The daily commodity report summarizes movements in gold, silver, and crude oil futures contracts on the MCX exchange for February 22, 2012. Gold futures closed slightly higher at 28,380 after trading in a range. Silver futures also closed with moderate gains at 57,157 after decreasing to an intra-day low but recovering. Crude oil futures finished marginally higher at 5,219 following a decrease to an intra-day low but gaining back lost ground. The technical indicators for all three commodities suggest range-bound trading in the near term.

1. Daily Commodity Report
22nd February 2012
MCX GOLD (APRIL 12) - Gold opened lower at 28149. It moved
Gold Silver Crude
(5 Apr-12) (5 Mar-12) (19 Mar-12)
lower to touch an intra day low of 28137. However, it managed to
bounce back from the lows to touch an intra-day high of 28435. It
Open 28,149 56,348 5,209 ended the day with moderate gains to close at 28380.
High 28,435 57,300 5,240
The RSI and the Stochastic are placed above their respective
Low 28,137 56,242 5,181
averages and would lead to buying support at regular intervals. The
Close 28,380 57,157 5,219 ADX line, -DI line and +DI line are moving sideways, indicating a
Prev. Close 28,158 56,320 5,213
range bound trend. MCX GOLD faces resistance at 28960, 29212
and 29433, while the supports are placed at 27557, 26347 and
% Change 0.79% 1.49% 0.12% 25500 levels.
Source – MCX
MCX SILVER (MARCH 12) - Silver opened higher at 56348. It
Volume (In 000's) moved lower to touch an intra-day low of 56242. However, it
managed a bounce back from lower levels. It touched an intra-day
21/2/2012 20/2/2012 % Chg. high of 57300. It ended the day with moderate gains to close at
Gold (gms) 38,016.0 6,193.0 513.85% 57157.
Silver (kgs) 1,717.4 306.5 460.43%
The RSI has moved above its average, which would lead to buying
Crude (bbl) 11,619.1 4,143.0 180.45% support. However, the Stochastic is placed above its average and
Source – MCX would lead to buying support at lower levels. The ADX line, +DI line
and -DI line are moving sideways, indicating range bound trend.
MCX Silver faces resistance at 57400, 57834, 58480 and 61708,
Turnover (In Lacs)
while the supports are placed at 54671, 53170 and 51366 levels.
21/2/2012 20/2/2012 % Chg.
MCX CRUDE (MARCH 12) - Crude opened lower at 5209 level. It
Gold 1,076,165.7 174,328.8 517.32%
moved lower to touch an intra-day low of 56242. However, it
Silver 974,896.6 172,533.8 465.05% managed a bounce back from lower levels. It moved higher to touch
an intra-day high of 5240. It ended the day with marginal gains to
Crude 604,649.8 216,224.1 179.64%
close at 5219.
Source – MCX
The RSI is placed above its average, which would lead to regular
Global Market (Nymex - $) bouts of buying support. However, the Stochastic has slipped below
22/2/2012 21/2/2012 % Chg. its average. More so both RSI and Stochastic are placed around the
over bought zone, which would lead to regular bouts of profit taking.
Gold (oz) 1,754.60 1,757.10 -0.14% The ADX line, and –DI line are moving sideways, but +DI line is
Silver (oz) 34.22 34.43 -0.62% placed at 35.07 indicating buyers are gaining strength. It faces
resistance at, 5318, 5366 and 5462, while the supports are placed
Crude (bbl) 105.88 103.24 2.56%
at 5095, 4905 and 4727 levels.
Dollar Index 79.14 79.11 0.04%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAR 12 5219 5213 5246 5272 5331 5187 5154 5095
GOLD APR 12 28380 28317 28498 28615 28913 28200 28019 27721
SILVER MAR 12 57157 56900 57557 57958 59016 56499 55842 54784
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