MCX COMMODITY MARKET NEWS & LEVELS - 21 APR 2017

Yukon Gearing Up For another Gold Rush as Majors Stake Their Claims. 
More than 100 years after the original gold rush that put the Yukon on the map, Canada’s western territory is gearing up for what some are expecting will be another important era in the region’s gold production. It has been almost a year since Goldcorp stepped into the Yukon, purchasing Kaminak Gold for more than $500 million. Since then two other majors have staked a claim in the territory in December. Agnico Eagle invested more than $14.5 million for a 20% stake in White Gold Corp., which has one of the largest exploration land packages in the Yukon. Finally, last month Newmont Mining announced it would spend $39.5 million to explore and develop Gold strike’s Plateau property.
According to Yukon mining executives, the growing interest from major mining companies has created renewed excitement to develop the region’s resource and many of them are capitalizing on this newfound interest.

Chalco Hikes Aluminum Prices Sharply in Major Markets on Apr. 21. 
China Aluminum International Trading Co. (Chalco Trading) raised aluminum prices it offered in major markets notably today after big cuts yesterday, it said on its WeChat.              
Freeport Indonesia Workers Plan Month-Long Strike, SMM Reports.  Freeport McMoran Inc Indonesia workers plan to launch a month-long strike against layoff from May 1, as the company slashed production in the time of a contract dispute with Indonesian government, according to foreign media. 

Oil prices set for biggest weekly drop in a month.  
Oil traded steady on Friday, though it was set for its biggest weekly drop in about a month over doubts that an OPEC-led production cut will restore balance to a market that has been dogged by oversupply for more than two years. Reuters' technical analyst Wang Tao said that WTI had support just above $50 per barrel, while Brent had support around $52.55. stable prices on Friday followed a more-than-3.5 percent fall in both benchmarks earlier this week as doubts emerged over the effect of an effort led by the OPEC to cut production by almost 1.8 million barrels per day (bpd) during the first half of the year.
The chief executive of France's oil major warned this week that prices could fall further due to rising U.S. production.

Precious Levels
CS GOLD (JUNE) OVERVIEW: 
TREND : BULLISH
RESIST 2: 29550
RESIST 1: 29400
SUP 1: 29100
SUP 2: 29000

CS SILVER (MAY) OVERVIEW: 
TREND : BEARISH
RESIST 2: 42300
RESIST 1: 41800
SUP1: 41000
SUP2: 40700

Base Metal Levels
CS COPPER (APRIL) OVERVIEW: 
TREND : BULLISH
RESIST 2:375
RESIST 1:370
SUP1:360
SUP2:356

CS NICKEL (APRIL) OVERVIEW: 
TREND : BEARISH
RESIST 2:635
RESIST 1:625
SUP1:600
SUP2:590

CS ZINC (APRIL) OVERVIEW: 
TREND : BULLISH
RESIST 2:175.50
RESIST 1:173.00
SUP1:165.00
SUP2:163.00

CS LEAD (APRIL) OVERVIEW: 
TREND : BEARISH
RESIST 2: 144.00
RESIST 1: 142.50
SUP1: 137.00
SUP2: 135.00

CS ALUMINIUM (APRIL) OVERVIEW: 
TREND : BULLISH
RESIST 2: 129.50
RESIST 1: 128.00
SUP1: 123.00
SUP2: 122.00

Energy Levels
CS CRUDE OIL (MAY) OVERVIEW: 
TREND : BEARISH
RESIST 2:3420
RESIST 1:3380
SUP1:3250
SUP2:3200

CS NATURAL GAS (APRIL) OVERVIEW: 
TREND : SIDEWAYS
RESIST 2:214.00
RESIST 1:210.00
SUP1:203.00
SUP2:200.00
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