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MCX Daily Report 19TH JUNE 2019

News Highlights
BULLION - Gold prices ended higher by 0.53 percent to close at $1346.1 per ounce. Prices
rose over expectations that the US Federal Reserve might trim the interest rates
considering the economic scenario. Even the European central bank might consider
monetary easing which further supported the yellow metal. Markets will have a keen
watch on the Fed’s monetary policy decision which will be announced later in the day.
Hopes over a possible rate cut might support Gold prices. Optimism over a possible trade
deal between US & China might dent the appeal for the bullion metal. President Donald
Trump stated that the U.S. & China will resume with the trade talks before the two
presidents meet at the G20 meet which will be held later this month in Japan. President
trump has confirmed that he will be meeting China’s president Xi Jinping to try and resolve
the prolonged trade spat.

ENERGY- Crude surged by 3.8 percent to close at $53.9 per barrel. Optimism over a
possible trade deal between US and China amid supply disruption worries rising from the
Middle East pushed the prices higher. Investors will have an eye on the G20 summit which
is to be conducted in Japan later this month where U.S. President Donald Trump will likely
meet Chinese President Xi Jinping. The two countries will resume with the trade talks
before the presidents of the two countries meet in Japan. Tension arising from the Middle
East after the last week’s attacks on two oil tankers in the Gulf of Oman further supported
the prices.

BASE METAL - Base metals on the LME ended higher with Lead & Copper being the highest
gainers in the pack. Prices rose over chances of a possible trade deal between US and
China. President trump has confirmed that he will be meeting China’s president Xi Jinping
to try and resolve the prolonged trade spat. He further added that the two countries; U.S.
& China will resume with the trade talks before the two presidents meet at the G20 meet
which will be held later this month in Japan. Optimism over a possible trade deal might
puhs the industrial metal prices higher. Supply curbs have pushed iron ore prices higher. A
sudden decline in supply by one of the top exported Brazil due to mine closure for
inspection which started the deadly landslide which killed over 200 people. The supply
situation further worsened after the tropical cyclone that struck in late March 2019 in
north-western Australia which is the main iron ore producing region.
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MCX Daily Report 19TH JUNE 2019

Precious Metals
CS GOLD (AUG) OVERVIEW: CS SILVER (JUL) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 33400 RESIST 2: 37700
RESIST 1: 33200 RESIST 1: 37500
SUP 1: 32900 SUP 1: 37100
SUP 2: 32700 SUP 2: 36900
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Base Metals
CS COPPER (JUN) OVERVIEW: CS NICKEL (JUN) OVERVIEW:
TREND : BULLISH TREND : SIDEWAYS
RESIST 2: 422.00 RESIST 2: 895.00
RESIST 1: 419.00 RESIST 1: 886.00
SUP 1: 410.00 SUP 1: 866.00
SUP 2: 405.00 SUP 2: 856.00
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CS ZINC (JUN) OVERVIEW: CS LEAD (JUN) OVERVIEW:

TREND : BULLISH TREND : BULLISH
RESIST 2: 211.00 RESIST 2: 158.00
RESIST 1: 209.00 RESIST 1: 157.00
SUP 1: 205.00 SUP 1: 154.00
SUP 2: 203.00 SUP 2: 152.00
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CS ALUMINIUM (JUN) OVERVIEW:

TREND : SIDEWAYS
RESIST 2: 144.00
RESIST 1: 143.00
SUP 1: 142.00
SUP 2: 141.00
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Energy
CS CRUDE OIL (JUN) OVERVIEW: CS NATURAL GAS (JUN) OVERVIEW:
TREND : SIDEWAYS TREND : SIDEWAYS
RESIST 2: 3890 RESIST 2: 170.00
RESIST 1:3800 RESIST 1: 166.00
SUP 1: 3620 SUP 1: 160.00
SUP 2: 3520 SUP 2: 158.00
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MCX Daily Report 19TH JUNE 2019

Pick for the DAY

MCX COPPER JUN on MONDAY as seen in the Daily chart opened at 409.60 levels and made
day low of 408.50 Levels. During this period COPPER JUN High is 417.10 levels and finally
closed at 415.75 levels. Now, there are chances of up movement technically &
fundamentally.

DAILY RECOMMENDATION: BUY MCX COPPER JUN ABOVE 416.95 LEVELS FOR
TARGET OF 420/424 WITH SL 411 OF LEVELS.
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MCX Daily Report 19TH JUNE 2019

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