Gold prices held steady after rising the previous day as the dollar retreated from highs. British Prime Minister Theresa May secured backing for her Brexit deal while Italy resubmitted its budget proposal to the EU. US consumer prices rose the most in nine months pointing to higher inflation and interest rates. Copper and nickel prices traded in a narrow range with copper supported at its moving average and nickel seeing slower domestic demand. Oil prices fell on oversupply concerns as production rises and economic outlook dims.

1. CapitalStars Financial Research Pvt., Ltd., 1
SEBI Registration Number: INA000001647
MCX Daily Report 15 NOV 2018
News Highlights
Gold edges back above $1,200 as dollar rally stalls.
Gold prices held steady on Thursday, after rising nearly a percent in the previous session, as the dollar
retreated further from a 16-month peak against a basket of currencies. British Prime Minister Theresa May
won the backing of her senior ministers for a draft European Union divorce deal on Wednesday, freeing her
to tackle the much more perilous struggle of getting parliament to approve the agreement. Italy re-submitted
its draft 2019 budget to the European Commission with the same growth and deficit assumptions as a draft
rejected for breaking European Union rules, stepping up its showdown with the EU over its fiscal policy.
U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline
and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise
interest rates again next month. Fed Chair Jerome Powell said the introduction of press conferences after
every Federal Reserve meeting next year means all meetings are now "live" for possible rate increases.
Despite a moderate decline overnight, the US dollar index remained at high levels, which will
continue to weigh on copper prices in the short run.
London copper returned to the five-day moving average amid rising hopes for a Brexit deal. It rose to a high
of $6,123.5/mt overnight and closed at $6,100/mt. The SHFE 1901 contract also received support at the
daily moving average and increased to a high of 49,280 yuan/mt as investors added their longs. However,
long-term pressure is expected as the US dollar remains high and the market looks ahead for further
interest rates hikes this year. We expect LME copper to trade at $6,050-6,100/mt today with the SHFE 1901
contract at 48,700-49,200 yuan/mt. Spot premiums are set at 50-110 yuan/mt on the last trading day before
delivery.
Slower-than-expected domestic demand is likely to see the Nickel contract trade in range bound.
As the US dollar dipped from 16-month highs overnight, LME nickel tested pressure above at
$11,350/mt several times. However, unsustained upward momentum lowered it to around the daily
moving average, and closed it at $11,305/mt. LME nickel stocks shrank 294 mt to 216,306 mt. The
SHFE 1901 contract also came off from a high of 94,510 yuan/mt and closed around the daily moving
average at 94,200 yuan/mt. Slower-than- expected domestic demand is likely to see the contract trade
at 93,500-95,000 yuan/mt today, with LME nickel hovering around $11,300/mt. Spot prices are seen at
94,500- 105,500 yuan/mt today.
Oil prices resume decline on oversupply worries.
Oil prices fell on Thursday, pressured by rising supply going into a market in which consumption is
expected to slow down amid a glum economic outlook. Since early October, oil prices have lost around a
quarter of their value as supply soars just as demand is expected to slow down along with an economic
downturn. Refiners and consumers we speak with are mentioning initial concerns of slowing demand," said
Mike Corley, president of Mercator Energy Advisors. Meanwhile, data released this week showed
economic contraction

2. in industrial powerhouses Japan and Germany in the third quarter. the same time, supply has been surging,
especially due to a 22 percent rise in output in U.S. crude oil production C-OUT- T-EIA this year to a record
11.6 million barrels per day (bpd). As a result, oil inventories are rising.

3. CapitalStars Financial Research Pvt., Ltd.,
SEBI Registration Number: INA000001647
MCX Daily Report 15 NOV 2018
Precious Metals
CS GOLD (DEC) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 31200
RESIST 1: 30900
SUP 1:30600
SUP 2:30500
WWW.CAPITALSTARS.COM
+919977499927
CS SILVER (DEC) OVERVIEW:
TREND : BEARISH
RESIST 2: 37100
RESIST 1: 36900
SUP 1: 36100
SUP 2: 35900
WWW.CAPITALSTARS.COM
+919977499927
Base Metals
CS COPPER (NOV) OVERVIEW:
TREND : BULLISH RESIST
2:440.00
RESIST 1:436.00
SUP 1: 430.00
SUP 2: 424.00
WWW.CAPITALSTARS.COM
+919977499927
CS NICKEL (NOV) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 835.00
RESIST 1: 828.00
SUP 1: 818.00
SUP 2: 808.00
WWW.CAPITALSTARS.COM
+919977499927
CS ZINC (NOV) OVERVIEW:
TREND : SIDEWAYS RESIST
2:188.00
RESIST 1:186.00
SUP 1: 183.00
SUP 2: 181.00
WWW.CAPITALSTARS.COM
+919977499927
CS LEAD (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 143.00
RESIST 1: 141.00
SUP 1: 138.00
SUP 2: 136.00
WWW.CAPITALSTARS.COM
+919977499927
CS ALUMINIUM (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 145.00
RESIST 1: 143.00
SUP 1: 140.00
SUP 2: 138.00
WWW.CAPITALSTARS.COM +919977499927
Energies
CS CRUDE OIL (NOV) OVERVIEW:
TREND : BEARISH
RESIST 2: 4380
RESIST 1: 4325
SUP 1: 4250
SUP 2: 4200
WWW.CAPITALSTARS.COM
+919977499927
CS NATURAL GAS (NOV) OVERVIEW:
TREND : BULLISH
RESIST 2: 289.00
RESIST 1: 285.00
SUP 1: 283.00
SUP 2: 280.00
WWW.CAPITALSTARS.COM
+919977499927

5. CapitalStars Financial Research Pvt., Ltd., 3
SEBI Registration Number: INA000001647
MCX Daily Report 15 NOV 2018
Pick for the DAY
MCX Crude on Friday as seen in the Daily chart opened at 4030 levels and
made day Low of 3968 Levels. During this period Crude High is 4145 levels
and finally closed at 4089 levels. Now, there are chances of down movement
technically & fundamentally.
Oil prices fell on Thursday, pressured by rising supply going into a market in
which consumption is expected to slow down amid a glum economic outlook.
Since early October, oil prices have lost around a quarter of their value as
supply soars just as demand is expected to slow down along with an
economic downturn.
DAILY RECOMMENDATION: SELL MCX CRUDE NOV BELOW 4054
LEVELS FOR TARGET OF 4030/4005 WITH SL 4080 OF LEVELS.

6. CapitalStars Financial Research Pvt., Ltd., 4
SEBI Registration Number: INA000001647
MCX Daily Report 15 NOV 2018
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