CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 23 MAY 2014

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-418 R1-412 S1-404 S2-398
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-127 R1-125 S1-121 S2-119
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-119.5 S2-118
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1180 R1-1165 S1-1135 S2-1120
CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-27800 R1-27500 S1-27000 S2-26700
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6200 R1-6140 S1-6030 S2-5950


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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014: MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-27800 R1-27500 S1-27000 S2-26700 
Gold dropped nearly Rs.1000 in 2 session to hit ten-month low after the Reserve Bank eased import norms.
Comex Gold steady near to $1300 as support seen after Fed's latest policy meeting suggested not to raise interest rates soon.
SPDR Gold Trust said its holdings fell 3.3 tonnes to 776.89 tonnes on Wednesday - the lowest since December 2008.

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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014: MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
Silver prices seen supported after the U.S. Federal Reserve indicated no intention to raise interest rates soon.
Fes’s minutes revealed U.S. central bank plans to continue tapering its monthly bond-buying program and rely on other tools to normalize monetary policy.
Holdings at ishares silver trust dropped by 0.35% i.e. 35.86 tonnes to 10284.40 tonnes from 10320.26 tonnes.

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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014:: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-418 R1-412 S1-404 S2-398 
Copper recovered from lows to settle flat as investors cheered better than expected manufacturing data out of China.
The ICSG estimates that from Jan to Feb, world copper markets have moved from a surplus of 105kt in 2013 to a deficit of 128kt in 2014.
In euro zone, data showed that manufacturing activity in the single currency bloc expanded at the slowest rate in six months in May.


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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014:: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6200 R1-6140 S1-6030 S2-5950
Crude oil dropped as investors took profit on a rally that was driven by ongoing violence in Libya and positive economic data in China and the United States.
The oil market has also been supported by the conflict in Ukraine - a main gas supply route for Europe from Russia.
The ongoing conflict in Libya underpinned prices as the OPEC member's major western oilfields were still closed.


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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014:: MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-119.5 S2-118
Zinc ended with losses as firmness in rupee weighed despite both China's and US manufacturing data in May topped expectations.
In US, the preliminary Markit manufacturing PMI rose to 56.2 in May, while the existing home sales for April grew for the first time this year to 4.65 million.

China Zinc Demand Growth to Slow to 3% in 2014.

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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014: : MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1180 R1-1165 S1-1135 S2-1120
Nickel gained tracking firmness in LME nickel prices as upbeat US PMI and home sales data drove up nickel prices.
HSBC's May PMI for China was 49.7, but topped expectations, a signal that China's manufacturing is improving.

The US existing home sales for April were slightly lower than forecast, but improving regional manufacturing data too supported.

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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014: MCX NATURAL GAS

Natural gas trading range for the day is 248-266.8.
Natural gas prices fell after a weekly U.S. supply report revealed that inventories rose more than expected last week.
The U.S. EIA said in its weekly report that natural gas storage in the U.S. rose by 106 billion cubic feet.

Weather forecast called for mild springtime temperatures in the coming days, which was seen lowering demand for heating.

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CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014 MCX ALUMINUM

Aluminium trading range for the day is 101.1-103.9.
Aluminium prices gained boosted by the higher-than-expected HSBC China manufacturing PMI for May.
In the euro zone, France’s flash manufacturing PMI dropped to 49.3 in May, the first fall in last three months.

Disappointing US initial jobless claims were overshadowed by upbeat manufacturing PMIs out of China and the US and rising existing home sales in the US.

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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014: : MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1165 R1-1150 S1-1125 S2-1110
Nickel dropped on profit booking and extended weakness amid a weak trend in global markets and subdued demand
High nickel stocks unlikely to bring rally to an end

London Metal Exchange nickel inventories have increased 7 percent since Jan. 12, when Jakarta slapped on the ban.

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