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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 19 July 2019

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Energy Preview: WTI Crude Rebounds From One Month Low

WTI Crude oil fell near one month low yesterday before recovering and currently trades up 1.60% at $56.19 per barrel in Asia. Prices slipped this week on corrective selling. 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.

Base Metals Preview: Copper Soars To Two And Half Month High

COMEX Copper futures soared to two and half month high on weak US dollar and excellent buying support. Equities jumped in Asia and the red metal quotes at $2.76 per pound, up 1.50% on the day. Asian demand trends are seen firm. Developing Asia will maintain strong but moderating growth over 2019 and 2020, as supportive domestic demand counteracts an environment of global trade tensions, according to a new Asian Development Bank (ADB) report. ADB maintains growth forecasts for developing Asia at 5.7% in 2019 and 5.6% in 2020.

Precious Metals Preview: Gold Soars To Fresh Six Year High Near $1450 Level

COMEX Gold hit a fresh six-year high on Thursday as dovish comments from Federal Reserve official and increasing tensions in the Middle East boosted the metal. Volatile undertone in equities also pushed up the metal after its recent rebound above $1400 per ounce. New York Fed President John Williams indicated the possibility of an interest-rate cut at the Federal Reserve’s policy meeting later this month.

Precious Metal

CS GOLD (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 35450
RESIST 1: 35500
SUP 1: 35200
SUP 2: 35100

CS SILVER (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 41600
RESIST 1: 41400
SUP 1: 41000
SUP 2: 40800

Base Metals
CS COPPER (JUL) OVERVIEW:
TREND : BULLISH
RESIST 2: 462.00
RESIST 1: 459.00
SUP 1: 451.00
SUP 2: 447.00

CS NICKEL (JUL) OVERVIEW:
TREND : BULLISH
RESIST 2: 1055.00
RESIST 1: 1045.00
SUP 1: 1028.00
SUP 2: 1020.00

CS ZINC (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 196.00
RESIST 1: 195.00
SUP 1: 193.00
SUP 2: 192.00

CS LEAD (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 159.00
RESIST 1: 158.00
SUP 1: 156.00
SUP 2: 155.00

CS ALUMINIUM (JUL) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 145.00
RESIST 1: 144.00
SUP 1: 142.00
SUP 2: 141.00

Energy
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 3990
RESIST 1:3930
SUP 1: 3820
SUP 2: 3780

CS NATURAL GAS (JUL) OVERVIEW:
TREND : BEARISH
RESIST 2: 160.00
RESIST 1: 159.00
SUP 1: 157.00
SUP 2: 155.00

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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