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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 07 May 2019

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Energy Preview: Crude Marks Impressive Rebound On MCX.
The US session saw a decent rebound in crude oil. Crude oil futures slipped yesterday in Asian and European trades after a modest recovery in last session as profit selling took a toll on the sentiments. Equities remained in a corrective mode after renewed worries over US-China trade resurfaced and Brent Crude oil futures yet again got dragged towards $70 per barrel. The counter currently trades at $71.20 per barrel, down 0.15% on the day. MCX Crude oil futures edged up from lows under Rs 4200 per barrel and closed at Rs 4346 per barrel, up 0.91% on the day. The local futures saw a sharp gap down opening and fell near Rs 4190 per barrel in intraday moves, indicating hefty selling pressure. The global oil prices tested around one month low following a slide from recent six month top.

Base Metals Preview: Copper Speculators Turn Bearish For First Time In Three Months.
Large precious metals speculators trimmed their net positions in the Copper futures markets last week and pushed bets into a small bearish level, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of -133 contracts in the data reported through Tuesday April 30th. This was a weekly decrease of -2,259 net contracts.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 31800
RESIST 1: 31700
SUP 1: 31400
SUP 2: 31300

CS SILVER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 37600
RESIST 1: 37500
SUP 1: 37100
SUP 2: 36900

BASE METALS
CS COPPER (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 445.00
RESIST 1: 441.00
SUP 1: 432.00
SUP 2: 425.00

CS NICKEL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 855.00
RESIST 1: 848.00
SUP 1: 831.00
SUP 2: 824.00

CS ZINC (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 221.00
RESIST 1: 220.00
SUP 1: 218.00
SUP 2: 216.00

CS LEAD (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 134.00
RESIST 1: 132.00
SUP 1: 129.00
SUP 2: 127.00

CS ALUMINIUM (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 147.00
RESIST 1: 146.00
SUP 1: 143.00
SUP 2: 142.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 4470
RESIST 1:4410
SUP 1: 4240
SUP 2: 4130

CS NATURAL GAS (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 181.00
RESIST 1: 178.00
SUP 1: 174.00
SUP 2: 172.00

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