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Gold:
Ten of 26 traders, investors and analysts surveyed said bullion
would rise next week. Thirteen forecast lower prices and three
were neutral. Gold may turn down to $1085-$1065 in 1st session
of next week, and take a up move in 2nd session up to $1100+.
Silver:
Silver is
substantially higher. We expect more volatility in Silver than
Gold. Silver support is at $16.48 and $16.17, with resistance at
$17.46 and $18.01.
Crude:
Fifteen of 30 analysts said oil will increase through
March. Thirteen more respondents predicted that futures will
decline. Two said there will be little change in prices. Next
week Market will trade in range bound in Crude depending on
Inventory. Around $80 is best buying levels for the Targets of
$85-$87. Some corrections in the Market can be seen to $77-$73.
Copper: Continued strength
in most base metals prices has occurred ahead of improving
fundamentals. Anticipation of an improved international economic
environment is likely to remain a powerful factor limiting any
pull back in the Copper prices to 346.80 levels. But as of now
market is looking for support levels up to 329.25-316.
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MCX Gold APR: Now support for the silver is seen at 26500
and below could see a test of 25810. Resistance is now likely to
be seen at 27835, a move above could see prices testing
27045-27356.
S1:26500 S2:26265 S3:25810
R1:26835 R2:27045 R3:27356
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MCX Crude Oil MAR: Now
support for the Crude is seen at 3653 and below could see a test
of 3418. Resistance is now likely to be seen at 3752, a move
above could see prices testing 3814-3965.
S1:3653 S2:3545 S3:3418
R1:3752 R2:3814 R3:3965 |
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MCX Silver MAY: Now support for the silver is seen at 26675
and below could see a test of 25800. Resistance is now likely to
be seen at 27150, a move above could see prices testing
27475-27925.
S1:26675 S2:26251 S3:25800
R1:27150 R2:27475 R3:27925
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MCX Copper APR: Now
support for the Copper is seen at 336.00 and below could see a
test of 316.70. Resistance is now likely to be seen at 346.80, a
move above could see prices testing 360.00
S1:336.00 S2:329.25 S3:316.70
R1:346.80 R2:352.00 R3:360.00 |
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MCX Zinc MAR: Now support for the Zinc is seen at 105.00 and
below could see a test of 102.55-98.70. Resistance is now likely
to be seen at 108.75, a move above could see prices testing
112.45-115.85.
S1:105.00 S2:102.55 S3:98.70
R1:108.75 R2:112.45 R3:115.85
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26
Analysts Surveyed about Next week Gold Position.
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Profit
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Upcoming
Important Data Reports |
|
MAR 15th:
TIC Long-Term Purchases:
Previous: 63.3B, Forecast: 50.3B
Actual > Forecast = Good for Dollar |
MAR
16th:
Building Permits:
Previous: 0.62M, Forecast: 0.61M
Actual > Forecast = Good for Dollar |
|
MAR
16th:
FOMC Statement:
More hawkish than expected = Good for Dollar |
MAR 16th:
Federal Funds Rate:
Previous: <0.25%, Forecast: <0.25%
Actual > Forecast = Good for Dollar |
|
MAR
17th:
PPI m/m:
Previous: 1.4%, Forecast: -0.2%
Actual > Forecast = Good for Dollar |
MAR 17th:
Crude Oil Inventories:
Previous: 1.4M, Forecast: 2M |
|
MAR 18th:
Core CPI m/m:
Previous: -0.1%, Forecast: 0.1%
Actual > Forecast = Good for Dollar |
MAR 18th:
Unemployment Claims:
Previous: 462K, Forecast: 456K
Actual < Forecast = Good for Dollar |
