The document provides a daily commodity report for gold, silver, and crude on the MCX exchange for May 7th, 2012. It summarizes the opening, high, low, and closing prices. The technical indicators like RSI, stochastic, and ADX are discussed and signal a range-bound trend. Resistance and support levels are provided. Volume and turnover saw large declines compared to the previous day. The report also includes international commodity prices and the upcoming US economic calendar.

1. Daily Commodity Report
7th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 29185. It moved
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) higher to touch an intra-day high of 29209 level. However, it failed
to sustain higher. It moved lower to touch an intra-day low of
Open 29,185 55,330 5,260 29169. It ended the day flat to close at 29185.
High 29,209 55,565 5,275
The Stochastic is placed below its average and is still placed in
Low 29,169 55,202 5,257
the over bought zone. More so the RSI is also placed in the over
Close 29,185 55,222 5,263 bought zone. These conditions would lead to regular bouts of
Prev. Close 29,190 55,282 5,249
profit taking and selling pressure. However, the RSI is placed
above its average, which would lead to buying support at lower
% Change -0.02% -0.11% 0.27% levels. The ADX line, +DI line and the -DI line are moving
Source – MCX sideways indicating a range bound trend. MCX GOLD faces
resistance at 29212 and 29433, while the supports are placed at
Volume (In 000's) 28960, 28084, 27557, 26517 and 26347 levels.
5/5/2012 4/5/2012 % Chg. MCX SILVER (5 JULY 12) - Silver opened higher at 56638. It
Gold (gms) 911.0 41,326.0 -97.80%
moved higher to touch an intra-day high of 56647 level. However,
it failed to sustain higher. It moved lower to touch an intra-day low
Silver (kgs) 3.6 1,901.4 -99.81% of 56562. It ended the day with marginal losses to close at 56576.
Crude (bbl) 551.4 29,029.4 -98.10%
The RSI and the Stochastic are placed below their respective
Source – MCX
averages. These conditions would lead to selling pressure.
However, the Stochastic has moved in the over sold zone, which
Turnover (In Lacs) would lead to short covering at lower levels. The ADX line and +DI
5/5/2012 4/5/2012 % Chg.
line are moving sideways, but –DI line is placed above the 30
level indicating sellers are gaining strength. MCX Silver faces
Gold 26,594.6 1,205,226.8 -97.79% resistance at 57737, 61708 and 65159 while the supports are
placed at 56157, 55551, 51029, 50252 and 48562 levels.
Silver 1,990.8 1,071,997.3 -99.81%
Crude 29,030.8 1,555,698.4 -98.13% MCX CRUDE (19 May 12) - Crude opened lower at 5260 level. It
Source – MCX moved higher to touch an intra-day high of 5275 level. However, it
failed to sustain higher and moved lower to touch an intra-day low
of 5257. It ended the day with modest gains to close at 5263.
Global Market (Nymex - $)
7/5/2012 5/5/2012 % Chg. The RSI and the Stochastic are placed below their respective
averages, which would lead to profit taking and selling pressure.
Gold (oz) 1,638.40 1,645.20 -0.41%
The ADX line, +DI line and –DI line are moving sideways. The -DI
Silver (oz) 30.21 30.38 -0.58% line has moved above the 30 level indicating sellers are gaining
Crude (bbl) 96.62 98.49 -1.90% strength. It faces resistance at 5264, 5392 and 5600, while the
supports are placed at 5160, 5057 and 4905 levels.
Dollar Index 79.94 79.50 0.56%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5263 5265 5273 5283 5301 5255 5247 5229
GOLD JUN 12 29185 29188 29206 29228 29268 29166 29148 29108
SILVER JUL 12 56576 56595 56628 56680 56765 56543 56510 56425
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
May 7 May 08 May 09 May 10 May 11
Consumer Credit NFIB Small Business EIA Petroleum Status Jobless Claims Producer Price Index
Optimism Index Report
3-Month Bill Auction ICSC-Goldman Store Wholesale Trade Data International Trade Consumer Sentiment
Sales
6-Month Bill Auction 3-Yr Note Auction EIA Petroleum Status Import and Export
Report Prices
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