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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 12 FEB 2019

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Energy Preview: Crude Oil Speculative Longs Fall To Lowest Level In More Than Two Years.
Large energy speculators trimmed their bullish net positions in the WTI Crude Oil futures markets in early January, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 277,211 contracts in the data reported through Tuesday January 8th. This was a weekly fall of -21,502 net contracts from the previous week which had a total of 298,713 net contracts.

Base Metals Preview: Copper Speculators Add To Bearish Positions.
Large precious metals speculators once again cut their bearish net positions in the Copper futures markets into the New Year, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of -19,452 contracts in the data reported through Tuesday January 8th. This was a weekly drop of -9,104 net contracts.

Precious Metals Preview: COMEX Gold Sees Flat Moves.
COMEX Gold futures eased as the recent highs continued to act as a stiff resistance. The US dollar index rose further, hitting two and half month highs of 96.70 and weighed on commodity prices. Meanwhile, the global equities also stayed cautious amid continued concerns over the US-China trade talks. Europe’s stock markets saw modest buying after last week’s sharp losses. Shanghai stocks reopened positively after a weeklong break, hitting three month high. COMEX Gold mostly pulled back amid these cues and currently trade at $1311 per ounce, flat on the day. MCX Gold futures closed at Rs 33046 per 10 grams, down 0.60% on the day.

PRECIOUS METALS
CS GOLD (APR) OVERVIEW:
TREND : BEARISH
RESIST 2: 33600
RESIST 1: 33400
SUP 1: 32900
SUP 2: 32700

CS SILVER (MAR) OVERVIEW:
TREND : BEARISH
RESIST 2: 40200
RESIST 1: 40000
SUP 1: 39700
SUP 2: 39500

BASE METALS 
CS COPPER (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 444.00
RESIST 1: 441.00
SUP 1: 437.00
SUP 2: 434.00

CS NICKEL (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 909.00
RESIST 1: 897.00
SUP 1: 877.00
SUP 2: 869.00

CS ZINC (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 192.00
RESIST 1: 190.00
SUP 1: 187.00
SUP 2: 185.00

CS LEAD (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 148.00
RESIST 1: 146.00
SUP 1: 144.00
SUP 2: 142.00

CS ALUMINIUM (FEB) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 135.00
RESIST 1: 134.00
SUP 1: 132.00
SUP 2: 131.00

ENERGY 
CS CRUDE OIL (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 3810
RESIST 1:3770
SUP 1: 3660
SUP 2: 3600

CS NATURAL GAS (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 200.00
RESIST 1: 196.00
SUP 1: 185.00
SUP 2: 181.00

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