1. Daily Commodity Outlook
21st October 2011
MCX GOLD (DEC 11) - Gold opened higher at 26401. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
lower to touch intra-day low of 26103. However, it managed to
bounce back from the lows in the evening to touch an intra-day high
Open 26,401 52,205 4,347 of 26488. It ended the day on with modest losses to close at 26347
High 26,488 52,895 4,347
The RSI is placed below its average. Further the Stochastic is also
Low 26,103 51,180 4,238
placed below its average. Both these conditions would fuel selling
Close 26,347 51,701 4,291 pressure. However, stochastic is nearing the over sold zone, which
Prev. Close 26,458 52,228 4,357
would lead to short covering and selective buying support. The
ADX, and +DI line are moving sideways but –DI line is placed at the
% Change -0.42% -1.01% -1.51% 33.18 level indicating sellers have an upper hand. MCX GOLD faces
Source – MCX resistance at 27964, 28235, 28525, 28744 levels, while the supports
are placed at 25360, 24992 and 23176 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened lower at 52205. It moved
20/10/2011 19/10/2011 % Chg. higher to touch intra-day high of 52895 in the evening session.
Gold (grms) 58,656.0 44,422.0 32.04% However, it failed to sustain on back of selling pressure and touched
the intra-day low of 51180 in late evening session. It ended the day
Silver (kgs) 2,932.4 2,602.3 12.69% with modest losses to close at 51701.
Crude (bbl) 25,551.2 14,035.0 82.05%
Source – MCX The RSI has slipped below its average, which would lead to regular
bouts of selling pressure. However, the Stochastic is placed above
its average, which would lead to short covering and buying support
Turnover (In Lacs)
at lower levels. The –DI line remains placed at 34.34 indicating
20/10/2011 19/10/2011 % Chg. sellers still have an upper hand. MCX Silver faces resistance at
52365, 54377, 56981 and 61708 levels, while the supports are
Gold 1,543,451.1 1,178,685.4 30.95% placed at 50223, 49828, 45824 and 42708 levels.
Silver 1,522,219.3 1,373,995.9 10.79%
MCX CRUDE (NOV 11) - Crude opened higher at 4347 level.
Crude 1,095,270.7 613,246.0 78.60%
Incidentally this was also high for the day. It moved lower to touch
Source – MCX an intra-day low of 4238. It ended the day at 4291 to end the day
with modest losses.
Global Market (Nymex - $)
21/10/2011 20/10/2011 % Chg.
The RSI is placed above its average, which would lead to buying
support. The Stochastic is placed below its average but is still
Gold (oz) 1,627.30 1,612.40 0.92% placed in the over bought zone, which and would lead to profit
Silver (oz) 30.57 30.27 0.97% taking and selling pressure. The ADX, +DI and –DI line are moving
sideways, indicating a range bound trend. It faces resistance at
Crude (bbl) 86.63 86.07 0.65% 4301, 4449, 4492 and 4548 levels, while the supports are placed at
Dollar Index 76.93 76.92 0.01% 4182, 4129 and 4038 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4291 4292 4346 4401 4510 4237 4183 4074
GOLD DEC 11 26347 26313 26522 26698 27083 26137 25928 25543
SILVER DEC 11 51701 51925 52671 53640 55355 50956 50210 48495
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
Oct. 24 Oct. 25 Oct. 26 Oct. 27 Oct. 28
Chicago Fed National Personal Income and
Consumer Confidence Durable Goods Orders US GDP Data
Activity Index Outlays
4-Week Bill FHFA House Price Employment Cost
New Home Sales Jobless Claims
Announcement Index Index
EIA Petroleum Status Pending Home Sales
6-Month Bill Auction S&P Case-Shiller HPI Consumer Sentiment
Report Index
State Street Investor EIA Natural Gas
Confidence Index Report
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