- Gold and silver futures opened higher on the MCX but failed to hold gains, closing lower. Crude oil futures closed slightly higher. - Technical indicators show selling pressure could continue across commodities, but short-covering may provide support at lower levels. - Resistance and support levels are identified for each commodity futures contract.

1. Daily Commodity Report
6th March 2012
MCX GOLD (5 APRIL 12) - Gold opened higher at 28045. It moved
Gold Silver Crude
(5 Apr-12) (5 May-12) (19 Mar-12)
higher to touch an intra-day high of 28114. However, it failed to hold
on to the gains and moved lower. It touched an intra day low of
Open 28,045 59,869 5,321 27865. It ended the day with modest losses to close at 27948.
High 28,114 60,037 5,363
The RSI is placed below its averages, which would lead to selling
Low 27,865 58,265 5,283 pressure at regular intervals. However, the Stochastic has moved
Close 27,948 58,430 5,342 above its average and is also placed in the over sold territory, which
would lead to short covering and buying support at lower levels. The
Prev. Close 28,023 59,783 5,305
ADX line, -DI line and +DI line are moving sideways, indicating a
% Change -0.27% -2.26% 0.70% range bound trend. MCX GOLD faces resistance at 28960, 29212
and 29433, while the supports are placed at 27557, 26347 and
Source – MCX
25500 levels.
Volume (In 000's)
MCX SILVER (5 MAY 12) - Silver opened lower at 58204. It moved
05/03/2012 03/03/2012 % Chg. higher to touch an intra-day high of 60037. However, it failed to hold
on to the gains and moved lower. It touched an intra day low of
Gold (gms) 38,016.0 33,826.0 12.39% 58265. It ended the day with modest losses to close at 58430.
Silver (kgs) 2,519.9 1,543.8 63.22%
The RSI is placed below its averages, which would lead to selling
Crude (bbl) 15,033.5 14,880.0 1.03%
pressure at regular intervals. However, the Stochastic has moved
Source – MCX above its average and is also placed in the over sold territory, which
would lead to short covering and buying support at lower levels. The
Turnover (In Lacs) –DI, +DI line and ADX line are moving sideways, indicating a range
bound trend. MCX Silver faces resistance at 61708, 65159 and
05/03/2012 03/03/2012 % Chg. 66261 while the supports are placed at 56157, 51029 and 50252
Gold 1,063,697.1 971,686.8 9.47%
levels.
Silver 1,493,451.5 905,168.3 64.99% MCX CRUDE (19 MARCH 12) - Crude opened higher at 5321 level.
Crude 801,410.5 746,312.0 7.38%
It moved lower to touch an intra-day low of 5283. However, it
managed to bounce back and move higher. It touched an intra day
Source – MCX high of 5363. It ended the day with moderate gains to close at 5342.
Global Market (Nymex - $) The RSI is placed below its average, which would lead to profit
06/03/2012 05/03/2012 % Chg.
taking and selling pressure. However, the Stochastic has moved
above its average and would lead to buying support at lower levels.
Gold (oz) 1,706.20 1,703.90 0.13% The –DI line and ADX line are moving sideways. However, the +DI
Silver (oz) 34.01 33.70 0.92% line is placed at 33.31 level indicating buyers are gaining strength. It
Crude (bbl) 106.76 106.72 0.04% faces resistance at 5436, 5462 and 5498 while the supports are
placed at 5150, 5095, 4905 and 4727 levels.
Dollar Index 79.44 79.30 0.17%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAR 12 5342 5329 5376 5409 5489 5296 5249 5169
GOLD APR 12 27948 27976 28086 28225 28474 27837 27727 27478
SILVER MAR 12 58430 58911 59556 60683 62455 57784 57139 55367
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2. US Economic Calendar:
Wednesday Thursday Friday Monday Tuesday
Mar. 07 Mar. 08 Mar. 09 Mar. 12 Mar. 13
Bank Reserve Jobless claims International Trade Treasury budget Retail Sales
Settlement
Consumer Credit Bloomberg consumer Wholesale trade FOMC Meeting
comfort index Announcement
Productivity and Costs Money supply Employment situation Business Inventories
data
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