GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 23 APR 2019

images (6)

Precious Metals Preview: Gold Speculative Longs Near Five Month Low.
Large precious metals speculators sharply decreased their bullish net positions in the Gold 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 Gold futures, traded by large speculators and hedge funds, totaled a net position of 56,273 contracts in the data reported through Tuesday April 16th. This was a weekly drop of -49,091 net contracts. The net speculative position had risen for three out of the past four weeks before this sharp decline. The current standing is now at the lowest level of the past nineteen weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -78,430 contracts on the week. This was a weekly surge of 54,379 contracts.

Energy Preview: MCX Crude Spikes 3% As US Ends Iran Sanction Waivers.
Global Crude oil prices soared to six-month highs as the US announced it was calling an end to six-month waivers that had exempted countries from unilateral US sanctions on Iranian oil exports. The Trump administration and our allies are determined to sustain and expand the maximum economic pressure campaign against Iran to end the regime’s destabilizing activity threatening the United States, our partners and allies and security in the Middle East, the White House noted. Oil has been rallying recently as rising risk appetite following strong Chinese data and hopes of a trade deal between the US and China boosted the commodity. WTI Crude oil futures are currently trading at $65.88 per barrel, up 0.50% on the day. MCX Crude oil futures closed at Rs 4596 per barrel, up 3.12% on the day after hitting a high of Rs 4613 per barrel.

Base Metals Preview: Copper Speculative Longs See Marginal Gain.
Large base metals speculators added to their bullish net positions in the Copper futures markets last week after a slide of late, 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 5,312 contracts in the data reported through Tuesday April 16th. This was a weekly increase of 2,298 net contracts.The net speculative position had fallen in four out of the previous five weeks before this slight gain. The current standing remains in bullish territory for a tenth straight week. Meanwhile, the commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -9,830 contracts on the week. This was a weekly drop of -1,387 contracts.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 31900
RESIST 1: 31700
SUP 1: 31500
SUP 2: 31400

CS SILVER (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 37700
RESIST 1: 37500
SUP 1: 37300
SUP 2: 37100

BASE METALS
CS COPPER (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 453.00
RESIST 1: 450.00
SUP 1: 444.00
SUP 2: 442.00

CS NICKEL (APR) OVERVIEW:
TREND : BEARISH
RESIST 2: 891.00
RESIST 1: 883.00
SUP 1: 868.00
SUP 2: 860.00

CS ZINC (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 229.00
RESIST 1: 227.00
SUP 1: 225.00
SUP 2: 224.00

CS LEAD (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 136.00
RESIST 1: 135.00
SUP 1: 133.00
SUP 2: 132.00

CS ALUMINIUM (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 152.00
RESIST 1: 150.00
SUP 1: 148.00
SUP 2: 147.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 4700
RESIST 1:4650
SUP 1: 4500
SUP 2: 4420

CS NATURAL GAS (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 178.00
RESIST 1: 177.00
SUP 1: 174.00
SUP 2: 173.00

CapitalStars Provides  Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future cperformance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM