)4 Oct MCX DAILY REPORT

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MCX Daily Report 04TH OCT 2019

News Highlights

BULLION – Bullion counter may trade on sideways to positive bias but profit booking at
higher levels can be seen. Gold jumped more than 1% to its highest in a week on Thursday as
weak U.S. data deepened concerns over economic growth and bolstered bets for further
interest rate cuts by the Federal Reserve. U.S. services sector growth hit its slowest pace in
three years last month, and job growth in the largest segment of the economy was the
weakest in half a decade, a survey of purchasing managers showed. The weaker-than-
expected U.S. economic data weighed on global financial markets, extending a stock slide that
has pushed world equity benchmarks back to lows last seen in August.

ENERGY- Crude oil may witness bounce back at lower levels. Oil futures edged higher on
Friday but were on track for a large weekly loss on fears that slower global economic growth
will hurt fuel demand, while Saudi Arabia said it has fully restored oil output after recent
attacks. Concerns about global oil demand are rising, and next week’s U.S.-China trade talks,
the significant X factor, will be particularly important, given the sharp drop in the oil price over
the last week. Saudi Arabia’s energy minister Prince Abdul-Aziz bin Salman also said on
Thursday the world’s top crude oil exporter has fully restored oil output after attacks on its
facilities last month that knocked out more than 5% of global oil supply.

BASE METAL – Base metals may trade with sideways bias. 20, after 39,750 tonnes of arrivals.
The discount for cash copper vs three-month metal on the LME rose to $35 this week, the
most since August last year, pointing to plentiful availability. Copper prices slipped for a fourth
day on Thursday after the United States announced tariffs on some European goods, adding
to fears that a global economic slowdown will deepen, weakening demand for metal. Weak
copper supply growth will likely tighten the market but prices will remain around current
levels due to the poor demand outlook. Washington said it would slap tariffs on European
goods including cheese and Airbus planes as punishment for illegal EU aircraft subsidies.

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MCX Daily Report 04TH OCT 2019

Precious Metals

CS GOLD (DEC) OVERVIEW: CS SILVER (DEC) OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 38890 RESIST 2:46390

RESIST 1: 38650 RESIST 1:46010
SUP 1:38040 SUP 1: 45250
SUP 2: 37910 SUP 2: 44860
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Base Metals

CS COPPER (OCT) OVERVIEW: CS NICKEL (OCT) OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2:342 RESIST 2:1292

RESIST 1:338 RESIST 1: 1277
SUP 1:432 SUP 1:1247
SUP 2:430 SUP 2:1232

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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2: 183 RESIST 2:157
RESIST 1:182 RESIST 1: 156
SUP 1:180 SUP 1: 154
SUP 2: 179 SUP 2: 153

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CS ALUMINIUM (OCT) OVERVIEW:
TREND : BEARISH
RESIST 2:136
RESIST 1:135
SUP 1: 133
SUP 2: 132

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Energy

CS CRUDE OIL (OCT) OVERVIEW: CS NATURAL GAS (OCT) OVERVIEW:
TREND : BEARISH TREND : SIDEWAYS
RESIST 2:3870 RESIST 2:168

RESIST 1:37100 RESIST 1:167
SUP 1: 3640 SUP 1: 165
SUP 2: 3550 SUP 2: 164

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MCX Daily Report 04TH OCT 2019

Pick for the DAY

MCX NATURALGAS OCT on THURSDAY as seen in the Daily chart opened at 166.00 levels
and made day low of 157.50 levels. During this period NATURALGAS OCT high is 167.80
levels and finally closed at 165.00 levels. Now, there are chances of up movement
technically & fundamentally.

DAILY RECOMMENDATION: SELL MCX NATURALGAS OCT BELOW 167 LEVELS FOR

TARGET OF 165/163 WITH SL 171 OF LEVELS.

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MCX Daily Report 04TH OCT 2019

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