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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 11 July 2019

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Base Metals Preview: Copper Breaks Above Rs 440 Per Kg On MCX 

MCX Copper jumped sharply yesterday as COMEX Copper soared from a three week low. The major US equity indices hit record intraday highs after the US Federal Reserve Chairman Jerome Powell’s prepared remarks before the House Financial Services Committee.

Energy Preview: WTI Crude Jumps Above $60 Per Barrel

WTI Crude oil futures soared sharply as prices extended upmove on US crude inventories and worries over production in the US Gulf of Mexico ahead of a potential tropical storm. Rising US equities amid tepid talks on interest rates by US Fed Chair Jerome Powell also supported sentiments. WTI Crude currently trades at $60.69 per barrel, up 0.43% on the day. The break above $60 level is expected to keep prices well supported. MCX Crude oil futures ended up 371% at Rs 4114 per barrel amid a highly bullish session.

Precious Metals Preview: Gold Hits One Week High On Fed Outlook

Gold jumped sharply as dovish set of comments from the Federal Reserve Chairman Jerome Powell pushed up commodities. Powell said that the US economy is suffering from a bout of uncertainty caused by trade tension and slower global growth and he pledged again that the central bank would act as needed to support demand. Since the Fed meeting in mid-June, based on incoming data and other developments.

Precious Metal
CS GOLD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 35200
RESIST 1: 35000
SUP 1: 34500
SUP 2: 34200

CS SILVER (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 38700
RESIST 1: 38500
SUP 1: 38100
SUP 2: 37800

Base Metals
CS COPPER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 450.00
RESIST 1: 446.00
SUP 1: 436.00
SUP 2: 430.00

CS NICKEL (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 930.00
RESIST 1: 922.00
SUP 1: 906.00
SUP 2: 897.00

CS ZINC (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 195.00
RESIST 1: 193.00
SUP 1: 191.00
SUP 2: 190.00

CS LEAD (JUL) OVERVIEW:
TREND : BULLISH
RESIST 2: 158.00
RESIST 1: 157.00
SUP 1: 156.00
SUP 2: 154.00

CS ALUMINIUM (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 146.00
RESIST 1: 145.00
SUP 1: 143.00
SUP 2: 142.00

Energy
CS CRUDE OIL (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4200
RESIST 1:4150
SUP 1: 4050
SUP 2: 3980

CS NATURAL GAS (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 172.00
RESIST 1: 170.00
SUP 1: 165.00
SUP 2: 163.00

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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