DAILY MCX COMMODITY MARKET NEWS & LEVELS - 26 JULY 2016

                                                                                  

HIGH LIGHTS:- 

• Brent, NYMEX gain in Asia as investors look ahead to API estimates. 
• Gold prices ease in Asia in cautious trade with focus on Fed. 
• LME Physical Storage Capacity, Registered Stocks Continue to Decline. 

PRECIOUS METALS:- 

Gold drifted lower on Tuesday in Asia with sparse regional data and investors squarely-focused on this week's review of interest rates by the Federal Reserve. 
On the Comex division of the New York Mercantile Exchange, gold for December delivery eased 0.20% to $1,324.70 a troy ounce. Silver futures for September delivery fell 0.39% to $19.570 a troy ounce. 
Federal Open Market Committee's two-day July monetary policy meeting on Tuesday morning. 

PRECIOUS LEVEL

CS GOLD (AUGUST) OVERVIEW:

TREND : BEARISH 
RESIST 2: 31290 
RESIST 1: 31090 
SUP 1: 30660  
SUP 2: 30420 

CS SILVER (SEPTEMBER) OVERVIEW:

TREND : BEARISH 
RESIST 2: 47100 
RESIST 1: 46650 
SUP1: 45600 
SUP2: 45000 

BASE METALS:- 

The London Metal Exchange is seeing volumes fall while Japan and China spar over anti-dumping duties the latter slapped on the former for electrical steel imports. LME copper will fall to USD 4,8804,925/mt during Asian trading hours Tuesday. 
US major economic data from the property market, manufacturing, service sector and CCI will be released today. Should these economic indicators turn out to be positive, the US dollar index will gain ground and in turn weigh down base metals. 
Conference Board’s CCI is expected to weaken in July. Both IBD’s and University of Michigan’s July CCI fell short of market expectations and June’s, boding ill for Conference Board’s CCI. 

BASE METAL LEVELS

CS COPPER (AUGUST) OVERVIEW:

TREND : SIDEWAYS 
RESIST 2:336 
RESIST 1:333 
SUP1:329 
SUP2:326 

CS NICKEL (JULY) OVERVIEW:

TREND : BEARISH 
RESIST 2:715 
RESIST 1:702  
SUP1:687 
SUP2:681 

CS ZINC (JULY) OVERVIEW:

TREND : BEARISH 
RESIST 2:153.20 
RESIST 1:152.50  
SUP1:149.50 

SUP2:148.50 

CS LEAD (JULY) OVERVIEW: 

TREND : SIDEWAYS 
RESIST 2:126.00 
RESIST 1:125.00 
SUP1:122.80 
SUP2:122.00 

CS ALUMINIUM (JULY) OVERVIEW: 

TREND : BULLISH 
RESIST 2:109.00 
RESIST 1:108.50 
SUP1:106.80 
SUP2:106.30  

ENERGIES:- 

Crude oil prices held gains in Asia on Tuesday with investors cautious after bearish supply forecasts unsettled the market overnight and ahead of industry estimates on U.S. stockpiles. 
The American Petroleum Institute will release its estimates of U.S. crude and refined stockpiles late Tuesday, with the U.S. Department of Energy to release its own more closely-watched figures on Wednesday. 
Over the weekend, analysts from Morgan Stanley issued stark warnings on continued oversupply among refined products, as gasoline stocks swelled to a five-year high. 
Highlights 

ENERGY LEVELS

CS CRUDE OIL (AUGUST) OVERVIEW:                           

TREND :BEARISH 
RESIST 2:3010 
RESIST 1:2975 
SUP1:2900 
SUP2:2850 

CS NATURAL GAS (AUGUST) OVERVIEW: 

TREND : BEARISH 
RESIST 2:190 
RESIST 1:187  
SUP1:178 
SUP2:176

 CAPITALSTARS