GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 24 APR 2019

Mcx2-1

Precious Metals Preview: Gold Falls Near One Month Low, US Stocks Edge Up To Record High.
COMEX Gold stayed slippery yesterday as a modest recovery in global stocks weighed on the metal. A generous spurt in Bitcoin values and firm US dollar also led to a correction in the yellow metal. The Bitcoin futures are up 5% at 5600 per US dollar as a recent recovery extended. This hurt Gold. US stocks also edged past their all-time highs on Tuesday, as stocks continued to rally from their December lows. COMEX Gold futures are lingering near four month low of $1271 per ounce, down 0.16% on the day. MCX Gold futures closed at Rs 31560 per 10 grams, down marginally on the day.

Energy Preview: Crude Down Half Percent In Asian Trades.
Crude oil prices jumped 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. Prices eased in Asia today though and the WTI Crude is down half a percent at $66 per barrel.

Base Metals Preview: Copper Tests Three Week Low On COMEX.
COMEX Copper futures tested near three week low amid sustained selling pressure but losses were curbed on steady equities. The counter currently trades at $2.88 per pound, down 0.17% on the day. MCX Copper closed at Rs 446.30 per kg as slide under Rs 450 mark extedned. Firm US dollar is hurting the red metal. Broad global economic growth worries also stay in place. International Monetary Fund on Tuesday downgraded the economic outlook for 2019 indicating a slowing global economy and urging leaders to be careful in what it called a delicate moment. The updated forecast calls for 3.3% growth this year — down from 3.5% in January. The IMF added that it expects the economy to expand by 3.6% in 2020. Higher trade policy uncertainty and concerns of escalation and retaliation would reduce business investment, disrupt supply chains, and slow productivity growth, says the fund.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : BEARISH
RESIST 2: 31700
RESIST 1: 31600
SUP 1: 31500
SUP 2: 31300

CS SILVER (MAY) OVERVIEW:
TREND : BEARISH
RESIST 2: 37700
RESIST 1: 37300
SUP 1: 36700
SUP 2: 36400

BASE METALS
CS COPPER (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 451.00
RESIST 1: 449.00
SUP 1: 444.00
SUP 2: 440.00

CS NICKEL (APR) OVERVIEW:
TREND : BEARISH
RESIST 2: 886.00
RESIST 1: 874.00
SUP 1: 856.00
SUP 2: 850.00

CS ZINC (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 228.00
RESIST 1: 226.00
SUP 1: 222.00
SUP 2: 220.00

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: 151.00
SUP 1: 150.00
SUP 2: 149.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 4700
RESIST 1:4650
SUP 1: 4600
SUP 2: 4550

CS NATURAL GAS (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 179.00
RESIST 1: 175.00
SUP 1: 170.00
SUP 2: 168.00

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