -97.05%
bouts of buying support. However, the Stochastic is placed below its
Crude (bbl) 594.9 20,071.4 -97.04% average, which would lead to profit taking and selling pressure.
Source – MCX However, it has come off it s over bought zone and nearing its over
sold zone. The –DI line remains placed at 31.76 indicating sellers still
have an upper hand. MCX Silver faces resistance at 54377, 56981
Turnover (In Lacs)
and 61708 levels, while the supports are placed at 52365, 49828,
15/10/2011 14/10/2011 % Chg. 45824 and 42708 levels.
Gold 50,830.3 1,078,056.9 -95.29%
MCX CRUDE (OCT 11) - Crude opened higher at 4271 level, which
Silver 33,404.6 1,127,123.4 -97.04% incidentally was also low of the day. It moved higher to touch 2486. it
ended the day at 4280 with modest gains.
Crude 25,453.3 846,010.1 -96.99%
Source – MCX The RSI is placed above its average, which would lead to buying
support. However, the Stochastic is placed above its average and in
Global Market (Nymex - $) the over bought zone and would lead to profit taking and selling
17/10/2011 15/10/2011 % Chg. pressure. The ADX, and –DI line are moving sideways, while the +DI
line is placed above the 30 level, indicating buyers have an upper
Gold (oz) 1,681.30 1,682.20 -0.05% hand. It faces resistance at 4301 and 4449 and 4548 levels, while the
Silver (oz) 32.22 32.15 0.22% supports are placed at 4182, 4129, 4038, 3916 and 3794 levels.
Crude (bbl) 87.18 87.48 -0.34%
Dollar Index 76.77 76.61 0.21%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4280 4279 4287 4294 4309 4272 4264 4249
GOLD DEC 11 26887 26878 26906 26925 26972 26859 26831 26784
SILVER DEC 11 53405 53391 53504 53603 53815 53292 53179 52967
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Monday
Oct. 17 Oct. 18 Oct. 19 Oct. 20 Oct. 24
Chicago Fed National
Industrial Production Producer Price Index Consumer Price Index Jobless Claims
Activity Index
Empire State Mfg 4-Week Bill
Housing Market Index Housing Statistics Existing Home Sales
Survey Announcement
Treasury International EIA Petroleum Status Philadelphia Fed
30-Yr Bond Settlement 6-Month Bill Auction
Capital Report Survey
EIA Natural Gas
Ben Bernanke Speech
Report
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