The daily commodity report summarizes prices and trends for gold, silver, and crude oil futures on the MCX exchange for July 23rd, 2012. Gold prices opened lower but moved up intraday before closing flat. Silver opened at its highest price but closed flat. Crude oil opened lower and closed flat after moving lower and higher intraday. Technical indicators show buying support for gold and silver, and a range-bound trend, while crude oil technicals point to selling pressure and profit taking. The report provides resistance and support price levels for each commodity.

1. Daily Commodity Report
23rd July 2012
MCX GOLD (4 AUGUST 12) - Gold opened lower at 29278 and
Gold Silver Crude
(4 Aug-12) (5 Sep-12) (20 Aug-12)
managed to move up further to touch an intra-day high of 29295.
However, it failed to sustain higher and moved lower. It touched an
Open 29,278 52,864 5,086 intra-day low of 29133. It ended the day on a flat note to close the
High 29,295 52,864 5,098 day at 29277.
Low 29,272 52,797 5,081 The RSI and the stochastic have moved above their respective
Close 29,277 52,842 5,093 averages, which would result in buying support. The ADX line, +DI
line and –DI line are moving sideways, indicating a range bound
Prev. Close 29,287 52,872 5,091
trend. MCX GOLD faces resistance at 29668, 30179, 30340, 30428
% Change -0.03% -0.06% 0.04% and 31000, while the supports are placed at 28859, 28765 and
27962 levels.
Source – MCX
MCX SILVER (5 SEPT 12) - Silver opened higher at 52864.
Volume (In 000's)
Incidentally, this is the highest price recorded for the day. However,
21/7/2012 20/7/2012 % Chg. it failed to sustain higher and moved lower to touch an intra-day low
of 52797. It ended the day flat to close at 52842.
Gold (gms) 1,225.0 32,068.0 -96.18%
Silver (kgs) 31.5 1,657.1 -98.10% The RSI and the stochastic have moved above their respective
averages, which would result in buying support. The ADX line, +DI
Crude (bbl) 505.7 23,161.7 -97.82%
line and –DI line are moving sideways, indicating a range bound
Source – MCX trend. MCX Silver faces resistance at 53675, 54570, 55551, 56157
and 57737 while the supports are placed at 51559, 51029, and
Turnover (In Lacs) 50252 levels.
21/7/2012 20/7/2012 % Chg. MCX CRUDE (20 August 12) - Crude opened lower at 5086 level
Gold 35,867.2 937,307.2 -96.17%
and moved further lower to touch an intra-day low of 5081.
However, it managed to move higher to touch an intra-day high of
Silver 16,640.7 872,637.5 -98.09% 5098. It ended the day flat to close at 5093.
Crude 25,728.2 1,177,059.9 -97.81%
The Stochastic has slipped below its average. Moreover the
Source – MCX Stochastic and RSI both are placed in the over bought zone. These
conditions would lead to selling pressure and profit taking at regular
Global Market (Nymex - $) intervals. However, the RSI is still placed above its average, which
23/7/2012 21/7/2012 % Chg. would lead to buying support. The +DI line and ADX line are moving
higher, while the –DI line is moving lower. The +DI line remains
Gold (oz) 1,578.40 1,582.80 -0.28%
placed above the 36 level and has come off its recent highs,
Silver (oz) 27.06 27.28 -0.82% indicating buyers are booking profits at regular intervals. It faces
Crude (bbl) 90.51 91.83 -1.44% resistance at 5184, 5217 and 5290 while the supports are placed at
4777, 4737 and 4681.
Dollar Index 83.68 83.48 0.25%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE AUG 12 5093 5091 5100 5108 5125 5083 5074 5057
GOLD AUG 12 29277 29281 29291 29304 29327 29268 29258 29235
SILVER SEP 12 52842 52834 52872 52901 52968 52805 52767 52700
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