1. Daily Commodity Outlook
26th September 2011
MCX GOLD (OCT 11) - Gold opened higher at 26400. Though, it
Gold Silver Crude
(5 Oct-11) (5 Dec-11) (19 Oct-11) moved higher to touch 26793. Profit taking and selling pressure was
witnessed at higher levels. It closed at 26716 level.
Open 26400 52056 3963
High 26793 54377 4030 The RSI and Stochastic are placed below their respective averages,
Low 26293 51950 3951 which would result in regular bouts of selling pressure. However, the
Stochastic is placed near the over sold zone, which would lead to
Close 26716 53726 4002
regular bouts of short covering. The ADX, +DI line and –DI line are
Prev. Close 26184 52365 3972 moving sideways indicating a range bound trend. MCX GOLD faces
% Change 2.03% 2.60% 0.76% resistance at 27964, 28235, 28525, 28744 levels, while the supports
Source – MCX
are placed at 26376, 26184 and 25512 levels.
MCX SILVER (DEC 11) - Silver opened lower at 52056. Short
Volume (In 000's) covering and selective buying was witnessed. Silver moved higher at
24/9/2011 23/9/2011 % Chg. 54377. Profit taking and selling pressure at higher levels. It ended the
day with modest gains to close at 53726.
Gold (grms) 10,419.0 108,870.0 -90.43%
Silver (kgs) 491.3 4,148.9 -88.16% The RSI and Stochastic are placed below their respective average’s,
which would lead to further selling pressure. However, the RSI and
Crude (bbl) 747.7 26,614.8 -97.19%
Stochastic are placed in the over sold zone, which would lead to
Source – MCX regular bouts of short covering. The –DI line is on verge of a
breakout, while ADX and +DI line has moved higher and is placed
Turnover (In Lacs) above the 30 level, indicating sellers have an upper hand. MCX
Silver faces resistance at 54377, 56981 and 61708 levels, while the
24/9/2011 23/9/2011 % Chg. supports are placed at 52365, 51352 and 49807 levels.
Gold 277,161.7 2,958,418.0 -90.63%
MCX CRUDE (OCT 11) - Crude opened lower at 3963 level, but
Silver 260,929.3 2,400,162.9 -89.13%
moved higher to touch 4030 level. It ended the day to close with
Crude 29,877.9 1,057,329.5 -97.17% modest gains at 4002 level.
Source – MCX
The RSI and the Stochastic are placed below respective average’s,
which is a negative sign and would lead to regular bouts of selling
Global Market (Nymex - $) pressure. However, the Stochastic is placed in the over sold zone,
26/9/2011 24/9/2011 % Chg. which would lead to regular bouts of short covering. The –DI line is
placed above the 30 level indicating sellers have an upper hand.
Gold (oz) 1,659.30 1,637.50 1.33%
While the ADX and +DI line are moving sideways. It faces resistance
Silver (oz) 30.78 30.05 2.43% at 4007, 4174, 4207, 4449 and 4631 levels, while the supports are
placed at 3951, 3883 and 3850 levels.
Crude (bbl) 80.06 79.85 0.26%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4002 3994 4038 4073 4152 3959 3915 3836
GOLD OCT 11 26716 26601 26908 27101 27601 26408 26101 25601
SILVER DEC 11 53726 53351 54752 55778 58205 52325 50924 48497
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
Sept. 26 Sept. 27 Sept. 28 Sept. 29 Sept. 30
Chicago Fed National ICSC-Goldman Store Durable Goods Personal Income and
US GDP Data
Activity Index Sales Orders Outlays
Consumer EIA Petroleum Status
New Home Sales Jobless Claims Consumer Sentiment
Confidence Report
MBA Purchase Pending Home Sales
3-Month Bill Auction 2-Year Note Auction Chicago PMI
Applications Index
EIA Natural Gas
6-Month Bill Auction S&P Case-Shiller HPI
Report
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