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CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 26 APR 2019

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Precious Metals Preview: MCX Gold Hits Highs Above Rs 32K Level.
Gold edged up as major central banks turned defensive in their approaches and provided good bargain buying support for the metal. COMEX Gold recovered further from a four month low and currently trades at $1282 per ounce, up 0.18% on the day. MCX Gold futures were further supported by frail Indian Rupee and hit a high of Rs 32025 per 10 grams before ending up 0.37% at Rs 31935 per 10 grams.

Energy Preview: Crude Eases In Asia.
Crude oil eased a little on mixed cues from Asian equities as profit selling took toll on the commodity. Brent Crude oil futures soared above $75 per barrel yesterday and currently trade at $74.16 per barrel, down 0.51% on the day. MCX Crude oil futures closed at Rs 4641 per barrel, up 0.26% on the day. Meanwhile, India’s Crude oil production during March, 2019 was 2854.32 TMT which is 12.99 % lower than target and 6.16% lower when compared with March, 2018. Cumulative crude oil production during April-March, 2018-19 was 34203.27 TMT which is 7.59% and 4.15% lower than the cumulative target and production respectively during the corresponding period of last year.

Energy Preview: Copper Likely To Stay Slippery On Dollar Strength.
Copper futures tested three week low of $2.85 per pound as a firm undertone in US dollar weighed on the red metal. The commodity had recently hit a nine month top and is currently hovering around three week low of $2.87 per pound, up 0.45% on the day. However, major gains are unlikely as the US dollar index is lingering at around 2 year high. MCX Copper futures closed at Rs 444.80 per kg, down 1.37% on the day as a slide under Rs 450 level triggered hefty selling pressure.

PRECIOUS METALS
CS GOLD (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 32200
RESIST 1: 32000
SUP 1: 31700
SUP 2: 31600

CS SILVER (MAY) OVERVIEW:
TREND : BULLISH
RESIST 2: 37900
RESIST 1: 37700
SUP 1: 37200
SUP 2: 37000

BASE METALS
CS COPPER (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 453.00
RESIST 1: 448.00
SUP 1: 442.00
SUP 2: 439.00

CS NICKEL (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 870.00
RESIST 1: 866.00
SUP 1: 860.00
SUP 2: 857.00

CS ZINC (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 235.00
RESIST 1: 233.00
SUP 1: 228.00
SUP 2: 225.00

CS LEAD (APR) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 137.00
RESIST 1: 136.00
SUP 1: 134.00
SUP 2: 133.00

CS ALUMINIUM (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 155.00
RESIST 1: 154.00
SUP 1: 152.00
SUP 2: 151.00

ENERGY
CS CRUDE OIL (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4700
RESIST 1:4670
SUP 1: 4610
SUP 2: 4590

CS NATURAL GAS (MAY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 180.00
RESIST 1: 178.00
SUP 1: 172.00
SUP 2: 169.00

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