CapitalStars Financial Research Pvt.,Ltd., 1 SEBI Registration Number:INA000001647 MCXDailyReport 19 Sep2018 NewsHighlights Gold prices inch up as dollar eases despite tradedispute. Gold The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 per cent. China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of US products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods. Asian stocks rose and US Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the US-China trade conflict, seen by some market participants as less severe than expected. The US Senate voted overwhelmingly on Tuesday to pass a mammoth spending package including $675 billion for the Defense Department and a measure to keep the entire federal government open until Dec. 7, a step toward avoiding a Sept. 30shutdown. The US is on the cusp of implementing tariffs of 10% on $200 billion worth of Chinese goods. London copper led the gains overnight and settled 2.36% higher at $6,091/mt when eased market worries buoyed most base metals. It broke resistance at the 40-day moving average as shorts exited, and may test pressure above at the 60-day moving average in the short run. The SHFE 1811 contract also closed higher at 49,610 yuan/mt after rising to a high of 49,730 yuan/mt. Spot premiums will remain firm at 250-310 yuan/mttoday. Fresh US tariffs imposed on Chinese goods are expected to cause limited impact on the downstream. Both LME nickel and the SHFE 1811 contract closed slightly higher as investors reduced concerns over the China-US trade war. Fresh US tariffs imposed on Chinese goods are expected to cause limited impact on the downstream stainless steel sector as China barely exports such products to the US. We expect LME nickel to consolidate around $12,300/mt today with the 1811 contract trading at 101,500-103,000 yuan/mt. Spot prices are set at 101,500-108,000 yuan/mt today. . Oil prices fall amid surprise growth in U.S. crudestocks. Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles. U.S. West Texas Intermediate (WTI) crude CLc1 fell 0.20 percent, or 14 cents, to $69.71 a barrel. U.S. crude inventories rose by 1.2 million barrels to 397.1 million in the week to Sept. 14, according to data released on Tuesday by the American Petroleum Institute (API). That compared with analyst expectations foradecreaseof2.7millionbarrels.Stockpilesofdistillatefuels,whichincludedieseland
heating oil, rose by 1.5 million barrels, the API data showed, compared with expectations for a 651,000-barrel gain. U.S. crude build temporarily grabbed trader attention," said Chen Kai, head of commodities research at broker ShengdaFutures.
CapitalStars Financial Research Pvt.,Ltd., SEBI Registration Number:INA000001647 MCXDailyReport 19 Sep2018 PreciousMetals CS GOLD (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 30950 RESIST 1: 30850 SUP1:30650 SUP 2:30550 WWW.CAPITALSTARS.COM +917440449744 CS SILVER (DEC) OVERVIEW: TREND : BULLISH RESIST 2: 37900 RESIST 1: 37700 SUP 1: 37300 SUP 2: 37100 WWW.CAPITALSTARS.COM +917440449744 BaseMetals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST2:454.00 RESIST1:448.00 SUP 1: 438.00 SUP 2: 433.00 WWW.CAPITALSTARS.COM +917440449744 CS NICKEL (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2:918.00 RESIST 1:910.00 SUP 1: 892.00 SUP 2: 880.00 WWW.CAPITALSTARS.COM +917440449744 CS ZINC (SEP)OVERVIEW: TREND : SIDEWAYS RESIST2:175.00 RESIST 1:173.50 SUP 1:170.00 SUP 2: 168.00 WWW.CAPITALSTARS.COM +917440449744 CS LEAD (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2:153.00 RESIST 1:151.00 SUP 1:148.00 SUP 2: 146.00 WWW.CAPITALSTARS.COM +917440449744 CS ALUMINIUM (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 2:149.00 RESIST 1:148.00 SUP 1:147.00 SUP 2:145.50 WWW.CAPITALSTARS.COM+917440449744 Energies CS CRUDE OIL (SEP)OVERVIEW: TREND :BULLISH RESIST 2:5120 RESIST 1:5080 SUP 1:5000 SUP 2: 4960 WWW.CAPITALSTARS.COM +917440449744 CS NATURAL GAS (SEP)OVERVIEW: TREND :SIDEWAYS RESIST 2:216.00 RESIST 1:214.50 SUP 1:211.00 SUP 2: 209.00 WWW.CAPITALSTARS.COM +917440449744
CapitalStars Financial Research Pvt.,Ltd., 3 SEBI Registration Number:INA000001647 MCXDailyReport 19 Sep2018 Pick for theDAY • MCX CRUDE SEP on Tuesday as seen in the Daily chart opened at 4983 levels and made day High of 5118 levels. During this period Crude came down to 4962 levels and finally closed at 5055 levels. Now, there are chances of up movement technically &fundamentally. • Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles. • U.S. West Texas Intermediate (WTI) crude CLc1 fell 0.20 percent, or 14 cents, to $69.71 abarrel. DAILY RECOMMENDATION: BUY MCX CRUDE SEP ABOVE 5100 LEVELS FOR TARGET OF 5120/5150 WITH SL 5070 OF LEVELS.
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