1. Daily Commodity Report
17th May 2012
MCX GOLD (5 JUNE 12) - Gold opened lower at 28085. It moved
Gold Silver Crude
(5 Jun-12) (5 Jul-12) (21 May-12) higher to touch an intra-day high of 28193. However, it failed to
sustain higher and moved lower. It touched an intra-day low of
Open 28,085 52,819 5,074 27855. It ended the day with moderate losses to close at 27962.
High 28,193 53,118 5,120
The RSI is placed below its average, which would lead to selling
Low 27,855 51,201 5,003
pressure. However, the Stochastic is placed above its average.
Close 27,962 51,559 5,048 Moreover, the RSI and Stochastic are placed in the over sold zone,
which would lead to short covering and buying support at regular
Prev. Close 28,126 52,957 5,083
intervals. The ADX line and the +DI line are moving sideways but
% Change -0.58% -2.64% -0.69% the -DI line is moving higher and is placed at 38.93 level indicating
Source – MCX sellers are gaining strength. MCX GOLD faces resistance at
28084, 28960, 29212 and 29433, while the supports are placed at
Volume (In 000's)
27855, 27557 and 26517 levels.
16/5/2012 15/5/2012 % Chg. MCX SILVER (5 JULY 12) - Silver opened lower at 52819. It
moved higher to touch an intra-day high of 53118. However, it
Gold (gms) 53,502.0 37,497.0 42.68%
failed to sustain higher. It moved lower to touch an intra-day low of
Silver (kgs) 3,228.6 2,153.2 49.94% 51201. It ended the day with large losses to close at 51559.
Crude (bbl) 24,370.2 19,528.1 24.80%
The RSI and the Stochastic are placed below their respective
Source – MCX averages, which would lead to selling pressure. However, the
Stochastic and RSI are also placed in the over sold zone, which
Turnover (In Lacs) would lead to short covering at regular intervals. The ADX line and
the +DI line are moving sideways but the -DI line is moving higher
16/5/2012 15/5/2012 % Chg.
and is placed at 45.33 level indicating sellers are gaining strength.
Gold 1,498,197.2 1,053,556.0 42.20% MCX Silver faces resistance at 55551, 56157, 57737, 61708 and
65159 while the supports are placed at 51029, 50252 and 48562
Silver 1,689,815.3 1,144,398.3 47.66% levels.
Crude 1,231,415.0 996,408.0 23.59%
MCX CRUDE (21 May 12) - Crude opened lower at 5074 level It
Source – MCX moved higher to touch an intra-day high of 5120. However, it failed
to sustain higher. It moved lower to touch an intra-day low of 5003.
Global Market (Nymex - $) It ended the day with moderate losses to close at 5048.
17/5/2012 16/5/2012 % Chg.
The RSI and the Stochastic are placed below their respective
Gold (oz) 1,545.40 1,536.60 0.57% averages, which would lead to selling pressure. But both are also
Silver (oz) 27.21 27.17 0.13% placed in the over sold zone, which would lead to short covering at
lower levels. The ADX line and the +DI line are moving sideways.
Crude (bbl) 93.15 92.81 0.37%
The -DI line is placed at 39.51 level indicating sellers have an
Dollar Index 81.26 81.37 -0.14% upper hand. It faces resistance at 5057, 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 MAY 12 5048 5057 5111 5174 5291 4994 4940 4823
GOLD JUN 12 27962 28003 28152 28341 28679 27814 27665 27327
SILVER JUL 12 51559 51959 52718 53876 55793 50801 50042 48125
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2. US Economic Calendar:
Thursday Monday Tuesday Wednesday Thursday
May 17 May 21 May 22 May 23 May 24
Jobless Claims Chicago Fed National Existing Home Sales New Home Sales Jobless Claims
Activity Index
Bloomberg Consumer 4-Week Bill ICSC-Goldman Store EIA Petroleum Status Durable Goods
Comfort Index Announcement Sales Report Orders
E-Commerce Retail 3-Month Bill Auction Richmond Fed MBA Purchase Bloomberg Consumer
Sales Manufacturing Index Applications Comfort Index
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