- Gold, silver and crude oil futures opened higher on the MCX on April 30th, with gold seeing marginal gains and silver and crude oil posting modest losses by the end of the day. - Technical indicators like the RSI, stochastic and ADX signals support buying, but also suggest the markets may be overbought and prone to profit taking. - Key resistance and support levels are identified for each commodity futures contract.

1. Daily Commodity Report
30th April 2012
MCX GOLD (5 JUNE 12) - Gold opened higher at 29056.
Gold Silver Crude
(5 Jun-12) (5 May-12) (21 May-12) Incidentally, this was the lowest price for the day. It moved higher
to touch an intra-day high of 29117 level. It ended the day with
Open 29,056 55,908 5,504 marginal gains to close at 29109.
High 29,117 55,950 5,517
The RSI and the Stochastic are placed above their respective
Low 29,056 55,831 5,504
averages, which would lead to buying support. However, both are
Close 29,109 55,871 5,516 also placed in the over bought zone, which would lead to regular
bouts of profit taking, especially at higher levels. The ADX line and
Prev. Close 29,083 55,983 5,507
the -DI line are moving sideways, but the +DI line has moved
% Change 0.09% -0.20% 0.16% higher and is placed at 34.88 level indicating buyers gaining
Source – MCX strength. MCX GOLD faces resistance at 29212 and 29433, while
the supports are placed at 28960, 28084, 27557, 26517 and
26347 levels.
Volume (In 000's)
28/4/2012 27/4/2012 % Chg. MCX SILVER (5 MAY 12) - Silver opened lower at 55908. It
moved lower to touch an intra day low of 55831 but managed to
Gold (gms) 1,337.0 22,399.0 -94.03%
bounce back from lower levels. It moved higher to touch an intra-
Silver (kgs) 53.1 1,135.3 -95.32% day high of 55950 level. However, it came off the highs for the day
to end with modest losses. It closed the day at 55871.
Crude (bbl) 383.2 9,172.8 -95.82%
Source – MCX The RSI and the Stochastic are placed above their respective
averages. These conditions would lead to buying support.
Turnover (In Lacs) However, the Stochastic remains placed in the over bought zone,
which would lead to profit taking, especially at higher levels. The
28/4/2012 27/4/2012 % Chg. ADX line, +DI line and –DI line are moving sideways, indicating a
Gold 38,908.4 650,794.0 -94.02% range bound trend. MCX Silver faces resistance at 56157, 57737,
61708 and 65159 while the supports are placed at 55551, 51029
Silver 29,689.8 634,796.4 -95.32% and 50252 levels.
Crude 21,121.9 503,997.8 -95.81%
MCX CRUDE (19 May 12) - Crude opened lower at 5504 level.
Source – MCX Incidentally, this was the lowest price for the day. It moved higher
to touch an intra-day high of 5517 level. It ended the day with
Global Market (Nymex - $) modest gains to close at 5516.
30/4/2012 28/4/2012 % Chg.
The RSI and the Stochastic are placed above their respective
Gold (oz) 1,664.70 1,664.80 -0.01% averages. These conditions would lead to buying support.
Silver (oz) 31.29 31.35 -0.20%
However, the Stochastic is placed in the over bought zone, which
would lead to profit taking, especially at higher levels. The ADX
Crude (bbl) 104.72 104.93 -0.20% line, –DI line and +DI line are moving sideways, indicating a range
Dollar Index 79.14 79.35 -0.27% bound trend. It faces resistance at 5550 and 5635 while the
supports are placed at 5512, 5498, 5403, 5335 and 5305 levels.
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE MAY 12 5516 5512 5521 5525 5538 5508 5499 5486
GOLD JUN 12 29109 29094 29132 29155 29216 29071 29033 28972
SILVER MAY 12 55871 55884 55937 56003 56122 55818 55765 55646
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2. US Economic Calendar:
Monday Tuesday Wednesday Thursday Friday
Apr. 30 May 01 May 02 May 03 May 04
Personal Income and ISM Mfg Index Factory Orders Jobless Claims Monster Employment
Outlays Index
Chicago PMI Data Motor Vehicle Sales ADP Employment Productivity and Costs Employment Situation
Report
Dallas Fed Mfg Construction EIA Petroleum Status ISM Non-Mfg Index Treasury STRIPS
Survey Spending Report
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