slide 1: CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
09 JANUARY 2017
MCX DAILY NEWS LETTER
Capital Stars Financial Research Pvt. Ltd.
slide 2: Brent NYMEX mixed in Asia as adherence to supply curbs seen on track.
Highlights
Gold prices gain in Asia with Trump Yellen on tap this week.
SHFE Copper to Move in a Tight Range.
PRECIOUS METALS
Gold prices edged higher in Asia on Monday as investors awaited a lineup of Fed speakers this week and
the incoming president to set the tone and markets in Japan shout for a holiday. Gold for February delivery
edged up 0.21 to 1175.85 a troy ounce on the Comex division of the New York Mercantile Exchange.
In the week ahead investors will be looking ahead to U.S. economic reports particularly Friday’s retail
sales figures for December. Investors will also be watching an appearance by Fed Chair Janet Yellen on
Thursday and speeches by a handful of other Fed officials during the week as well as President-elect
Donald Trump on Wednesday for a press conference.
Last week gold prices fell on Friday retreating from the previous sessions one-month highs as the dollar
strengthened against a currency basket after U.S. jobs data showed a slowdown in hiring in December but
a pickup in wage growth.
Gold likely gained support at 1337.50 the low from July 20 and was met with resistance at rate
BASE METALS
LME copper is expected to move at USD 5540-5620mt during Asian trading hours on Monday and SHFE
1703 copper will move at RMB 45100-45900/mt. In China’s domestic market spot copper should trade at
discounts of RMB 120-0/mt on Monday. Germany’s seasonally adjusted and annualized industrial output in
November and trade data China’s informal financing and annualized supply of M0 M1 and M2 in China
and Eurozone January Sentix investor confidence index and November unemployment rate will be released
today. Base metals will remain range-bound today.
Boston Fed Chairman will speak today at the Connecticut annual economic outlook meeting for the
industry and commerce and may give forward guidance to US economic outlook and monetary policy this
year. The US dollar will strengthen weighing on crude oil prices. Oil prices will rebound slightly now that
OPEC countries fulfilled output cut plan.
ENERGIES
Crude prices were mixed in Asia on Monday with investors lauding compliance with a coordinated effort by
OPEC and non-OPEC countries to trim 1.8 million barrels per day bpd from global crude markets but
noting a supply response from U.S. shale drillers and countries outside the pact.
On the New York Mercantile Exchange crude oil for delivery in February fell 0.48 to 53.73 a barrel.
Elsewhere on the ICE Futures Exchange in London Brent oil for March delivery gained 0.12 to settle at 56.90
a barrel by close of trade. In the week ahead investors will be looking ahead to U.S. economic reports
particularly Friday’s retail sales figures for December. Investors will also be watching an appearance by Fed
Chair Janet Yellen on Thursday and speeches by a handful of other Fed officials during the week as well as
President-elect Donald Trump on Wednesday for a press conference.
SEBI Registration Number: INA000001647 MCX Daily News Letter
slide 3: PRECIOUS LEVELS
CS GOLD FEBRUARY OVERVIEW: CS SILVER MARCH OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2: 28200 RESIST 2: 41000
RESIST 1: 28000 RESIST 1: 40600
SUP 1: 27800 SUP1: 39700
SUP 2: 27650 SUP2: 39350
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
BASEMETAL LEVELS
CS COPPER FEBRUARY OVERVIEW: CS NICKEL JANUARY OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2:390 RESIST 2: 722
RESIST 1:388 RESIST 1: 716
SUP1:380 SUP1: 692
SUP2:376 SUP2: 684
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
CS ZINC JANUARY OVERVIEW: CS LEAD JANUARY OVERVIEW:
TREND : BULLISH TREND : BULLISH
RESIST 2:183.00 RESIST 2: 145.00
RESIST 1:182.00 RESIST 1: 143.00
SUP1:175.00 SUP1: 138.00
SUP2:173.00 SUP2: 136.00
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
CS ALUMINIUM JANUARY OVERVIEW:
TREND : BULLISH
RESIST 2: 119.50
RESIST 1: 118.50
SUP1: 116.00
SUP2: 115.00
WWW.CAPITALSTARS.COM +917316790000
ENERGY LEVELS
CS CRUDE OIL JANUARY OVERVIEW: CS NATURAL GAS JANUARY OVERVIEW:
TREND : SIDEWAYS TREND : BULLISH
RESIST 2:3720 RESIST 2:2310.00
RESIST 1:3680 RESIST 1:228.00
SUP1:3600 SUP1:220.00
SUP2:3550 SUP2:216.00
WWW.CAPITALSTARS.COM +917316790000 WWW.CAPITALSTARS.COM +917316790000
SEBI Registration Number: INA000001647 MCX Daily News Letter
slide 4: PICK FOR THE DAY
MCX CRUDE OIL January Friday as seen in the daily chart opened at 3653 levels and
day high of 3700 levels. During this period price corrected made day low of 3635
levels finally closed at 3682 levels. Now there are chances of further upward
movement technically fundamentally.
Investors will also be watching an appearance by Fed Chair Janet Yellen on Thursday and speeches
by a handful of other Fed officials during the week as well as President-elect Donald Trump on
Wednesday for a press conference.
DAILY RECOMMENDATION: BUY MCX CRUDE OIL JANUARY AROUND 3600
LEVELS FOR TARGET OF T1 3700/T2 3750 WITH SL OF 3500 LEVELS.
SEBI Registration Number: INA000001647 MCX Daily News Letter
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SEBI Registration Number: INA000001647 MCX Daily News Letter