COMMODITIES EVENING NOTE
Commodity Overview
October 22, 2012
Gold slipped to its weakest in a month today before recovering slightly as prices became more attractive, but
speculators unwinding long positions and worries about the health of the global economy could curb gains.
Crude oil steadied above $91 per barrel on first day of the week as fighting in Beirut and Gaza raised fears for the
security of fuel supplies from the Middle East, helping stem a four-day decline in prices.
London copper touched a one-month low today after disappointing earnings from leading U.S. companies and a
bigger than expected fall in Japan's exports dented appetite for riskier assets.
Economic Calendar:
Country
Time
Event
Period
Unit
Survey
Actual
Prior
LME Inventory:
Commodity
Change
-
-
-
-
-
Source :Reuters
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Copper
Zinc
Lead
Nickel
Aluminum
1525
-1650
6500
-366
23750
Evening Outlook:
Commodities initially look to give some bounce back on back of short covering, but bias for counters will remain negative as
there are no major triggers which may support commodity prices to sustain at higher levels.
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE
MCX Aluminum
Aluminum Oct future contract on MCX initially may give some
bounce back towards 105 which can be used as good selling
opportunity. The metal holding its strength below 9 DSMA on
daily chart is indicating weakness in prices. Additionally the 9
& 27 DSMA is about to give crossover, which is giving
confirmation of further weakness in prices. Immediate support
is at 103.5 and sustained breach below the same may take
prices towards 102.5 levels. So, sell on rise should be the
strategy but our view will negate if it trades above 106.
Support:
103.50-102.50
Resistance:
105-106
Trend:
Sideways to Down
MCX Natural Gas
Natural gas Oct future contract on MCX is trading in
sideways range since morning, but bias for the counter
look to remain positive till it holds above 189 as it is strong
support for the day. The counter consistently sustaining
above the 9 DSMA on daily chart is signifying further
strength in prices. First resistance for natural gas is at 196
and sustained breach above the same will take prices
towards 199 levels. So, buy in dip should be the strategy,
but our view will negate if it trades below 189.
Support:
189-187
Resistance:
196-199
Trend:
Sideways to Up
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com
October 22, 2012

COMMODITIES EVENING NOTE
Evening Swing levels
October 22, 2012
Commodity
Gold
Gold M
Gold $
Silver
Silver $
Silver M
Crude oil
Crude oil $
Natural gas
Natural gas $
Copper
Copper $
Zinc
Lead
Nickel
Aluminum
Exchange Expiry
MCX
MCX
COMEX
MCX
COMEX
MCX
MCX
NYMEX
MCX
NYMEX
MCX
COMEX
MCX
MCX
MCX
MCX
Dec
Nov
Dec
Dec
Dec
Nov
Nov
Dec
Oct
Nov
Nov
Dec
Oct
Oct
Oct
Oct
Close
31049
30870
1725.8
59523
32.205
59544
4894
91.04
193.90
3.60
432.00
3.64
99.35
112.35
898.60
104.15
Trend**
S3
S2
PRECIOUS METALS
30732
30562
1717.87
58729
31.88
58751
30858
30689
1720.13
59054
32.00
59076
4855
90.06
190.97
3.57
429.20
3.61
98.02
110.82
884.40
103.08
S1
30954
30779
1722.97
59288
32.10
59310
4874
90.55
192.43
3.59
430.60
3.63
98.68
111.58
891.50
103.62
Pivot
31080
30906
1725.23
59613
32.22
59635
4891
90.87
193.97
3.61
432.70
3.64
99.57
112.62
902.60
104.48
R1
31176
30996
1728.07
59847
32.32
59869
4910
91.36
195.43
3.62
434.10
3.65
100.23
113.38
909.70
105.02
R2
31302
31123
1730.33
60172
32.44
60194
4927
91.68
196.97
3.64
436.20
3.67
101.12
114.42
920.80
105.88
R3
31398
31213
1733.17
60406
32.54
60428
4946
92.17
198.43
3.66
437.60
3.68
101.78
115.18
927.90
106.42
ENERGIES
4838
89.74
189.43
3.55
427.10
3.60
97.13
109.78
873.30
102.22
BASE METALS
Data’s are as per 4pm close
Data sources can & do produce bad ticks. Verify before use.
* * Trend is just a market indicator as per the previous close and is not an indication to “buy” or” sell”.
Disclaimer
Source: Reuters
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Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com