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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 20 AUGUST 2019

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Precious Metals Preview: Gold Eases Near $1500 Level On Soaring Equities.
COMEX Gold futures fell yesterday as rising risk appetite curbed the appeal for the commodity. Global equities edged up in quite trades on Monday. DOW surged 1% on the day as a recovery from two month low extended. Bond yields rose in euro zone after plummeting to record low. Traders focused on prospect of fiscal stimulus in Germany. People’s Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy. Gold eased near a one week low near $1500 per ounce amid these cues and currently trades at $1506 per ounce, down around 37% on the day. MCX Gold futures also ended down 0.38% at Rs 37800 per 10 grams as traders are factoring in the possibility of a near term contraction in demand.

Energy Preview: Crude Speculative Longs Gain For First Time In Four Weeks.
Large energy speculators lifted 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 382,144 contracts in the data reported through Tuesday August 13th. This was a weekly gain of 6,503 net contracts from the previous week. The large speculators had trimmed their bullish positions in the previous three weeks before this spurt. The commercial trader’s position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -371,534 contracts on the week. This was a weekly surge of 2,555 contracts.

Base Metals Preview: Copper Speculative Short Position Off Record.
Large metals speculators cut their bearish net positions in the Copper futures markets last week following a large gain in bearish positions 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 -53,600 contracts in the data reported through Tuesday August 13th. This was a weekly change of 4,849 net contracts. The decline in bearish bets followed a sharp spurt to a new record high bearish position last week at a total of -58,449 net contracts. Copper has now been in a bearish overall level for sixteen straight weeks. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 53,324 contracts on the week. This was a weekly decrease of -3,643 contracts.

PRECIOUS METALS
CS GOLD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 38400
RESIST 1: 38000
SUP 1: 37500
SUP 2: 37200

CS SILVER (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 44100
RESIST 1: 43700
SUP 1: 43000
SUP 2: 42600

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: 186.00
RESIST 1: 185.00
SUP 1: 182.00
SUP 2: 181.00

CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 157.00
RESIST 1: 156.00
SUP 1: 154.00
SUP 2: 152.00

CS ALUMINIUM (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 142.00
RESIST 1: 141.00
SUP 1: 139.00
SUP 2: 138.00

ENERGY
CS CRUDE OIL (SEP) OVERVIEW:
TREND : BULLISH
RESIST 2: 4100
RESIST 1:4060
SUP 1: 4000
SUP 2: 3960

CS NATURAL GAS (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 160.00
RESIST 1: 159.00
SUP 1: 157.00
SUP 2: 156.00

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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