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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 13 JUNE 2019

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Precious Metals Preview: COMEX Gold Holds Near Recent High On Tepid US Inflationary Data.
COMEX Gold stayed supported just under three and half month high on hopes of a rate cut from the US Fed on tepid inflationary reading. Broad worries over US-China trade spat lingered around. Media reports are indicating good demand in China though fun buying in global futures market is slightly thin after recent run up in the prices. The metal currently trades at $1338 per ounce, up marginally on the day after rising to a high of $1342 per ounce yesterday. MCX Gold futures ended up 0.34% at Rs 32740 per 10 grams in last session.

Energy Preview: Crude Melts 3.50% On MCX.
Another bearish set of numbers from the US authorities pulled Crude oil prices to five month low. The US Energy Information Administration said US crude oil inventories rose by 2.21 million barrels in the week ending June 7, to take the overall supply tally to 485.47 million barrels, the highest in nearly two years. U.S. crude oil inventories were about 8% above the five-year average for this time of year. According to the EIA, total motor gasoline inventories increased by 0.8 million barrels last week and are about 2% above the five year average for this time of year. Distillate fuel inventories decreased by 1.0 million barrels last week and were about 4% below the five-year average for this time of year. WTI Crude currently quotes at $51 per barrel, down 0.27% on the day. MCX Crude oil futures ended down 3.50% at Rs 3591 per barrel following the massive tumble in global prices and should slide further today.

Base Metals Preview: Copper Tumbles As Equities Ease.
COMEX Copper futures tumbled after recent gains as profit selling hurt the sentiments. Equities eased around the globe as trade concerns and lingering worries about slowing global growth pulled buying interest. Trade tensions intensified after US President Donald Trump said that he was holding up a trade deal with China. This led to a sizable drop in Asian shares with stocks in Hong Kong crashing around 2% and Chinese shares falling 0.56%. Major European indices also witnessed steep losses and DOW also ended its six day winning spree. This has pulled off COMEX Copper too and the metal currently trades down 0.20% at $2.64 per pound. MCX Copper futures ended down 0.73% at Rs 407.20 per kg.

Precious Metals
CS GOLD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 32900
RESIST 1: 32800
SUP 1: 32600
SUP 2: 32500

CS SILVER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 37000
RESIST 1: 36900
SUP 1: 36600
SUP 2: 36500

Base Metals
CS COPPER (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 412.00
RESIST 1: 410.00
SUP 1: 405.00
SUP 2: 403.00

CS NICKEL (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 875.00
RESIST 1: 870.00
SUP 1: 860.00
SUP 2: 855.00

CS ZINC (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 209.00
RESIST 1: 207.00
SUP 1: 205.00
SUP 2: 204.00

CS LEAD (JUN) OVERVIEW:
TREND : BULLISH
RESIST 2: 156.00
RESIST 1: 155.00
SUP 1: 154.00
SUP 2: 153.00

CS ALUMINIUM (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 144.00
RESIST 1: 143.00
SUP 1: 142.00
SUP 2: 141.00

Energy
CS CRUDE OIL (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 3730
RESIST 1:3670
SUP 1: 3550
SUP 2: 3500

CS NATURAL GAS (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 168.00
RESIST 1: 167.00
SUP 1: 165.00
SUP 2: 163.00

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