MCX COMMODITY MARKET NEWS & LEVELS - 25 JULY 2016

                                                                                  
HIGH LIGHTS:- 

• Base metal prices on the SHFE are expected to come under pressures this week, Shanghai Metals Market foresees.
• NYMEX reverses early gains in Asia, Brent down on supply overhang.
• Gold prices weaker in Asia with BoJ, Fed meets in focus.

PRECIOUS METALS:- 

Gold fell slightly in Asia on Monday with investors ready for central bank meetings this week in the U.S. and Japan.On Wednesday, the Federal Reserve policy latest monetary policy statement will be closely-watched for fresh guidance on the pace of interest rate hikes over the next several months and a monetary policy announcement from the Bank of Japan on Friday, amid growing expectations for further stimulus. Gold for August delivery on the Comex division of the New York Mercantile Exchange fell 0.14% to $1,329.70 a troy ounce.

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: 45500 
SUP2: 44600

BASE METALS:- 

Base metal prices on the SHFE are expected to come under pressures this week, Shanghai Metals Market foresees. LME copper will narrowly range USD 4,900-4,950/mt during Asian trading hours Monday. Price gains in base metals are expected to be constrained this week as crude oil weakened.
The market expects the Fed to delay rake hike tempo to September or December. The Fed will announce its interest rate decision for July this Thursday. The Bank of Japan will also release interest rate decision in July.

BASE METAL LEVELS

CS COPPER (AUGUST) OVERVIEW:

TREND : SIDEWAYS 
RESIST 2:341 
RESIST 1:339 
SUP1:332 
SUP2:329 
CS NICKEL (JULY) OVERVIEW:
TREND : BULLISH 
RESIST 2:729 
RESIST 1:718  
SUP1:696 
SUP2:685 
CS ZINC (JULY) OVERVIEW:
TREND : BULLISH 
RESIST 2:153.70 
RESIST 1:153.00  
SUP1:150.50 
SUP2:149.40 
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 prices inched down on Monday in Asia, staying not far from two-month lows hit in the previous session, amid worries over a global oil glut.
A strong dollar and the fourth weekly rise in the U.S. oil rig count have helped relieve pressure on crude futures. Libya's hopes to boost crude exports have been dealt a blow after the head of the National Oil Corporation (NOC) objected to a deal between the government and local guards to reopen key ports.
Money managers cut their net long U.S. crude futures and options positions to a four-month low in the week to July 19, the U.S. Commodity Futures Trading Commission said on Friday.

ENERGY LEVELS

CS CRUDE OIL (AUGUST) OVERVIEW:                           
TREND :BEARISH 
RESIST 2:3050 
RESIST 1:3010 
SUP1:2950 
SUP2:2900 
CS NATURAL GAS (AUGUST) OVERVIEW: 
TREND : BULLISH 
RESIST 2:193 
RESIST 1:190  
SUP1:178 
SUP2:175

 CAPITALSTARS