1. Daily Commodity Outlook
25th November 2011
MCX GOLD (DEC 11) - Gold opened lower at 28730. Incidentally,
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Dec-11)
this was also the highest traded price for the day. It moved lower to
touch an intra-day low of 28518. However, it managed to bounce
Open 28,730 55,657 5,072 back from the lows of the day to ended the day with modest losses
High 28,730 55,768 5,072 to close at 28549.
Low 28,518 55,042 5,026 The RSI remains placed below its average, which would lead to
Close 28,549 55,251 5,062 selling pressure. However, the Stochastic is placed above its
average, which would lead to intermediate bouts of short covering
Prev. Close 28,780 55,846 5,074
and selective buying support. However, it is nearing the over bought
% Change -0.80% -1.07% -0.24% zone. The ADX, +DI and -DI line are moving sideways, indicating a
range bound trend. MCX GOLD faces resistance at 28960, 29212,
Source – MCX
29500 and 30000, while the supports are placed at 28152, 27954,
26768 and 26000 levels.
Volume (In 000's)
24/11/2011 23/11/2011 % Chg. MCX SILVER (DEC 11) - Silver opened lower at 55657. It moved
lower to touch an intra-day low of 54703 on back of sustained
Gold (gms) 20,545.0 51,423.0 -60.05% selling pressure. However, it managed to bounce back from the
Silver (kgs) 1,026.6 2,565.6 -59.99% lows of day to touch an intra-day high of 55768. It ended the day
with modest losses to close at 55251.
Crude (bbl) 8,770.8 23,322.5 -62.39%
Source – MCX The RSI is placed below its average, which would lead to further
selling pressure. However, the Stochastic is already placed above
Turnover (In Lacs) its average, which would lead to buying support at lower levels. The
ADX, -DI and +DI line are moving sideways, indicating a range
24/11/2011 23/11/2011 % Chg. bound trend. MCX Silver faces resistance at 61708, 61884 and
Gold 587,122.5 1,472,961.8 -60.14%
64605 levels, while the supports are placed at 54754, 52725, 52365
and 51226 levels.
Silver 568,472.4 1,422,851.6 -60.05%
Crude 442,379.3 1,177,741.4 -62.44%
MCX CRUDE (DEC 11) - Crude opened lower at 5072 level.
Incidentally, this was also the highest traded price for the day. It
Source – MCX moved lower to touch an intra-day low of 5026 on back of sustained
selling pressure. However, it managed to bounce back from the
Global Market (Nymex - $) lows of day to end the day with modest losses to close at 5062.
25/11/2011 24/11/2011 % Chg.
The RSI is placed below its average, which would lead to further
Gold (oz) 1,698 1,706 -0.47% selling pressure. However, the Stochastic is placed above its
average, which would lead to buying support at lower levels. The
Silver (oz) 31.88 31.96 -0.25%
ADX and –DI line are moving sideways, but +DI line is still placed at
Crude (bbl) 96.39 96.17 0.23% 34.94 indicating buyers have an upper hand. It faces resistance at
Dollar Index 79.24 79.13 0.14% 5174, 5200 and 5250 levels, while the supports are placed at 4889,
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 DEC 11 5062 5053 5081 5099 5145 5035 5007 4961
GOLD DEC 11 28549 28599 28680 28811 29023 28468 28387 28175
SILVER DEC 11 55251 55354 55665 56080 56806 54939 54628 53902
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2. US Economic Calendar:
Friday Monday Tuesday Wednesday Thursday
Nov. 25 Nov. 28 Nov. 29 Nov. 30 Dec. 01
Pending Home Sales
Weekly Bill Settlement New Home Sales Consumer Confidence New Home Sales
Index
ICSC-Goldman Store EIA Petroleum Status 4-Week Bill
Money Supply Data 6-Month Bill Auction
Sales Report Announcement
4-Week Bill FHFA House Price ADP Employment
Fed Balance Sheet 6-Month Bill Auction
Announcement Index Report
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