GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS MCX COMMODITY MARKET NEWS & LEVELS – 15 FEB 2018

Commodities-Market-1

Gold Prices Fall In Asia As Chinese New Year Holidays Start.

Gold dipped in Asia on Thursday as top buyer China started a market break through Feb. 21 to mark the Lunar New Year and physical trade dipped further with Hong Kong also shut and Singapore on holidays Friday and Monday. Overnight, gold prices rose sharply amid dollar weakness as data showing rising inflation and falling retail sales stoked stagflation fears as market participants questioned the underlying strength of inflation. Rising inflation and falling retail sales pointing to possible sluggishness in consumer spending, leading some market participants to slash their bullish expectations for first quarter economic growth as JPMorgan (NYSE:JPM) revised down its first quarter US GDP forecast to 2.5% from 3%.

Zinc prices gained as stronger than expected inflation in the United States spurred buying.

Zinc on MCX settled up 2.62% at 229.55 as stronger than expected inflation in the United States spurred buying. An environmental crackdown in China has hit supplies of metals and fuelled a price rally that shows no sign of losing steam any time soon. The Yangtze River delta region near Shanghai saw a key measure of smog concentrations rise by a fifth in January. Some regions of China could suffer heavy pollution because of fireworks and unfavorable weather conditions during Lunar New Year celebrations, despite a ban on firecrackers in more than 400 cities, the Ministry of Environmental Protection warned.

Copper prices rose as traders took up new positions in the metal before the ShFE closes for a national holiday.

Copper on MCX settled up 1.82% at 457.55 on fresh buying as support seen after Shanghai copper prices rose registering their biggest daily leap since October, as traders took up new positions in the metal before the Shanghai Futures Exchange closed for a national holiday. Market open interest on Shanghai copper hit 811,170 lots on Tuesday, the highest since January 2016, ahead of the Lunar New Year holiday in China beginning on Thursday. Traders were likely covering their short positions ahead of the week-long holiday, which could put them at some risk due to volatility in LME prices.

Oil extends gains on Saudi commitment to cut, weak dollar.

Oil prices on Thursday extended gains from the previous session, pushed up by a weak dollar and by comments from Saudi Arabia that it would rather see an undersupplied market than end a deal with OPEC and Russia to withhold production.Prices rose on the back of ongoing weakness in the U.S.-dollar against other leading currencies, further supported by rising stock markets, traders said. A weaker greenback potentially supports consumption of dollar-denominated commodities as it makes fuel and raw materials cheaper for countries using other currencies. “On commodity markets, everyone loves a lower U.S. dollar,” said Greg McKenna, chief market strategist at futures brokerage AxiTrader.

Precious Metals

CS GOLD (APR) OVERVIEW: 
TREND : BULLISH

RESIST 2: 31000

RESIST 1: 30900

SUP 1: 30400

SUP 2: 30300

CS SILVER (MAR) OVERVIEW: 
TREND : BULLISH

RESIST 2: 39500

RESIST 1: 39300

SUP 1: 38400

SUP 2: 38200

Base Metals

CS COPPER (FEB) OVERVIEW: 
TREND : BULLISH

RESIST 2: 465.00

RESIST 1: 463.00

SUP 1: 452.00

SUP 2: 450.00

CS NICKEL (FEB) OVERVIEW: 
TREND : BULLISH

RESIST 2: 925.00

RESIST 1: 920.00

SUP 1: 885.00

SUP 2: 880.00

CS ZINC (FEB) OVERVIEW: 
TREND : BULLISH

RESIST 2: 234.00

RESIST 1: 232.00

SUP 1: 225.00

SUP 2: 223.00

CS LEAD (FEB) OVERVIEW:

TREND : BULLISH

RESIST 2: 170.00

RESIST 1: 168.00

SUP 1: 164.00

SUP 2: 162.00

CS ALUMINIUM (FEB) OVERVIEW:

TREND : SIDEWAYS

RESIST 2: 143.00

RESIST 1: 142.00

SUP 1: 138.00

SUP 2: 137.00

Energies

CS CRUDE OIL (FEB) OVERVIEW: 
TREND : BULLISH

RESIST 2:3990

RESIST 1: 3950

SUP 1: 3830

SUP 2: 3790

CS NATURAL GAS (FEB) OVERVIEW: 
TREND : SIDEWAYS

RESIST 2: 175.00

RESIST 1: 172.00

SUP 1: 163.00

SUP 2: 160.00

Financial Advisory Company in IndoreStock Advisory Company in Indore , Equity Tips  Free Trading Tips  , MCX Tips , sebi registered advisory company , Intraday stock tips  , Capitalstars Video Gallery

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 performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Leave a Reply

Your email address will not be published. Required fields are marked *

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM