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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 16 May 2019

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Base Metals Preview: Copper Muted On Lax Economic Data From US And China.
COMEX Copper edged up from three and half month lows this week but poor economic data is capping the upside for the metal. The commodity currently trades at $2.74 per pound, down 0.18% on the day. MCX Copper futures closed at Rs 428.90 per kg, up 0.60% on the day. The Fed said industrial production fell by 0.5% in April following a revised 0.2% uptick in March. Reflecting a sharp pullback in auto sales, the US Commerce Department released a report on Wednesday showing a drop in US retail sales in the month of April.The Commerce Department said retail sales slipped by 0.2% in April after rising by an upwardly revised 1.7% in March. China’s industrial production grew 5.4% year-on-year in April, following March’s 8.5% increase, figures from the National Bureau of Statistics showed Wednesday. The annual growth in retail sales eased to 7.2% from 8.7% a month ago. Another piece of data showed that fixed asset investment climbed 6.1% during January to April period compared to the 6.3% growth in January to March period.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : BULLISH
RESIST 2: 32600
RESIST 1: 32400
SUP 1: 32100
SUP 2: 32000

CS SILVER (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 37800
RESIST 1: 37600
SUP 1: 37400
SUP 2: 37200

BASE METALS
CS COPPER (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 432.00
RESIST 1: 430.00
SUP 1: 426.00
SUP 2: 423.00

CS NICKEL (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 870.00
RESIST 1: 863.00
SUP 1: 845.00
SUP 2: 834.00

CS ZINC (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 220.00
RESIST 1: 218.00
SUP 1: 214.00
SUP 2: 212.00

CS LEAD (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 129.00
RESIST 1: 128.00
SUP 1: 126.00
SUP 2: 125.00

CS ALUMINIUM (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 152.00
RESIST 1: 151.00
SUP 1: 149.00
SUP 2: 148.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4440
RESIST 1:4400
SUP 1: 4300
SUP 2: 4250

CS NATURAL GAS (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 190.00
RESIST 1: 187.00
SUP 1: 182.00
SUP 2: 180.00

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