Gold prices were steady as global political tensions supported prices and the dollar weakened slightly against the yen. Copper and nickel prices fell as the strengthening dollar depressed market sentiment. Oil prices edged up due to tightening supplies from Iran sanctions, but trade tensions weighed on further gains and Brent and WTI crude are forecast to decline over the week. MCX crude oil is recommended to short sell below 4,600 levels.

1. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 10Aug 2018
1
News Highlights
Gold prices buoyed by global political tensions.
Gold prices held broadly steady early on Friday after dipping the session before, drawing some
support from global political tensions and a slightly weaker dollarNSE -0.88 % against the yen.
Japan economy expanded at an annualised rate of 1.9 per cent in April-June, bouncing back
from a contraction in the previous quarter, government data showed on Friday, in a sign its
recovery momentum remained intact. The US economy is performing "very well" with continued
growth clearing the way for one or two more interest rate hikes in 2018, Chicago Federal Reserve Bank President Charles
Evans said on Thursday in an interview in which he dismissed earlier worries about weak inflation.
Copper prices came off from early highs overnight as market sentiment was depressed by the strengthening dollar.
Copper prices came off from early highs overnight as market sentiment was depressed by
the strengthening dollar. LME copper hit the $6,300/mt level but closed near $6,200/mt; the
SHFE 1810 contract jumped past the 50,000 yuan/mt level but closed near 49,850 yuan/mt.
We expect copper prices to rise in the short term, but the upward room would be limited.
LME copper is likely to trade at $6,180-6,240/mt today and the SHFE 1810 contract at
49,600-50,100 yuan/mt. Spot premiums are seen lower at 10-50 yuan/mt..
Nickel fell sharply to a low of $13,845/mt on a strengthened US dollar.
LME nickel fell sharply to a low of $13,845/mt on a strengthened US dollar. It closed over 1% lower from Wednesday at
$13,905/mt. We see it hovering around $13,800/mt today with continued pressure at the 40-day moving average today.
The SHFE 1811 contract diverged gradually from the daily moving average to a low of 113,340 yuan/mt. It then stopped
falling and closed at 113,770 yuan/mt. Limited upward momentum is seen for the contract, which is likely to trade at
113,000-114,500 yuan/mt today. Spot prices are set at 112,800-115,000 yuan/mt.
Oil edges up on Iran sanctions tightening supply, but trade spat weighs.
Oil prices on Friday edged up on worries that reimposed U.S. sanctions against Iran would tighten supplies, although the
escalating trade dispute between Washington and Beijing held markets back from further gains. Despite the possibility of
a slowdown in economic growth due to escalating trade tensions, oil markets are for now relatively tight, analysts said,
mostly because of sanctions on Iranian oil exports the United States plan to implement in November. many other
powers, including the European Union and major Asian buyers such as China and India oppose sanctions, many are
expected to bow to American pressure. On a weekly basis, Brent is set for a 1.5 to 2 percent fall, while WTI is heading for
a drop of around 2.5 percent.

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MCX Daily Report 10Aug 2018
2
CS GOLD (OCT) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 29810
RESIST 1: 29730
SUP 1: 29590
SUP 2: 29480
WWW.CAPITALSTARS.COM +917440449744
CS SILVER (SEP) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 38370
RESIST 1: 38200
SUP 1: 37940
SUP 2: 37800
WWW.CAPITALSTARS.COM +917440449744
Base Metals
CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 430.00
RESIST 1: 426.00
SUP 1: 418.00
SUP 2: 415.00
WWW.CAPITALSTARS.COM +917440449744
CS NICKEL (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 976.00
RESIST 1: 964.00
SUP 1: 945.00
SUP 2: 938.00
WWW.CAPITALSTARS.COM +917440449744
CS ZINC (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 186.00
RESIST 1: 184.00
SUP 1: 179.00
SUP 2: 177.00
WWW.CAPITALSTARS.COM +917440449744
CS LEAD (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 150.00
RESIST 1: 147.50
SUP 1: 143.50
SUP 2: 141.50
WWW.CAPITALSTARS.COM +917440449744
CS ALUMINIUM (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 148.50
RESIST 1: 146.50
SUP 1: 140.50
SUP 2: 138.50
WWW.CAPITALSTARS.COM +917440449744
Energies
CS CRUDE OIL (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 4670
RESIST 1: 4640
SUP 1: 4570
SUP 2: 4530
WWW.CAPITALSTARS.COM +917440449744
CS NATURAL GAS (AUG) OVERVIEW:
TREND : BULLISH
RESIST 2: 205.00
RESIST 1: 204.00
SUP 1: 202.00
SUP 2: 201.00
WWW.CAPITALSTARS.COM +917440449744
Precious Metals

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 10Aug 2018
3
Pick for the DAY
MCX CRUDE AUG on Thursday as seen in the Daily chart opened at 4585 levels and
made day low of 4566 levels. During this period crude came up to 4635 levels and
finally closed at 4602 levels. Now, there are chances of down movement technically &
fundamentally.
 Oil prices on Friday edged up on worries that reimposed U.S. sanctions against Iran
would tighten supplies, although the escalating trade dispute between Washington
and Beijing held markets back from further gains.
 On a weekly basis, Brent is set for a 1.5 to 2 percent fall, while WTI is heading for a
drop of around 2.5 percent.
DAILY RECOMMENDATION: SELL MCX CRUDE OIL AUG BELOW 4600 LEVELS
FOR TARGET OF 4560/4520 WITH SL 4675 OF LEVELS

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SEBI Registration Number: INA000001647
MCX Daily Report 10Aug 2018
4
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