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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 11 FEB 2019

Commodities-Market-1

Base Metals Preview: Copper Corrects On Friday
COMEX Copper rose further last week, hitting fresh two month high even as equities remained choppy. The metal corrected on Friday though as US stocks ended marginally lower on lingering concerns about a potential trade deal between the US and China. The commodity closed at $2.81 per pound, down 0.55% on the day. MCX Copper closed at Rs 442.40 per kg, down 0.87% on the day.

Precious Metals Preview: Oil Looks Sideways
Crude oil eased after the US Energy Information Administration (EIA) downplayed the effect of Venezualan crisis on the broad oil markets. The EIA has noted that the US imports of Venezuelan crude oil have decreased in recent years as production in Venezuela declined.

Precious Metals Preview: Gold Well Supported, MCX Futures End Above Rs 32200 Level
COMEX Gold stayed supported after easing from eight month highs and ended just under $1320 per ounce. MCX Gold futures closed at Rs 33230 per 10 grams, up marginally . on the day. Gold has been witnessing steady buying as the prospects are looking attractive for the metal after it recently hit a eight month top.

PRECIOUS METALS
CS GOLD (APR) OVERVIEW:
TREND : BEARISH
RESIST 2: 33400
RESIST 1: 33300
SUP 1: 33100
SUP 2: 32900

CS SILVER (MAR) OVERVIEW:
TREND : BEARISH
RESIST 2: 40500
RESIST 1: 40300
SUP 1: 39800
SUP 2: 39500

BASE METALS
CS COPPER (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 448.00
RESIST 1: 445.00
SUP 1: 441.00
SUP 2: 439.00

CS NICKEL (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 931.00
RESIST 1: 913.00
SUP 1: 883.00
SUP 2: 870.00

CS ZINC (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 196.00
RESIST 1: 194.00
SUP 1: 191.00
SUP 2: 189.00

CS LEAD (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 150.00
RESIST 1: 149.00
SUP 1: 147.00
SUP 2: 146.00

CS ALUMINIUM (FEB) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 137.00
RESIST 1: 135.00
SUP 1: 133.00
SUP 2: 132.00

ENERGY
CS CRUDE OIL (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 3830
RESIST 1:3800
SUP 1: 3720
SUP 2: 3690

CS NATURAL GAS (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 188.00
RESIST 1: 186.00
SUP 1: 183.00
SUP 2: 181.00

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