CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 :: MCX CRUDE OIL

Crude oil futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity amid hopes that a pickup in the world’s biggest economy, the US, may bolster the demand for the fuel. The International Monetary Fund (IMF) said that the US economic growth is likely to accelerate in the coming months while Asian economies may avoid a hard landing. However, easing supply concerns over the fuel amid a resumption of Libyan exports and tempering fears of a disruption to Iraqi oil shipments as the country’s oil-rich region remains safe from violence curbed gains in the fuel. 

At the MCX, Crude Oil futures, for the July 2014 contract, is trading at Rs 6,235 per barrel, up by 0.21 per cent, after opening at Rs 6,235, against a previous close of Rs 6,222. It touched an intra-day high of Rs 6,248.

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CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 : MCX GOLD

Gold futures fell in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market amid concerns that the US Federal Reserve may start tightening monetary policy as the world’s biggest economy improves, dimming the appeal of the bullion as a store of value. 

Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,464 per 10 grams, down by 0.34 per cent, after opening at Rs. 27,482, against the previous closing price of Rs 27,557. It touched an intra-day low of Rs 27,452.

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CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 : MCX SILVER

Silver futures closed higher in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal amid a pickup in physical demand for silver in the domestic spot market. However, speculation that the US Federal Reserve may tighten monetary policy by raising interest rates sooner than earlier expected dimmed the precious metal’s appeal as a store of value, trimming gains in silver futures. The US economy added close to 300K jobs last month as the jobless rate declined more than expected, signaling a pickup in the country’s labour market. 

At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 44,412 per kg, up by 0.27 per cent, after opening at Rs. 44,490, against the previous closing price of Rs 44,291. It touched an intra-day high of Rs 44,750.

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CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 : MCX NATURAL GAS

Natural Gas futures ended higher in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity as outlook for mostly warm weather in many US regions in the coming weeks bolstered the demand outlook for the fuel which is used for firing –up air conditioners. NatGasWeather.com predicted warm temperatures in the western and southern US in the coming days, boosting cooling demand. 

At the MCX, Natural gas futures for July 2014 contract closed at Rs. 262.20 per mmBtu, up by 0.23 per cent, after opening at Rs 262.20, against the previous closing price of Rs 261.60. It touched an intra-day high of Rs 263.20.

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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 4 JULY 2014

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27200 S2-26900
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-48000 R1-46500 S1-43500 S2-42000
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6350 R1-6280 S1-6150 S2-6080

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-444 R1-438 S1-428 S2-422
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-134 R1-132 S1-128 S2-126
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-138 R1-136 S1-132 S2-130
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1210 R1-1195 S1-1165 S2-1150
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CAPITAL STROKE COMMODITY UPDATE 4 JULY 2014 : MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27200 S2-26900 .Gold slipped after U.S. nonfarm payrolls rose more than expected in June, fueling expectations U.S. interest rates could rise earlier than expected.U.S. employment growth jumped in June and the jobless rate closed in on a six-year lowChinese gold imports could fall by up to 400 tonnes this year as the government tightens controls on gold financing deals. For more details visit : http://capitalstroke.com/ or call us at : 9770570009

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CAPITAL STROKE COMMODITY UPDATE 4 JULY 2014 : MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-48000 R1-46500 S1-43500 S2-42000 .Silver dropped after robust U.S. jobs data fueled demand for the dollar, which tends to trade inversely with the precious metals.ECB President reiterated the bank’s forward guidance that rates will remain on hold at present or lower levels for an extended period.Fed policymakers have in the past promised to keep rates near zero until U.S. unemployment falls below 5.5 percent. For more details visit : http://capitalstroke.com/ or call us at : 9770570009

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CAPITAL STROKE COMMODITY UPDATE 4 JULY 2014 :: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6350 R1-6280 S1-6150 S2-6080 .Crude oil dropped as supply fears began to ease after Libya declared an end to an oil crisis that has slashed exports from the OPEC member.Libya's government said it had reached a deal with a rebel leader controlling oil ports involving the handover of the last two terminals.In Iraq production fell by about 170,000 bpd in June, with southern exports affected by technical issues. For more details visit : http://capitalstroke.com/ or call us at : 9770570009

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CAPITAL STROKE COMMODITY UPDATE 4 JULY 2014 : MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-138 R1-136 S1-132 S2-130
Zinc dropped on profit booking after prices touched a near three-year peak, with fund buying lifting the sector as the demand outlook brightens.
Prices seen supported lifted by expectations that mine closures and declining ore grades would lead to shortages in the market.
LME stocks of special high-grade zinc in the US totaled 729,275 metric tons, falling by nearly 17% from 874,350 metric tons in March 2013. For more details visit : http://capitalstroke.com/ or call us at : 9770570009

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CAPITAL STROKE COMMODITY UPDATE 4 JULY 2014 :: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-444 R1-438 S1-428 S2-422 .Copper gained on fund buying after strong U.S. jobs data boosted hopes that economic recovery would spur demand. Employment growth jumped in June while the jobless rate closed in on a six-year low, showing the U.S. economy was rebounding. ECB Draghi stated in a press conference that the central bank will maintain current interest rates for an extended period of time. For more details visit : http://capitalstroke.com/ or call us at : 9770570009

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