DAILY MCX COMMODITY MARKET NEWS & LEVELS - 04 OCT 2016

HIGH LIGHTS:-

• NYMEX, Brent weaker in Asia as investors await U.S. supply figures.
• Gold prices edge up in Asia in thin trade with U.S. jobs in focus.
• Financial markets in Shanghai will be closed for a national holiday for whole week.

PRECIOUS METALS:- 

Gold prices gained on Tuesday in Asia in thin trade with most attention squarely on U.S. jobs data at the end of the week for a better view of chances the U.S. Federal Reserve will hike rates before the end of the year. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 0.13% to $1,314.45 a troy ounce. Silver futures for December delivery on the Comex gained 0.16% to $18.898 a troy ounce. Markets in China are shut for a week-long holiday. Overnight, gold prices were little changed near two-week lows on Monday, as market sentiment remained supported as concerns over Deutsche Bank’s health continued to ease. PRECIOUS LEVEL

CS GOLD (DEC) OVERVIEW:

TREND : BEARISH
RESIST 2: 31100
RESIST 1: 30960
SUP 1: 30670
SUP 2: 30350

CS SILVER (DECEMBER) OVERVIEW:

TREND : BEARISH
RESIST 2: 45650
RESIST 1: 45340
SUP1: 44440
SUP2: 43860

BASE METALS:-

LME Copper prices fell 0.9 percent yesterday to $4819/tonne as localgovernments in China announced a flurry of property market coolingmeasures over the weekend, seeking to douse fears about a realestate bubble. Four Chinese cities starting with capital city Beijing onFriday, tightened rules for home purchases, which increased thedown payment required on real estate purchases.
Also, Japan's Pan Pacific Copper (PPC) plans to produce 283,700tones’ of refined copper in October-March, the second half of itsfinancial year, up 17.5 percent from the same period the year beforewhen output was reduced due to system troubles.MCX copper prices traded lower by 1.2 percent to close at Rs.324.8per kg on Monday. 

BASE METAL LEVELS

CS COPPER (NOVEMBER) OVERVIEW:

TREND :SIDEWAYS
RESIST 2:330
RESIST 1:327
SUP1:322
SUP2:318

CS NICKEL (OCT) OVERVIEW:

TREND :BEARISH
RESIST 2:705
RESIST 1:695
SUP1:678
SUP2:670

CS ZINC (OCT) OVERVIEW:

TREND : BULLISH
RESIST 2:162.50
RESIST 1:161.50
SUP1:159.20
SUP2:157.80

CS LEAD (OCT) OVERVIEW: 

TREND : SIDEWAYS
RESIST 2:142.50
RESIST 1:141.50
SUP1:138.20
SUP2:137.30

CS ALUMINIUM (OCT) OVERVIEW: 

TREND : BULLISH
RESIST 2:113.00
RESIST 1:112.20
SUP1:110.20
SUP2:109.70

ENERGIES:- 

Crude priced dropped further in Asia on Tuesday as investors awaited more supply news from the key U.S. market and in thin dealing with markets in China shut for a week-long holiday.
On the New York Mercantile Exchange U.S. crude futures for November delivery eased 0.51% to $48.56 a barrel.The American Petroleum Institute will releases its estimates of refined product and crude oil inventories at the end of last week later on Tuesday. The figures are followed Wednesday by more closely-watched official data from the U.S. Department of Energyslightly dented by a Reuter’s survey Friday, showing that despite agreeing to cut production OPEC pumped crude in record amounts through September.

ENERGY LEVELS
CS CRUDE OIL (OCTOBER) OVERVIEW:                           

TREND :BULLISH
RESIST 2:3330
RESIST 1:3300
SUP1:3190
SUP2:3150

CS NATURAL GAS (OCTOBER) OVERVIEW: 

TREND :BEARISH
RESIST 2:198.00
RESIST 1:196.00
SUP1:190.00
SUP2:188.00

 CAPITALSTARS

             CLICK HERE FOR DETAILS - http://blog.capitalstars.com/