1. Daily Commodity Outlook
21st September 2011
MCX GOLD (OCT 11) - Gold opened higher at 27725 on back of
Gold Silver Crude
(5 Oct-11) (5 Dec-11) (19 Oct-11) weak global economic cues. Buying support was witnessed as it
moved above the 27777 and 27964 resistance levels. It closed above
Open 27725 63479 4130 the 28000 level to end at 28039.
High 28099 64720 4210
The RSI has moved above its average, which would result in regular
Low 27580 63228 4130
bouts of buying support. The Stochastic remains placed above its
Close 28039 64376 4170 average; which would also lead to buying support and short covering.
Prev. Close 27665 63293 4125 The ADX, +DI line and –DI line are moving sideways indicating a
range bound trend. MCX GOLD faces resistance at 28235, 28525,
% Change 1.35% 1.71% 1.09%
28744 levels, while the supports are placed at 27964, 27777, 27184,
Source – MCX 26853 and 26899 levels.
MCX SILVER (DEC 11) - Silver also opened higher at 63479 buying
Volume (In 000's)
support was witnessed as Silver touched an intra-day high of 64720.
20/9/2011 19/9/2011 % Chg. It ended the day on a positive note to close at 64376.
Gold (grms) 83,151.0 76,952.0 8.06%
The RSI is placed below its average which would lead to selling
Silver (kgs) 2,382.0 2,209.4 7.81% pressure at higher levels. The Stochastic is however, placed above
its average, which would lead to buying support and short covering at
Crude (bbl) 21,014.5 11,600.8 81.15%
lower levels. The ADX, +DI line and –DI line are moving sideways
Source – MCX indicating a range bound trend. MCX Silver faces resistance at
64925, 66051, 66625 and 66893 levels, while the supports are
placed at 62763, 62129 and 60839 levels.
Turnover (In Lacs)
20/9/2011 19/9/2011 % Chg. MCX CRUDE (OCT 11) - Crude snapped a six day losing streak. It
opened higher at 4130 level, which also remained the day’s lowest
Gold 2,315,907.0 2,152,230.3 7.60%
point. Buying support was witnessed as it moved above the 4200
Silver 1,523,009.1 1,418,801.0 7.34% mark to touch 4210. However, profit taking and selling pressure at
higher levels saw Crude pair its gains to close at 4170 level.
Crude 876,175.5 480,702.9 82.27%
Source – MCX The RSI and the Stochastic are placed below their respective
averages, which is a negative sign and would lead to regular bouts of
Global Market (Nymex - $)
selling pressure. However, the Stochastic is placed in the over sold
zone, which would lead to short covering and buying support. The
21/9/2011 20/9/2011 % Chg. ADX, +DI line and –DI line are moving sideways indicating a range
bound trend. It faces resistance at 4174, 4207, 4449 and 4631 levels,
Gold (oz) 1,810.00 1,806.60 0.19%
while the supports are placed at 4007, 3955 and 3843 levels.
Silver (oz) 39.91 40.08 -0.42%
Crude (bbl) 86.83 86.92 -0.10%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4170 4170 4210 4250 4330 4130 4090 4010
GOLD OCT 11 28039 27906 28232 28425 28944 27713 27387 26868
SILVER DEC 11 64376 64108 64988 65600 67092 63496 62616 61124
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2. US Economic Calendar:
Tuesday Wednesday Thursday Monday Tuesday
Sept. 20 Sept. 21 Sept. 22 Sept. 26 Sept. 27
FOMC Meeting Bank Reserve Weekly Bill Chicago Fed National ICSC-Goldman Store
Begins Settlement Settlement Activity Index Sales
ICSC-Goldman Store MBA Purchase Consumer
Jobless Claims New Home Sales
Sales Applications Confidence
FHFA House Price
Housing Starts Existing Home Sales 3-Month Bill Auction 2-Year Note Auction
Index
EIA Petroleum Status EIA Natural Gas
4-Week Bill Auction 6-Month Bill Auction S&P Case-Shiller HPI
Report Report
FOMC Meeting
52-Week Bill Auction Fed Balance Sheet
Announcement
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