GIVE MISS CALL ON :- +91 99774 99927

DAILY MCX COMMODITY MARKET NEWS & LEVELS – 19 MAY 2017

mcx-tips
Gold gains in Asia on heightened risk sentiment.   

Gold gained in Asia on Friday on heightened risk sentiment over political turmoil in Brazil and the U.S. and a potentially softer outlook for Fed rate hikes this year as the Trump administration faces headwinds on its economic stimulus plans. Demand fell for traditional safe-havens such as gold, U.S. treasuries, and the yen, as investors turned attention to better than expected U.S. economic data, despite continued political turmoil in Washington.   

According to investing.com’s Fed rate monitor tool 61% of traders expect the Federal Reserve to hike its benchmark rate in June, compared to nearly 80% of traders in the previous week.  

Chinese copper scrap prices rose slightly on Index.  

The Chinese copper scrap prices ended marginally higher on ScrapMonster Price Index  as on WednesdayCopper Transformer scrap prices saw no variation in prices over the previous day. No price-change was witnessed in Cu Yokes. Also, Scrap Electric Motors and Sealed Units prices remained unchanged.  

LME Nickel to Remain at Current Level.  

Continuous recovery in the eurozone may weigh on the US dollar. China’s finished production inventories at Chinese stainless steel plants remained high. SHFE 1709 nickel should hover between RMB 75,500-76,500/mt, with spot prices between RMB 74,200-77,300/mt.    


Crude prices gain slightly in Asia, U.S. rig count eyed.  

Oil World Crude prices rose slightly in early Asia on Friday with weekly rig count figures expected to set the near-term tone ahead of next week’s meeting of OPEC and allied producers on production cuts.Overnight, crude futures settled higher on Thursday, as investors remained optimistic that OPEC would reach an agreement to extend the current supply-cut deal beyond June at its meeting next week.Despite the high level of compliance from OPEC members with the deal to rein in supply, global production remains above the five-year average, as non-OPEC members, who are not part of the supply-cut agreement have ramped up production.OPEC and other producers are set to meet on May 25 to decide whether to extend the current supply-cut deal amid growing optimism for a prolonged period of cuts.  

Saudi Arabia and Russia agreed earlier this week that production cuts needed to be extended for a period of nine months until March 2018.The International Energy Agency (IEA) on Wednesday, however, warned that OPEC’s effort to rein in the glut in supply may fail even if the oil group agrees to extend its supply-cut agreement. 

Precious Levels

CS GOLD (JUNE) OVERVIEW: 

TREND : BULLISH 

RESIST 2: 29000 

RESIST 1: 28800 

SUP 1: 28400 

SUP 2: 28200 


CS SILVER (JULY) OVERVIEW: 

TREND : SIDEWAYS 

RESIST 2: 39500 

RESIST 1: 39300 

SUP1: 38300 

SUP2: 38100 


Base Metal Levels

CS COPPER (JUNE) OVERVIEW: 

TREND : BULLISH 

RESIST 2:374 

RESIST 1:369 

SUP1:359 

SUP2:354 


CS NICKEL (MAY) OVERVIEW: 

TREND : SIDEWAYS 

RESIST 2:605 

RESIST 1:597 

SUP1:580 

SUP2:575 


CS ZINC (MAY) OVERVIEW: 

TREND : SIDEWAYS 

RESIST 2:167.50 

RESIST 1:166.00 

SUP1:162.00 

SUP2:161.00


CS LEAD (MAY) OVERVIEW: 

TREND : SIDEWAYS 

RESIST 2: 138.00 

RESIST 1: 136.00 

SUP1: 132.00 

SUP2: 131.00 


CS ALUMINIUM (MAY) OVERVIEW: 

TREND : BULLISH 

RESIST 2: 126.50 

RESIST 1: 125.50 

SUP1: 123.00 

SUP2: 122.00 


Energy Levels

CS CRUDE OIL (JUNE) OVERVIEW: 

TREND : BULLISH 

RESIST 2:3360 

RESIST 1:3330 

SUP1:3200 

SUP2:3170 


CS NATURAL GAS (MAY) OVERVIEW: 

TREND : SIDEWAYS 

RESIST 2:215.00 

RESIST 1:211.00

SUP1:204.00 

SUP2:200.00 

Commodity Market TipsMCX Copper TipsMCX TipsCrude oil tipsNifty Options Tips,Stock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore

CapitalStars Provides 2 Days 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