GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY MARKET NEWS & LEVELS – 20 NOV 2019

capitalstars

COMEX Gold At Two Week High.

COMEX Gold futures continued to edged up on a recovery in Indian demand. Lack of clarity on the US-China trade front also supported the commodity. The metal currently trades at $1474 per ounce, unchanged on the day – lingering at a two week high. MCX Gold futures closed at Rs 37181 per 10 grams, down marginally on the day yesterday. Meanwhile, India’s Gold imports came in at Rs 13069 crore in October 2019, up 1.05% compared to October 2018. This modest recovery could cap the downside for the metal in near term. Silver imports tumbled though, giving up 81% over the year to Rs 679.51 crore in October 2019.

Copper Soars On China Demand Hopes.

COMEX Copper soared yesterday from four weeks low on bargain buying as traders hoped that continued credit support to the economy would push up Chinese copper demand. The COMEX Copper futures are currently trading flat at $2.65 per pound. MCX Copper futures ended at Rs 437.70 per kg, up 0.30% on the day. Domestic copper saw limited gains action as the Indian Rupee gained. INR ended at 71.71 against the US dollar today, adding 13 paise on the day. INR had slipped above 72 per dollar in intraday moves. A late rebound in local equities and weakness in crude oil supported the currency.

MCX Crude Tanks 2.40%.

WTI Crude oil futures tumbled yesterday, extending their downturn from a seven week high. Profit selling continued in the commodity amid continued lack of clarity in trade negotiations between the US and China. The WTI Crude oil futures fell nearly two dollars yesterday and are currently trading at $55.38 per barrel, up 0.05% on the day. MCX Crude oil futures ended at Rs 3979 per quintal, down 2.40% on the day after failing to hold on near Rs 4100 per barrel mark.

Precious Metals

CS GOLD (DEC) OVERVIEW:
TREND :BULLISH
RESIST 2: 38430
RESIST 1: 38320
SUP 1:38010
SUP 2: 37810

CS SILVER (DEC) OVERVIEW:
TREND :BULLISH
RESIST 2:45320
RESIST1:45100
SUP 1: 44500
SUP 2: 44140

Base Metals

CS COPPER (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2:443
RESIST 1:439
SUP 1:435
SUP 2:432

CS NICKEL (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2:1119
RESIST 1: 1104
SUP 1:1074
SUP 2:1059

CS ZINC (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 191
RESIST 1:190
SUP 1:188
SUP 2: 187

CS LEAD (NOV) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:156
RESIST 1: 155
SUP 1: 153
SUP 2: 152

CS ALUMINIUM (NOV) OVERVIEW:
TREND : SIDEWAYS
RESIST 2:133
RESIST 1: 132
SUP 1: 130
SUP 2: 129

Energy

CS CRUDE OIL (DEC) OVERVIEW:
TREND : BEARISH
RESIST 2:4150
RESIST 1:4070
SUP 1: 3940
SUP 2: 3890

CS NATURAL GAS (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2:183
RESIST 1:182
SUP 1: 180
SUP 2: 179


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

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM