COMMODITIES EVENING NOTE
Commodity Overview
October 23, 2012
Gold edged lower after equities gave up early gains today, although demand from jewelers helped prices rebound
from their lowest in more than a month as investors waited on the results of a U.S. Federal Reserve meeting.
Crude oil prices were pressured by expectations that U.S. oil inventories likely rose for the third straight week as
imports recovered. But oil's downside was checked by supply outages and the potential for disruption.
Copper fell to fresh six-week lows as investors played safe ahead of a U.S. Federal Reserve policy meeting, while
awaiting China's next policy moves. Investors are expected to stick to safe plays until after the Fed's two-day meeting
which begins on Tuesday.
Economic Calendar:
Country
Time
Event
Period
Unit
Survey
Actual
Prior
LME Inventory:
Commodity
Change
EuroZone
-
-
-
-
Source :Reuters
19:30
-
-
-
-
Consumer
Confidence
-
-
-
-
Oct
-
-
-
-
-
-
-
-
-26.00
-
-
-
-
-
-
-
-
-
25.90
-
-
-
-
Copper
Zinc
Lead
Nickel
Aluminum
175
-1575
12375
804
-3375
Evening Outlook:
Commodities for the day look to trade sideways to down as investors remain cautious ahead of outcome of U.S. Federal
Reserve policy meeting and China's next policy moves.
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com

COMMODITIES EVENING NOTE
MCX Silver
Silver Dec contract on MCX initially may give some bounce
back on back of short covering, but bias will continue to
remain negative till it holds below 59650. The crossover of 9
DSMA and 100 DEMA is indicating further weakness in silver
prices. Immediate support for the counter is at 58900 whereas
strong support is at 58650 from where we can again see some
reversal. So, any upside in silver can be used as good selling
opportunity, sustained breach above 59650 will indicate that
uptrend may resume.
Support:
58900-58650
Resistance:
59650-59900
Trend:
Sideways to Down
MCX Lead
Lead Oct future contract on MCX is trading with negative
bias and is expected to continue the same later in the
evening. The metal broke the strong support level of
111.50 level and sustained below the same indicates that
some more downside can be seen. Furthermore the metal
prices holding its strength below 200 DEMA on daily chart
is giving confirmation of weakness. First support is at
108.50 and breach below may test 108 or below levels. So
sell on rise should be the strategy.
Support:
108-107.50
Resistance:
110-110.75
Trend:
Sideways to Down
Commodity Research, Motilal Oswal Commodities Broker Pvt. Ltd.
Email:
commodityresearch@motilaloswal.com
October 23, 2012

COMMODITIES EVENING NOTE
Evening Swing levels
October 23, 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
30934
30741
1713.7
59112
31.86
59141
4758
88.37
186.00
3.47
426.45
3.58
97.35
109.40
879.70
103.60
Trend**
S3
S2
PRECIOUS METALS
30751
30553
1696.20
58170
31.27
58306
30841
30643
1704.90
58590
31.56
58670
4733
87.79
183.40
3.43
422.22
3.55
96.05
108.07
865.57
102.33
S1
30887
30692
1709.30
58851
31.71
58906
4746
88.08
184.70
3.45
424.33
3.56
96.70
108.73
872.63
102.97
Pivot
30977
30782
1718.00
59271
32.00
59270
4765
88.50
185.80
3.46
427.12
3.59
97.65
109.82
882.07
103.58
R1
31023
30831
1722.40
59532
32.15
59506
4778
88.79
187.10
3.48
429.23
3.61
98.30
110.48
889.13
104.22
R2
31113
30921
1731.10
59952
32.44
59870
4797
89.21
188.20
3.49
432.02
3.64
99.25
111.57
898.57
104.83
R3
31159
30970
1735.50
60213
32.59
60106
4810
89.50
189.50
3.51
434.13
3.66
99.90
112.23
905.63
105.47
ENERGIES
4714
87.37
182.30
3.42
419.43
3.52
95.10
106.98
856.13
101.72
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