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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 13 AUGUST 2019

Mcx2-1

Precious Metals Preview: Gold Approaches $1530 Per Ounce In Asia.
COMEX Gold jumped to fresh seven year highs amid continued jitters on global trade and broad economic worries. The economic outlook has deteriorated worldwide as the trade dispute between the United States and China escalates, a survey showed on Monday. Germany’s Ifo economic institute said its quarterly survey among nearly 1,200 experts in more than 110 countries showed that its measures for current conditions and economic expectations have both worsened in the third quarter.

Base Metals Preview: Copper Flat, MCX Futures End Around Rs 445 Level.
COMEX Copper futures yet again edged up near one week high of $2.61 per pound before easing a little. The sentiments in global markets remain tepid after the US President Donald Trump downplayed the scheduled September meeting with China and China’s central bank set the official midpoint reference for the yuan at a stronger-than-expected level. Italian bond yields also slipped from five-week highs, easing some concerns regarding the country’s financial health. However, risk appetite went for a toss in the US session as the DOW tumbled around 1.5%. COMEX Copper holds at $2.58 per pound, flat on the day. MCX Copper futures ended at Rs 445 per kg, almost unchanged on the day in last session amid these cues

Energy Preview: Crude To See Corrective Pressure.
Crude oil futures continue to see selling pressure on demand worries. Broad concerns over the health of the global economy, marked by the US-China trade dispute, forced the International Energy Agency (IEA) to cut lower its growth forecast for global crude oil demand for this year and next. There have been concerns about the health of the global economy expressed in recent editions of this report and shown by reduced expectations for oil demand growth, the agency said in a monthly update.

PRECIOUS METALS
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 38900
RESIST 1: 38600
SUP 1: 38100
SUP 2: 37800

CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 44800
RESIST 1: 44400
SUP 1: 43700
SUP 2: 43400

BASE METALS
CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 452.00
RESIST 1: 448.00
SUP 1: 440.00
SUP 2: 436.00

CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 1140.00
RESIST 1: 1130.00
SUP 1: 1110.00
SUP 2: 1100.00

CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 187.00
RESIST 1: 186.00
SUP 1: 184.00
SUP 2: 183.00

CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 156.00
RESIST 1: 155.00
SUP 1: 153.00
SUP 2: 151.00

CS ALUMINIUM (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 142.00
RESIST 1: 141.00
SUP 1: 139.00
SUP 2: 138.00

ENERGY
CS CRUDE OIL (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 3980
RESIST 1:3940
SUP 1: 3860
SUP 2: 3810

CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 153.00
RESIST 1: 152.00
SUP 1: 150.00
SUP 2: 148.00

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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