1. Daily Commodity Outlook
23rd November 2011
MCX GOLD (DEC 11) - Gold opened higher at 28485. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Dec-11)
lower to touch an intra-day low of 28470. However, it managed to
bounce back from the lows of the day to touch an intra-day high of
Open 28,485 54,523 5,034 28820. It ended the day with modest gains to close at 28799.
High 28,820 57,180 5,156
Low 28,470 54,523 5,034 The RSI remains placed below its average, which would lead to
selling pressure. However, the Stochastic has moved above its
Close 28,799 57,052 5,142 average, which would lead to intermediate bouts of short covering
Prev. Close 28,446 54,413 5,038 and selective buying support. The ADX, +DI and -DI line are
moving sideways, indicating a range bound trend. MCX GOLD
% Change 1.24% 4.85% 2.06%
faces resistance at 28960, 29212, 29500 and 30000, while the
Source – MCX supports are placed at 28152, 27954, 26768 and 26000 levels.
Volume (In 000's) MCX SILVER (DEC 11) - Silver opened higher at 54523.
22/11/2011 21/11/2011 % Chg.
Incidentally, this was also the lowest point of the day. It moved
higher to touch an intra-day high of 57180. It ended the day with
Gold (grms) 44,011.0 58,592.0 -24.89% large gains to close at 57052
Silver (kgs) 2,360.1 2,474.6 -4.63%
Crude (bbl) 24,615.2 22,710.1 8.39%
The RSI has moved above its average. Moreso, the Stochastic is
already placed above its average. Both these conditions would
Source – MCX lead to buying support. The ADX and +DI line are moving sideways
but – DI line is placed at the 31.65 level and indicating sellers have
Turnover (In Lacs) an upper hand. MCX Silver faces resistance at 61708, 61884 and
64605 levels, while the supports are placed at 54754, 52725,
22/11/2011 21/11/2011 % Chg.
52365 and 51226 levels.
Gold 1,261,663.6 1,679,003.9 -24.86%
Silver 1,315,866.9 1,350,316.8 -2.55% MCX CRUDE (DEC 11) - Crude opened lower at 5034 level. It
moved lower to touch an intra-day low of 4967. Incidentally, this
Crude 1,258,714.2 1,138,645.8 10.54% was also the lowest point of the day. It moved higher to touch an
Source – MCX intra-day high of 5156. It ended the day with handsome gains to
close at 5142.
Global Market (Nymex - $)
23/11/2011 22/11/2011 % Chg.
The RSI and Stochastic have moved above their respective
averages, which is a positive sign and would lead to intermediate
Gold (oz) 1,707.50 1,702.40 0.30% bouts of buying support. The ADX and –DI line are moving
Silver (oz) 32.53 32.95 -1.29% sideways, but +DI line is still placed at 39.54 indicating buyers have
an upper hand. It faces resistance at 5174 5200 and 5250 levels,
Crude (bbl) 96.95 98.01 -1.08% while the supports are placed at 4889, 4618, 4493 and 4291 levels.
Dollar Index 78.46 78.24 0.29%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE DEC 11 5142 5111 5187 5233 5355 5065 4989 4867
GOLD DEC 11 28799 28696 28923 29046 29396 28573 28346 27996
SILVER DEC 11 57052 56252 57980 58909 61566 55323 53595 50938
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2. US Economic Calendar:
Wednesday Friday Monday Tuesday Wednesday
Nov. 23 Nov. 25 Nov. 28 Nov. 29 Nov. 30
Pending Home Sales
Jobless Claims Data Weekly Bill Settlement New Home Sales Consumer Confidence
Index
ICSC-Goldman Store EIA Petroleum Status
Durable Goods Orders Money Supply Data 6-Month Bill Auction
Sales Report
Personal Income and 4-Week Bill FHFA House Price ADP Employment
Fed Balance Sheet
Outlays Announcement Index Report
Consumer Sentiment
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