- The daily commodity report summarizes movements in gold, silver, and crude oil futures on the MCX exchange on January 19th, 2012. - Gold and crude oil futures closed lower after reaching intraday highs, while silver futures closed modestly higher. - Technical indicators like the RSI, Stochastic, ADX, and pivot points are referenced to gauge support and resistance levels and trading momentum. - The report provides resistance and support price levels for futures contracts as well as a calendar of upcoming US economic data releases and speeches.

1. Daily Commodity Report
19th January 2012
MCX GOLD (FEB 12) - Gold opened lower at 27550. It moved
Gold Silver Crude
(4 Feb-12) (5 Mar-12) (19 Jan-12)
higher to touch an intra-day high of 27582. However, it failed to
sustain and moved lower to touch an intra-day low of 27327 on
Open 27,550 53,099 5,119 back of profit taking and selling pressure. It ended the day with
High 27,582 53,515 5,152 modest losses to close at 27475.
Low 27,327 52,845 5,046
The RSI has slipped below its average, which would result in selling
Close 27,475 53,428 5,062 pressure. However, the Stochastic still placed near the over sold
Prev. Close 27,588 53,207 5,107
zone but is placed above its average, which would result in
intermediate bouts of short covering and buying support. The ADX
% Change -0.41% 0.42% -0.88% line and +DI line are moving sideways, while –DI line is placed
Source – MCX above 30 indicating sellers are gaining strength. MCX GOLD faces
resistance at 27954, 28152, 28960 and 29212, while the supports
Volume (In 000's) are placed at 26347, 25500 and 24992 levels.
18/1/2012 17/1/2012 % Chg. MCX SILVER (MAR 12) - Silver opened lower at 53099. It moved
Gold (gms) 48,561.0 48,937.0 -0.77% lower to touch an intra-day low of 52845. However, it moved higher
to touch an intra-day high of 53515. It ended the day with modest
Silver (kgs) 2,111.7 2,659.8 -20.60% gains to close at 53428.
Crude (bbl) 20,063.7 14,313.7 40.17%
Source – MCX The RSI and the Stochastic are placed above their respective
averages, which would result in buying support. The ADX line, -DI
line are moving sideways but +DI line has moved above the 30
Turnover (In Lacs)
level, indicating buyers are gaining strength. MCX Silver faces
18/1/2012 17/1/2012 % Chg. resistance at 53874, 54184, 56480 levels, while the supports are
placed at 53200, 50410, 49809, 48477 and 45824 levels.
Gold 1,333,141.0 1,353,847.9 -1.53%
Silver 1,123,195.3 1,417,780.0 -20.78% MCX CRUDE (FEB 12) - Crude opened higher at 5137 level. It
managed to move higher on back of short covering and buying
Crude 1,024,892.9 732,055.6 40.00%
support. It touched an intra-day high of 5183. However, it moved
Source – MCX lower to touch an intra-day low of 5083. It ended the day with
modest losses to close the day at 5096.
Global Market (Nymex - $)
The RSI is placed below its average, which would result in
19/1/2012 18/1/2012 % Chg.
intermediate bouts of selling pressure. However, the Stochastic is
Gold (oz) 1,663.00 1,659.50 0.21% placed above its average, which would lead to intermediate bouts of
buying support and short covering. The ADX line and +DI line are
Silver (oz) 30.55 30.52 0.10%
moving sideways. However, -DI line is placed at 33.20 indicating
Crude (bbl) 101.53 100.59 0.93% sellers have an upper hand. It faces resistance at 5115, 5174, 5200
Dollar Index 80.44 80.48 -0.05% and 5380, while the 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 FEB 12 5096 5121 5158 5221 5321 5058 5021 4921
GOLD FEB 12 27475 27461 27596 27716 27971 27341 27206 26951
SILVER MAR 12 53428 53263 53680 53933 54603 53010 52593 51923
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2. US Economic Calendar:
Thursday Friday Monday Tuesday Wednesday
Jan. 19 Jan. 20 Jan. 23 Jan. 24 Jan. 25
Jobless Claims Existing Home Sales 4-Week Bill FOMC Meeting Begins FOMC Meeting
Announcement Announcement
Consumer Price Index 3-Month Bill Auction US President Barack Pending Home Sales
Obama Speaks Index
Housing Starts 6-Month Bill Auction ICSC-Goldman Store EIA Petroleum Status
Sales Report
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