GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET LEVELS – 6 FEB 2019

Commodities-Market-1

Gold Sees Flat Moves
COMEX Gold saw some selling pressure after hitting near eight month highs. US stock markets extended winning spree though, the global equity investors remained concerned about growth in China, capping downside in the yellow metal. COMEX Gold futures currently trade at $1318 per ounce, flat on the day. MCX Gold futures closed at Rs 33367 per 10 grams, down 0.30% on the day. Local investors also eyed the Indian Rupee yesterday as it snapped 2-day losing streak. INR ended up 23 paise against US dollar as local stocks stayed supported.

Copper Hits Two Month High
COMEX Copper futures rose further on supportive US equities yesterday though the economic cues stayed weak. The red metal currently trades at $2.82 per pound, up 0.18% on the day. These are the two month high levels for the red metal. MCX Copper futures ended at Rs 446 per kg, extending their gains above Rs 440 per kg levels. On the economic front, the ISM said its US non-manufacturing index fell to 56.7 in January from an upwardly revised 58 in December, although a reading above 50 still indicates growth in the service sector. Eurozone retail sales decreased at the fastest pace in over seven-and-a-half years in December, preliminary data from Eurostat showed.

Crude Off Two Month Top
WTI Crude stayed slipper after hitting two month highs as profit selling emerged. The commodity trades down marginally at $53.63 per barrel after paring around 1% yesterday. Prices are hovering near their lowest in a week as investors focus on concerns about global energy demand against the production disruption in Venezuela. MCX Crude ended at Rs 3845 per barrel yesterday and should ease in early moves on these cues. Indian Rupee would also be a major factor. Crude earlier soared to two-month highs, bolstered by OPEC-led supply cuts and US sanctions against Venezuela’s petroleum industry.

Precious Metals
CS GOLD (APR) OVERVIEW:
TREND : BULLISH
RESIST 2: 33700
RESIST 1: 33500
SUP 1: 33100
SUP 2: 32900

CS SILVER (MAR) OVERVIEW:
TREND : BULLISH
RESIST 2: 40900
RESIST 1: 40600
SUP 1: 40300
SUP 2: 40000

Base Metals
CS COPPER (FEB) OVERVIEW:
TREND : BULLISH
RESIST 2: 450.00
RESIST 1: 448.00
SUP 1: 444.00
SUP 2: 442.00

CS NICKEL (FEB) OVERVIEW:
TREND : BULLISH
RESIST 2: 965.00
RESIST 1: 950.00
SUP 1: 920.00
SUP 2: 905.00

CS ZINC (FEB) OVERVIEW:
TREND : BULISH
RESIST 2: 206.00
RESIST 1: 202.00
SUP 1: 195.00
SUP 2: 191.00

CS LEAD (FEB) OVERVIEW:
TREND : BULLISH
RESIST 2: 155.00
RESIST 1: 153.00
SUP 1: 150.00
SUP 2: 148.00

CS ALUMINIUM (FEB) OVERVIEW:
TREND : BULLISH
RESIST 2: 140.00
RESIST 1: 139.00
SUP 1: 137.00
SUP 2: 136.00

Energy
CS CRUDE OIL (FEB) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4020
RESIST 1:3930
SUP 1: 3800
SUP 2: 3750

CS NATURAL GAS (FEB) OVERVIEW:
TREND : BEARISH
RESIST 2: 196.00
RESIST 1: 194.00
SUP 1: 190.00
SUP 2: 188.00

CapitalStars Provides Free Trial To Our Client

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM