The document provides a daily report on commodity markets from CapitalStars Financial Research Pvt. Ltd. It summarizes news affecting bullion, energy, and base metals. Gold prices were steady while weak US economic data supported prices. Oil prices were stable ahead of expected weak Chinese growth data. Copper prices advanced on hopes for a US-China trade deal and Brexit agreement. The report also provides technical analyses and recommendations for various MCX commodities, suggesting selling nickel futures below 1181.

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MCX Daily Report 18TH
OCT 2019
News Highlights
BULLION – Bullion counter may trade on sideways bias. Gold prices held steady on Friday after
Britain managed to eke out a deal for its exit from the European Union, lifting risk appetite,
while a sluggish dollar provided support to the metal. European Union leaders unanimously
backed a new Brexit deal with Britain on Thursday, leaving Prime Minister Boris Johnson facing
a battle to secure the UK parliament’s backing for the agreement if he is to take Britain out of
Europe on Oct. 31. Lifting gold’s safe-haven appeal, weak retail sales data and industrial
output report out of the United States fanned fears about the health of the world’s biggest
economy, amid the prolonged Sino-U.S. trade dispute. The Chinese commerce ministry said on
Thursday that China hoped to reach a phased agreement with the United States over trade as
early as possible, and make progress on cancelling tariffs on each other’s goods.
ENERGY- Oil prices were stable on Friday ahead of data that analysts say could show China,
the world’s largest oil consumer, just recorded its weakest quarter of economic growth in
nearly three decades, dragged down by a trade dispute with the United States. China Jan-Sept
crude oil throughput rose 6.2% year-on-year at 480.38 million tonnes, the National Bureau of
Statistics said on Friday. U.S. crude inventories increased by 9.3 million barrels in the week
ended Oct.11, compared with analysts’ expectations for an increase of 2.9 million barrels.
Elsewhere, the joint technical committee monitoring a global deal to cut output between the
Organization of the Petroleum Exporting Countries (OPEC) and partners, including Russia,
found compliance with cuts for September stood at 236%, according to four OPEC sources
OPEC and its allies have agreed to limit their oil production by 1.2 million barrels per day (bpd)
until March 2020.
BASE METAL – Base metals may trade with positive bias. Copper prices advanced on Friday on
a tentative divorce deal between the United Kingdom and the European Union, as well as
hopes for a partial U.S.-China trade deal. Copper prices are widely used as a gauge of
economic health, which has been hurt by the prolonged trade war between the United States
and China, as well as volatilities caused by the lengthy Brexit negotiations. European Union
leaders unanimously backed a new Brexit deal with Britain on Thursday, while China’s
commerce ministry said China hoped to reach a phased agreement with the United States.

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SEBI Registration Number: INA000001647
MCX Daily Report 18TH
OCT 2019
Precious Metals
CS GOLD (DEC) OVERVIEW:
TREND :SIDEWAYS
RESIST 2: 38390
RESIST 1: 38290
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CS COPPER (OCT) OVERVIEW:
TREND : BEARISH TREND : BEARISH
RESIST 1: 1188
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CS ZINC (OCT) OVERVIEW: CS LEAD (OCT) OVERVIEW:
RESIST 2: 186 RESIST 2:158
RESIST 1: 157
SUP 1: 155
SUP 2: 182 SUP 2: 154
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CS ALUMINIUM (OCT) OVERVIEW:
TREND : SIDEWAYS
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
SUP 1: 3760
SUP 2: 3710
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SEBI Registration Number: INA000001647
MCX Daily Report 18TH
OCT 2019
Pick for the DAY
MCX NICKEL OCT on THURSDAY as seen in the Daily chart opened at 1197.00 levels and
made day low of 1171.00 levels. During this period NICKEL OCT high is 1197.00 levels and
finally closed at 1173.50 levels. Now, there are chances of up movement technically &
fundamentally.
DAILY RECOMMENDATION: SELL MCX NICKEL OCT BELOW 1181 LEVELS FOR TARGET
OF 1171 /1161 WITH SL 1196 OF LEVELS.

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MCX Daily Report 18TH
OCT 2019
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