- The daily commodity report summarizes prices and trading activity for gold, silver, and crude on the MCX exchange on January 16th, 2012. - Gold prices opened higher but fell to an intra-day low before closing with modest gains. Silver and crude also opened higher but saw selling pressure and fell to intra-day lows before closing slightly higher. - Technical indicators like the RSI, Stochastic, ADX, and DI lines suggest sellers have an advantage in gold and crude, while buyers have short-term support in silver.

1. Daily Commodity Report
16th January 2012
MCX GOLD (FEB 12) - Gold opened higher at 27540. Incidentally,
Gold Silver Crude
(4 Feb-12) (5 Mar-12) (19 Jan-12)
this was the highest price for the day. However, it moved lower to
touch an intra-day low of 27450 on back of profit taking and selling
Open 27,450 52,134 5,106 pressure. It ended the day with modest gains to close at 27507.
High 27,540 52,172 5,125
The RSI and the Stochastic are placed below their respective
Low 27,450 52,100 5,101
averages, which would result in selling pressure. However, the
Close 27,507 52,124 5,105 Stochastic is still placed in the over sold zone which, would lead to
Prev. Close 27,427 52,001 5,082
intermediate bouts of short covering at lower levels. The ADX line
and +DI line are moving sideways, while the -DI line is placed at
% Change 0.29% 0.24% 0.45% 32.26 level indicating sellers have an upper hand. MCX GOLD
Source – MCX faces resistance at 27954, 28152, 28960 and 29212, while the
supports are placed at 26347, 25500 and 24992 levels.
Volume (In 000's)
MCX SILVER (MAR 12) - Silver opened higher at 52134. It moved
14/1/2012 13/1/2012 % Chg. higher to touch an intra-day high of 52172. However, it failed to
Gold (gms) 2,227.0 46,660.0 -95.23% sustain and moved lower on back of selling pressure and touched
an intra-day low of 52100. It ended the day with modest gains to
Silver (kgs) 50.3 1,918.2 -97.38% close at 52124.
Crude (bbl) 543.2 21,922.3 -97.52%
Source – MCX The RSI is placed above their respective averages, which would
lead to intermediate bouts of buying support. However, the
Stochastic is placed below its average and would lead to profit
Turnover (In Lacs)
taking and selling pressure at higher levels. The ADX line, -DI line
14/1/2012 13/1/2012 % Chg. and +DI line are moving sideways, indicating a range bound trend.
MCX Silver faces resistance at 53200, 54184, 56480 levels, while
Gold 61,261.0 1,282,296.6 -95.22% the supports are placed at 50410, 49809, 48477 and 45824 levels.
Silver 26,197.6 1,001,170.1 -97.38%
MCX CRUDE (JAN 12) - Crude opened higher at 5106 level. It
Crude 27,755.5 1,120,987.9 -97.52%
moved higher to touch an intra-day high of 5125. However, it failed
Source – MCX to sustain and moved lower on back of selling pressure. It touched
an intra-day low of 5101. It ended the day with modest gains to
Global Market (Nymex - $) close the day at 5105.
16/1/2012 14/1/2012 % Chg.
The RSI and the Stochastic are placed below their respective
Gold (oz) 1,640.90 1,630.80 0.62% averages, which would result in intermediate bouts of selling
pressure. The ADX line and +DI line are moving sideways.
Silver (oz) 29.53 29.49 0.11%
However, -DI line is placed at 34.14 indicating sellers have an upper
Crude (bbl) 98.86 98.70 0.16% hand. It faces resistance at 5115, 5174, 5200 and 5380, while the
Dollar Index 81.56 81.46 0.13% supports are placed at 5065, 4950 and 4903 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE JAN 12 5105 5110 5120 5134 5158 5096 5086 5062
GOLD FEB 12 27507 27499 27548 27589 27679 27458 27409 27319
SILVER MAR 12 52124 52132 52164 52204 52276 52092 52060 51988
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Monday
Jan. 17 Jan. 18 Jan. 19 Jan. 20 Jan. 23
Empire State Mfg Producer Price Index Consumer Price Index Existing Home Sales 4-Week Bill
Survey Announcement
10-Yr Note Settlement Industrial Production Housing Starts 3-Month Bill Auction
6-Month Bill Auction Housing Market Index Jobless Claims 6-Month Bill Auction
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