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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 14 JUNE 2019

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Precious Metals Preview: Gold Jumps Near $1350 Level, Hits Four Month Top
COMEX Gold jumped to fresh four month top 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 $1348.65 per ounce, up 0.37% on the day. MCX Gold futures ended up 0.60% at Rs 32960 per 10 grams in last session.

Energy Preview: Crude Jumps On Supply Disruptions, MCX Futures Test Above Rs 3700 Level
Energy Preview: Crude Jumps On Supply Disruptions, MCX Futures Test Above Rs 3700 Level June 14,2019 09:51 WTI Crude oil futures soared sharply yesterday as worries about disruption to supplies from the Middle East supported the commodity. Plenty of bargain buying also emerged after prices tested five month low yesterday. WTI Crude soared around 4.5% in intraday moves before easing in the US session. The counter currently trades at $52.48 per barrel. Supportive mood in global equities, which rose on ideas that China will come up with continued measures to prop up economy, also boosted the sentiments for oil. Media reports noted that two tankers were attacked in the Gulf of Oman, immediately turning on bulls. Anything of this sort in that sensitive region tends to push prices up and today as no exception. The rally in global prices also boosted local futures with the MCX Crude oil jumping above Rs 3700 per barrel.

Base Metals Preview: Copper Sees Choppy Moves On Tepid Fund Buying.
COMEX Copper is trading in a thin range on lack of fund buying and mixed cues from equities in Asia. The red metal currently trades at $2.65 per pound, down 0.26% on the day. MCX Copper futures ended just above Rs 409 per kg amid choppy trades. Large base metals speculators yet again add to their bearish net positions in the Copper 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 Copper futures, traded by large speculators and hedge funds, totaled a net position of -26,746 contracts in the data reported through Tuesday June 4th. This was a weekly reduction of -2,913 net contracts. The net speculative positions accelerated for a seventh straight week. The standing of speculator positions has now been in an overall bearish level for six weeks and is currently at the most bearish position in last four months

Precious Metals
CS GOLD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 33100
RESIST 1: 33000
SUP 1: 32800
SUP 2: 32600

CS SILVER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 37400
RESIST 1: 37200
SUP 1: 36800
SUP 2: 36500

Base Metals
CS COPPER (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 412.00
RESIST 1: 410.00
SUP 1: 406.00
SUP 2: 403.00

CS NICKEL (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 893.00
RESIST 1: 880.00
SUP 1: 860.00
SUP 2: 852.00

CS ZINC (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 207.00
RESIST 1: 205.00
SUP 1: 203.00
SUP 2: 202.00

CS LEAD (JUN) OVERVIEW:
TREND : BULLISH
RESIST 2: 156.00
RESIST 1: 155.00
SUP 1: 153.00
SUP 2: 152.00

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: 3820
RESIST 1:3730
SUP 1: 3550
SUP 2: 3450

CS NATURAL GAS (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 167.00
RESIST 1: 165.00
SUP 1: 161.00
SUP 2: 160.00

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