- Gold prices opened higher but fell intraday before closing with modest gains. Silver and crude oil also closed lower and higher respectively. - Technical indicators for gold, silver, and crude oil show buying support at regular intervals, although some are in overbought zones indicating potential profit taking. - The report provides resistance and support price levels for gold, silver, and crude oil futures. - Upcoming US economic data includes existing home sales, new home sales, and consumer sentiment reports.

1. Daily Commodity Report
22nd May 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 29018. It moved
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (19 Jun-12) lower to touch an intra-day low of 28956. However, it managed a
bounce back from lower levels to touch an intra-day high of 29174.
Open 29,018 54,525 5,069 It ended the day with modest gains to close at 29035.
High 29,174 54,805 5,133
The RSI and the Stochastic are placed above their respective
Low 28,956 53,865 5,055 averages. These conditions would lead to buying support at regular
Close 29,035 54,130 5,126 intervals. However, the Stochastic is placed in the over bought zone
and would lead to profit taking at higher levels. The ADX line, the –
Prev. Close 28,973 54,576 5,055 DI line and the +DI line are moving sideways, indicating a range
% Change 0.21% -0.82% 1.40% bound trend. MCX GOLD faces resistance at 29212, 29433 and
30000 while the supports are placed at 28960, 28084, 27855,
Source – MCX
27557 and 26517 levels.
Volume (In 000's) MCX SILVER (5 JULY 12) - Silver opened lower at 54525. It
21/5/2012 19/5/2012 % Chg.
moved higher to touch an intra-day high of 54805. However, it failed
to sustain higher and moved lower to touch an intra-day low of
Gold (gms) 33,330.0 2,422.0 1276.14% 53865. It ended the day with moderate losses to close at 54130.
Silver (kgs) 1,983.8 61.8 3110.10%
The RSI and the Stochastic are placed above their respective
Crude (bbl) 9,282.0 764.1 1114.76% averages. These conditions would lead to buying support at regular
Source – MCX
intervals. However, the Stochastic is placed in the over bought zone
and would lead to profit taking. The ADX line and the -DI line are
trending higher and both are placed above the 30 level indicating
Turnover (In Lacs)
sellers have an upper hand. MCX Silver faces resistance at 55551,
21/5/2012 19/5/2012 % Chg. 56157, 57737, 61708 and 65159 while the supports are placed at
51029, 50252 and 48562 levels.
Gold 968,665.2 70,184.0 1280.18%
MCX CRUDE (19 June 12) - Crude opened higher at 5069 level. It
Silver 1,076,555.9 33,731.0 3091.60%
moved lower to touch an intra-day low of 5055. However, it
Crude 472,972.9 38,257.4 1136.29% managed to bounce back and moved higher to touch an intra-day
Source – MCX
high of 5133. It ended the day with moderate gains to close at
5126.
Global Market (Nymex - $) The RSI and the Stochastic have moved above their respective
22/5/2012 21/5/2012 % Chg. averages, which would lead to buying support. Moreover, both are
also placed around the over sold zone, which would lead to regular
Gold (oz) 1,591.10 1,588.40 0.17%
bouts of short covering. The +DI line is moving sideways, while the
Silver (oz) 28.46 28.31 0.53% ADX line and the –DI line are trending and are placed above the 30
Crude (bbl) 92.63 92.57 0.06% level, however, the –DI line has come off its recent highs and is
currently placed at 32.31 indicating sellers are covering shorts at
Dollar Index 81.07 81.08 -0.02%
regular intervals. It faces resistance at 5058, 5160, 5264 and 5392,
Source – www.cmegroup.com while the supports are placed at 5000, 4905 and 4722 levels.
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point
R1 R2 R3 S1 S2 S3
CRUDE JUN 12 5126 5105 5154 5183 5261 5076 5027 4949
GOLD JUN 12 29035 29055 29154 29273 29491 28936 28837 28619
SILVER JUL 12 54130 54267 54668 55207 56147 53728 53327 52387
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2. US Economic Calendar:
Tuesday Wednesday Thursday Friday Tuesday
May 22 May 23 May 24 May 25 May 29
Existing Home Sales New Home Sales Jobless Claims Consumer Sentiment Consumer Confidence
ICSC-Goldman Store EIA Petroleum Status Durable Goods Dallas Fed Mfg
Sales Report Orders Survey
Richmond Fed MBA Purchase Bloomberg Consumer State Street Investor
Manufacturing Index Applications Comfort Index Confidence Index
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