CapitalStars MCX Daily Report 17 june 2019

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MCX Daily Report 17TH JUNE 2019

News Highlights

BULLION - Gold prices rose by 0.4 percent last week over expectation of rate cut by the U.S.
Federal Reserve. Slowdown in the global growth amid weakening of the US economy might
pressurize the FED to trim the rates which weighed on the US Dollar & in turn support Gold
prices. Markets will have a keen watch on the next meeting of the US FED policymakers which
is to be held on June 18-19, 2019. U.S. & Mexico struck a deal last week, side stepping a
possible trade war and averting chances of an economic slowdown capped the gains for Gold.
However, escalating trade tension between U.S. & China coupled with rising global
uncertainties continues raise worries over the global economic growth and push investors to
take shelter under the bullion metal. China stated that it won’t come under any pressure and
enter in to a contract forced by U.S. which further worsened the trade situation between the
super power nations.

ENERGY-Crude dipped by 3.0 percent last week as escalating tension between US & China and
surge in US Crude inventory levels weighed on the prices. As per reports from the U.S. Energy
Information Administration (EIA), Crude inventories surged by 2.2 million barrels last week
against the markets expectation of a decline of over 480,000 barrels. Moreover, the biggest
consumer of Crude, China, imported crude around 40.23 million tonnes in May 2019 down
from an all-time high of 43.73 million tonnes in April 2019. The fall in imports came following
the drop in Iranian imports caused by U.S. sanctions and refinery maintenance coupled with
falling domestic demand. The downtrend was limited after fresh supply concerns rose from
the Middle East as two oil tankers were attacked in the gulf of Oman. This is the second attack
on one of the world’s key shipping routes. Meanwhile, China's officials stated that
Washington’s attempt to force Beijing into a trade deal won’t be successful; they won’t come
under any pressure from the United States which further escalated trade tension.

BASE METAL - Last week, base metals on the LME traded positive except for Zinc which
declined by 0.2 percent. Rising demand for Alloy in the market led to an uptrend in the prices
of Nickel which was the highest gainer amongst the pack last week. However, trade tension
between US and China continues to hamper the global demand prospects for Industrial
metals. U.S. President Donald Trump and China’s President Xi Jinping will meet at the G20
summit in Osaka on 28-29 June, 2019. After the meeting U.S. President will decide whether to
impose duties on the remaining Chinese goods. However, U.S. President Trump added that he
had a “feeling” that a U.S.-China trade deal could be reached. But if there is no deal then he
the situation might worsen. China's officials stated that Washington’s attempt to force Beijing
into a trade deal won’t be successful; they won’t come under any pressure from the US.

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MCX Daily Report 17TH JUNE 2019

Precious Metals

CS GOLD (AUG) OVERVIEW: CS SILVER (JUL) OVERVIEW:

TREND : BULLISH TREND : SIDEWAYS

RESIST 2: 33500 RESIST 2: 37900

RESIST 1: 33300 RESIST 1: 37500

SUP 1: 32900 SUP 1: 36800

SUP 2: 32700 SUP 2: 36500

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Base Metals

CS COPPER (JUN) OVERVIEW: CS NICKEL (JUN) OVERVIEW:

TREND : SIDEWAYS TREND : BULLISH

RESIST 2: 411.00 RESIST 2: 888.00

RESIST 1: 409.00 RESIST 1: 882.00

SUP 1: 405.00 SUP 1: 872.00

SUP 2: 404.00 SUP 2: 867.00

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CS ZINC (JUN) OVERVIEW: CS LEAD (JUN) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 206.00 RESIST 2: 156.00
RESIST 1: 205.00 RESIST 1: 154.00
SUP 1: 203.00 SUP 1: 153.00
SUP 2: 202.00 SUP 2: 152.00

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CS ALUMINIUM (JUN) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 144.00
RESIST 1: 143.00
SUP 1: 141.00
SUP 2: 140.00

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Energy

CS CRUDE OIL (JUN) OVERVIEW: CS NATURAL GAS (JUN) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 3750 RESIST 2: 172.00

RESIST 1:3710 RESIST 1: 170.00
SUP 1: 3620 SUP 1: 163.00
SUP 2: 3560 SUP 2: 160.00

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MCX Daily Report 17TH JUNE 2019

Pick for the DAY

MCX ALUMINIUM JUN on FRIDAY as seen in the Daily chart opened at 143.20 levels and
made day low of 142.10 Levels. During this period ALUMINIUM JUN High is 143.45 levels
and finally closed at 142.20 levels. Now, there are chances of down movement technically &
fundamentally.

DAILY RECOMMENDATION: SELL MCX ALUMINIUM JUN BELOW 142.35 LEVELS FOR

TARGET OF 141.35/140.30 WITH SL 143.65 OF LEVELS.

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MCX Daily Report 17TH JUNE 2019

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