Crude Oil low on last week as concerns about global growth and slowing demand lingered despite hints of progress on U.S.-China trade talks, setting up prices for weekly losses after days of swinging back and forth.

2. ENERGY OUTLOOK –
Crude Oil low on last week as concerns about global growth and slowing demand lingered despite hints of
progress on U.S.-China trade talks, setting up prices for weekly losses after days of swinging back and forth.
The weak confidence in the markets was reflected by economists in a Reuters poll who predicted the U.S.-
China trade spat will worsen or at best stay the same over the coming year.
Nearly 80% of more than 60 economists said U.S.-China trade relations would either worsen or stay the
same by the end of next year. The median probability of a U.S. recession in the next two years held at a high
of 45%, and the chance of one in the next 12 months held at 30%.
Iraq, OPEC's second-largest oil producer, pledged to reduce output by 175,000 barrels per day (bpd) by
October, while Nigeria agreed to cut 57,000 bpd.
Chart Details – STRONG SUPPORT appear and may be CRUDEOIL go UP .
( WEEKLY MCX CALL BUY CRUDEOIL ABOVE 3935 TGT 3985 TGT 4020 TGT 4070 SL 3870)
Monday 16 September.2019

3. ✍MCX WEEKLY LEVELS
(On the basis of last week data and the research of our expert you can get profit of 1 lac on the
investment of 3 lacs if you proper follow our guidelines it is also depends on market condition)
WEEKLY EXPIRY
DATE
R3 R2 R1 PP S
1
S2 S3
ALUMINIUM 30-SEP-2019 146.50 143.40 142.10 140.20 137.60 136.10 133
COPPER 30-SEP-2019 469.50 464 459.30 453.20 448 442.30 438
CRUDE OIL 19-SEP-2019 4170 4065 3980 3860 3703 3630 3540
GOLD 4-OCT-2019 39070 38600 38120 37870 37230 36920 36700
LEAD 30-SEP-2019 192.90 190.30 187.80 185.05
183.20
181.60 179.30
NATURAL GAS 25-SEP-2019 194.30 190.10 185.4
0
181.20 176.70 173 169.40
NICKEL 30-SEP-2019 1265 1249 1234 1209 1196 1185 1165
SILVER 05-DEC-2019 49010 48200 47540 46300 44900 43700 42600
ZINC 30-SEP-2019 161.30 158.70 155.30 152.30 150.00 147.60 145.05

4. MCX - WEEKLY NEWS LETTERS
✍ INTERNATIONAL UPDATES ( BULLION & ENERGY )
✍ GOLD
Gold prices gave up their gains after rallying following the European Central Bank’s (ECB) decisions to cut
rate and promise quantitative easing.
U.S. President Donald Trump, who has lambasted Fed Chairman Jerome Powell for months now for not
cutting rates more aggressively, tweeted on Wednesday that the “boneheads” at the central bank should cut
rates to “ZERO, or below”
Gold longs got the shot in the arm they wanted after the European Central Bank’s rate cut and promise
quantitative easing in last week. That pushed the yellow metal to one-week highs above $1,500 in
anticipation of similar dovish action from the Federal Reserve.
✍ ENERGY
Crude Oil markets fell in Asia as an OPEC agreement to cut oil output and positive Sino-U.S. trade
development failed to lift prices.
oil markets, however, concern over whether Trump can achieve progress on the trade dispute has

5. overshadowed OPEC's agreement to trim output by asking members Iraq and Nigeria to bring their
production back in line with targets.
OPEC is striving to prevent a glut amid soaring U.S. production and a slowing global economy.
OPEC+ has over-complied on average with its agreed cut of 1.2 million barrels per day (bpd) as Iranian and
Venezuelan exports collapsed due to sanctions.
"With OPEC's production curbs and ongoing constraints on sanctioned countries, we see the market
tightening in Q4 2019. This should help stabilise prices."
OPEC agreed in a meeting on Thursday to cut its oil output and ask Iraq and Nigeria to bring production
down in an attempt to prevent a glut as U.S. production soars.
Meanwhile, Bloomberg reported that the Trump administration officials are considering to offer a limited
trade agreement to China that would delay and even roll back some U.S. tariffs.
BASE METAL’S OUTLOOK
China renewed purchases of U.S. farm goods, and U.S. President Donald Trump delayed a tariff increase on
certain Chinese goods by two weeks, as the two sides made conciliatory gestures ahead of planned talks later
in September and October.The three-month nickel price on the London Metal Exchange was lower at the
close of trading on last week, while considerable tightness in the metal’s forward spreads prompted market
questions of prospective deliveries into LME warehouses to ease trading conditions.Copper and some base
metals rose in last week as investors cheered signs of progress in resolving the U.S.-China trade conflict, but
the market was quiet due to a holiday in top consumer China.The premium of LME nickel cash to the three-
month contract jumped to $163 a tonne from $102 a tonne .Aluminium ended 1.2% lower to $1,803 a tonne,
zinc eased 0.7% to $2,347, lead shed 0.8% to 2,090 and nickel added 0.5% to $17,990.

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