1. Daily Commodity Outlook
28th November 2011
MCX GOLD (DEC 11) - Gold opened marginally higher at 28380. It
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (19 Dec-11)
moved lower to touch an intra-day low of 28360.However, buying
support at lower levels saw it moving higher to touch an intra-day
Open 28,380 54,175 5,049 high of 28424. It ended the day flat with marginal gains to close at
High 28,424 54,390 5,077 28409.
Low 28,360 54,100 5,049 The RSI and the Stochastic are placed below their respective
Close 28,409 54,329 5,068
averages, which would lead to selling pressure. However, the
Stochastic is placed in the over sold territory, which would lead to
Prev. Close 28,375 54,316 5,040 intermediate bouts of short covering and selective buying support.
% Change 0.12% 0.02% 0.56% The ADX, +DI and -DI line are moving sideways, indicating a range
bound trend. MCX GOLD faces resistance at 28960, 29212, 29500
Source – MCX and 30000, while the supports are placed at 28152, 27954, 26768
and 26000 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened lower at 54175. It moved
26/11/2011 25/11/2011 % Chg.
lower to touch an intra-day low of 54100 on back of selling pressure.
Gold (gms) 1,780.0 47,167.0 -96.23% However, it managed to bounce back from the lows of day to touch
an intra-day high of 54390. It ended the day flat with marginal gains
Silver (kgs) 73.2 2,167.7 -96.62%
to close at 54329.
Crude (bbl) 580.2 21,805.1 -97.34%
The RSI and the Stochastic are placed below their respective
Source – MCX
averages, which would lead to selling pressure. However, the
Stochastic is placed in the over sold territory, which would lead to
Turnover (In Lacs) intermediate bouts of short covering and selective buying support.
26/11/2011 25/11/2011 % Chg.
The ADX, -DI and +DI line are moving sideways, indicating a range
bound trend. MCX Silver faces resistance at 54754, 61708, 61884
Gold 50,548.7 1,340,663.0 -96.23% and 64605 levels, while the supports are placed at 52725, 52365
and 51226 levels.
Silver 39,747.8 1,184,866.4 -96.65%
Crude 29,385.2 1,095,858.0 -97.32% MCX CRUDE (DEC 11) - Crude opened higher at 5049 level.
Incidentally, this was also the lowest traded price for the day. It
Source – MCX moved higher to touch an intra-day high of 5077 on back of buying
support. It ended the day with moderate gains to close at 5068.
Global Market (Nymex - $)
The RSI and the Stochastic are placed below their respective
28/11/2011 26/11/2011 % Chg.
averages, which would lead to selling pressure. However, the
Gold (oz) 1,708 1,686 1.31% Stochastic is placed in the over sold territory, which would lead to
intermediate bouts of short covering and selective buying support.
Silver (oz) 31.76 31.014 2.41%
The ADX and –DI line are moving sideways, but +DI line is still
Crude (bbl) 98.44 96.77 1.73% placed at 31.52 indicating buyers have an upper hand. It faces
Dollar Index 79.25 79.61 -0.45% resistance at 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 5068 5065 5080 5093 5121 5052 5037 5009
GOLD DEC 11 28409 28398 28435 28462 28526 28371 28334 28270
SILVER DEC 11 54329 54273 54446 54563 54853 54156 53983 53693
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
Nov. 28 Nov. 29 Nov. 30 Dec. 01 Dec. 02
Pending Home Sales
New Home Sales Consumer Confidence New Home Sales Employment Situation
Index
ICSC-Goldman Store EIA Petroleum Status 4-Week Bill Monster Employment
6-Month Bill Auction
Sales Report Announcement Index
4-Week Bill FHFA House Price ADP Employment
6-Month Bill Auction
Announcement Index Report
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