15 OCT 2019 MCX DAILY REPORT

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MCX Daily Report 15TH OCT 2019

News Highlights

BULLION – Bullion counter may trade on sideways bias. Gold prices held steady below the
$1,500 per ounce level on Tuesday as markets braced for talks between Britain and the
European Union that will determine how smooth Britain’s departure will be from the trading
bloc. Officials from Britain and the EU will meet at a make-or-break summit on Thursday and
Friday that will determine whether or not Britain is headed for a so-called no-deal Brexit.
Meanwhile, U.S. Treasury Secretary Steven Mnuchin said on Monday that an additional round
of tariffs on Chinese imports will likely be imposed if a trade deal with China has not been
reached by December, but added that he expected the agreement to go through. Markets
also look for signs the U.S. Federal Reserve will cut interest rates at its next meeting later in
the month.

ENERGY- Crude oil may trade with sideways bias as oil prices were little changed on
Monday, holding onto 2% gains from Friday amid renewed geopolitical tensions in the Middle
East, while a detente in the U.S.-China trade war buoyed market sentiment. Most of the gains
were posted on Friday after an Iranian oil tanker was attacked off Saudi Arabia’s coast in the
Red Sea. Investigations are under way to determine if the tanker was hit by missiles, which
could ratchet up tensions between Tehran and Riyadh if confirmed. The emergence of a phase
1 trade deal between the United States and China and a goodwill move by Washington to
suspend threatened tariffs on Chinese products also lifted global financial markets.

BASE METAL – Base metals may trade with positive bias. Shanghai copper prices edged up
on Monday amid signs of progress in the U.S.-China trade talks, but gains were limited as the
markets remained cautious about the prospects of a durable deal. U.S. President Donald
Trump on Friday outlined the first phase of a deal to end a trade war with China and
suspended a threatened tariff hike on Oct. 15, but existing tariffs remain in place and officials
on both sides said much more work is needed before an accord could be agreed. The
protracted trade dispute between the United States and China has slowed global growth and
weakened demand for industrial metals. Signs of progress in the trade talks often resulted in a
pick-up in metals prices.

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MCX Daily Report 15TH OCT 2019

Precious Metals

CS GOLD (DEC) OVERVIEW: CS SILVER (DEC) OVERVIEW:
TREND :SIDEWAYS TREND : SIDEWAYS
RESIST 2: 38600 RESIST 2:46230

RESIST 1: 38400 RESIST 1:46020
SUP 1: 37900 SUP 1: 45400
SUP 2: 37580 SUP 2: 44990
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Base Metals

CS COPPER (OCT) OVERVIEW: CS NICKEL (OCT) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2:450 RESIST 2:1275

RESIST 1:446 RESIST 1: 1260
SUP 1:442 SUP 1:1229
SUP 2:438 SUP 2:1214

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 189 RESIST 2:157
RESIST 1:188 RESIST 1: 156
SUP 1:186 SUP 1: 154
SUP 2: 185 SUP 2: 153

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:135
RESIST 1: 134
SUP 1:132
SUP 2: 131

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Energy

CS CRUDE OIL (OCT) OVERVIEW: CS NATURAL GAS (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2:3960 RESIST 2:165

RESIST 1:3890 RESIST 1:164
SUP 1: 3750 SUP 1: 162
SUP 2: 3690 SUP 2: 161

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MCX Daily Report 15TH OCT 2019

Pick for the DAY

MCX ZINC OCT on MONDAY as seen in the Daily chart opened at 186.80 levels and made day
low of 185.60 levels. During this period ZINC OCT high is 187.70 levels and finally closed at
187.00 levels. Now, there are chances of up movement technically & fundamentally.

DAILY RECOMMENDATION: BUY MCX ZINC OCT ABOVE 187 LEVELS FOR TARGET OF

188/189 WITH SL 185 OF LEVELS.

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MCX Daily Report 15TH OCT 2019

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