MCX DAILY COMMODITY NEWS & LEVELS - 18 October 2016

HIGHLITES:

1. LME Copper to Stay Range-Bound Trading.2. Brent, NYMEX gain in Asia ahead of API figures, China data awaited.3. Gold mostly steady in Asia as Fischer comments on rate outlook noted.

PRECIOUS METALS:

Gold prices held mostly steady in Asia on Tuesday with comments from Fed Vice Chair Stanley Fischer noted as saying the central bank is "very close" to job and price targets that should trigger a rate hike.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were little changed at $1,256.75.Elsewhere in metals trading, silver futures for December delivery were up 0.05% at $17.483 a troy ounce.

Gold likely gained support at $1,337.50, the low from July 20 and was met with resistance at $ rate BASE METALS:

LME copper is expected to fluctuate between USD 4,670-4,705/mt during Asian trading hours on Tuesday and SHFE 1612 copper will move at RMB 37,100-37,350/mt. The US dollar index fell overnight, but base metals remained weak, and should diverge at lows today.

US September CPI before seasonally adjusted is expected to improve. Annualized US September PPI was better than expected, with the growth the biggest since December 2014. Core PPI was also in line with market expectations, meaning US inflation is on the rise. US five-year breakeven ratio also expects US consumer goods index will rise at a 1.54% pace, the highest since May.

ENERGIES:

Crude oil prices held gains in Asia on Tuesday with industry data on U.S. inventories ahead expected to set the tone along with China data on growth, retail sales and industrial production due on Wednesday.

The American Petroleum Institute will release its estimates of crude and refined product stockpiles in the U.S. at the end of last week late on Tuesday. The data will be followed on Wednesday with official figures from the U.S. Department of Energy.

Overnight, U.S. oil rose on Monday, and managed to stay above the $50 a barrel threshold as investors continued to eye the details of a planned output cut by the Organization of the Petroleum Exporting Countries

MARKET LEVELS: CS GOLD (DECEMBER) OVERVIEW:TREND : SIDEWAYSRESIST 2: 30100RESIST 1: 29900SUP 1: 29450SUP 2: 29300WWW.CAPITALSTARS.COM +917316790000

CS SILVER (DECEMBER) OVERVIEW:TREND : SIDEWAYSRESIST 2: 43300RESIST 1: 43000SUP1: 41200SUP2: 40900WWW.CAPITALSTARS.COM +917316790000

CS COPPER (NOVEMBER) OVERVIEW:TREND : BEARISHRESIST 2:319RESIST 1:317SUP1:311SUP2:309WWW.CAPITALSTARS.COM +917316790000

CS NICKEL ( OCTOBER ) OVERVIEW:TREND : BEARISHRESIST 2: 702RESIST 1: 695SUP1: 680SUP2: 670WWW.CAPITALSTARS.COM +917316790000

CS CRUDE OIL (OCTOBER) OVERVIEW: TREND : SIDEWAYSRESIST 2:3440RESIST 1:3400SUP1:3300SUP2:3270WWW.CAPITALSTARS.COM +917316790000

CS NATURAL GAS ( OCTOBER ) OVERVIEW:TREND : BEARISHRESIST 2:225.00RESIST 1:222.00SUP1:214.00SUP2:211.00WWW.CAPITALSTARS.COM +917316790000

MCX CRUDE OIL October Monday as seen in the daily chart opened at 3356 levels and day high of 3379 levels. During this period price corrected & made day low of 3306 levels finally closed at 3323 levels. Now, there are chances of further upward movement technically & fundamentally.

• Overnight, U.S. oil rose on Monday, and managed to stay above the $50 a barrel threshold as investors continued to eye the details of a planned output cut by the Organization of the Petroleum Exporting Countries.

DAILY RECOMMENDATION: BUY MCX CRUDE OIL OCTOBER AROUND 3330 LEVELS FOR TARGET OF T1 3430/T2 3480 WITH SL OF 3230 LEVELS.

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