MCX weekly report

1. Commodity Weekly Report
From 25th Feb to 1st March 2019

2. PRECIOUS METALS:- Gold has rallied 12% since last
August, but it’s still a buy. So are gold mining stocks. The
metal and mining companies look like a good hedge
against possible global turbulence, stagflation or
recession ahead. Gold is a play on possible dollar
weakness, too MCX tips can also be taken for this. I
remain very positive and constructive on gold,” says
Frank Holmes, the CEO and chief investment officer at
U.S. Global Investors GROW, +0.00% which offers
several precious-metals funds, including the Gold and
precious Metals Fund..

3. ENERGY:-
oil prices rose on Monday as Washington and China
appeared to edge closer to a trade deal,
dampening fears over the outlook for global economic
growth. International B rent crude
oil futures were at $67.26 a barrel at 0005 GMT, up 14
cents, or 0.2 percent, from their last
close. They ended Friday little changed after touching their
highest since Nov. 16 at $67.73 a
barrel.

4. Edify yourself
BASE METALS :-
U.S. President Donald Trump said on Sunday he would
delay an increase in tariffs on Chinese goods
due to “productive” trade talks. He and Chinese President Xi
Jinping would meet to seal a deal if progress continued.
China’s official Xinhua news agency also reported that the
two countries have made “substantial progress” on specific
issues in the latest round of talks. Trade friction is easing
while the Chinese economy is maintaining stability ... In
general, steel would move into a bull market, despite
increasing output,” said analysts from Jinrui Futures in a
note.

5. PIVOT LEVELS
GOLD-APR
RESISTANCE-2
RESISTANCE-1
SUPPORT-1
SUPPORT-2
34050
33750
33000
32700

6. SILVER-MAR
RESISTANCE-2 41200
RESISTANCE-1 40700
SUPPORT-1 39700
SUPPORT-2 39200

7. CRUDE OIL-MAR
RESISTANCE-2 4270
RESISTANCE-1 4170
SUPPORT-1 3970
SUPPORT-2 3870

8. COPPER-FEB
RESISTANCE-2 482
RESISTANCE-1 472
SUPPORT-1 452
SUPPORT-2 442

9. Thank you
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