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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 14 AUGUST 2019

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Precious Metals Preview: Silver Speculative Longs Fall After Rising Spree.
Large precious metals speculators reduced their bullish net positions in the Silver futures markets last week following three weeks of surging bullish sentiment, 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 49,832 contracts in the data reported through Tuesday August 6th. This was a weekly drop of -14,465 net contracts. The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -75,266 contracts on the week. This was a weekly gain of 8,650 contracts.

Base Metals Preview: Copper Off Two Week High In Asia.
COMEX Copper soared to two week high of $2.64 per pound as the US-China trade concerns alleviated a little but slipped today as continued economic worries hurt the sentiments. Germany’s investor confidence dropped sharply in August to its lowest level since the end of 2011, survey data from the ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment for Germany tumbled to -44.1 from -24.5 in July. Japanese machine tool orders continued to fall at a sharp rate in July. Machine tool orders fell 33% year-on-year in July after a 37.9% tumble in June. Japan’s tertiary industry activity also fell for the first time in three months in June. The tertiary industry activity index edged down 0.1% month-on-month in June.

Energy Preview: Crude Oil Speculative Longs Drop.
Large energy speculators trimmed their bullish net positions in the WTI Crude Oil futures markets last week, 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 WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 375,641 contracts in the data reported through Tuesday August 6th. This was a weekly drop of -11,650 net contracts from the previous week which had a total of 387,291 net contracts. The commercial traders’ position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -374,089 contracts on the week. This was a weekly gain of 12,978 contracts.

PRECIOUS METALS
CS GOLD (OCT) OVERVIEW:
TREND : BULLISH
RESIST 2: 38300
RESIST 1: 38000
SUP 1: 37500
SUP 2: 37200

CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 43800
RESIST 1: 43400
SUP 1: 42900
SUP 2: 42500

BASE METALS
CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 457.00
RESIST 1: 453.00
SUP 1: 445.00
SUP 2: 441.00

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: 190.00
RESIST 1: 188.00
SUP 1: 186.00
SUP 2: 185.00

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: 143.00
RESIST 1: 142.00
SUP 1: 139.00
SUP 2: 138.00

ENERGY
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 4080
RESIST 1:4040
SUP 1: 3970
SUP 2: 3940

CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 155.00
RESIST 1: 154.00
SUP 1: 152.00
SUP 2: 151.00

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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