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CAPITALSTARS – MCX COMMODITY MARKET NEWS & LEVELS – 05 NOV 2019

Mcx2-1

Silver COT Longs Hit Six Week High.

Large precious metals speculators added to their bullish net positions in the Silver 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 Silver futures, traded by large speculators and hedge funds, totaled a net position of 53,678 contracts in the data reported through Tuesday October 29th. This was a weekly gain of 6,935 net contracts. Silver speculators raised their bullish bets for the second straight week to the highest level of the past six weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -68,045 contracts on the week. This was a weekly uptick of 3,978 contracts.

Copper Speculators Cut Shorts For Third Week In Row.

Large base metals speculators cut back on their bearish net positions in the Copper futures markets this 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 -25,225 contracts in the data reported through Tuesday October 29th. This was a weekly change of 16,348 net contracts. The copper speculators decreased their bearish bets for a third straight week. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 24,094 contracts on the week. This was a weekly drop of -16,746 contracts.

Crude Oil Jumps 3% On MCX.

WTI Crude oil futures surged to four week high amid continued bullishness in global equities. Traders are eyeing a boost in trade optimism, after US President Donald Trump said on Friday he could sign a deal with China by the end of the month and. US stocks hit record highs on Friday and WTI Crude continued to race higher as well. The counter soared to a one month high above $57 per barrel before easing a bit and currently trades at $56.50 per barrel, down marginally on the day. MCX Crude oil futures closed at Rs 4060 per barrel, up 3% on the day as a break above Rs 4000 per barrel mark bolstered the sentiments.

Precious Metals

CS GOLD (DEC) OVERVIEW:
TREND :SIDEWAYS
RESIST 2: 38620
RESIST 1: 38540
SUP 1:38360
SUP 2: 38260

CS SILVER (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:47140
RESIST1:46880
SUP 1: 46370
SUP 2: 46130

Base Metals

CS COPPER (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:447
RESIST 1:443
SUP 1:440
SUP 2:436

CS NICKEL (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2:1203
RESIST 1: 1188
SUP 1:1158
SUP 2:1143

CS ZINC (NOV) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 192
RESIST 1:191
SUP 1:189
SUP 2: 188

CS LEAD (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:158
RESIST 1: 157
SUP 1: 155
SUP 2: 154

CS ALUMINIUM (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:135
RESIST 1: 134
SUP 1: 132
SUP 2: 131

Energy

CS CRUDE OIL (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:4140
RESIST 1:4090
SUP 1: 3980
SUP 2: 3900

CS NATURAL GAS (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2:202
RESIST 1:201
SUP 1: 199
SUP 2: 198

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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