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What Next ???  -Feb 18th, 2012
 

Gold: 23 responded this week, 16 see prices up, while 3 see prices down, and 4 see prices unchanged. Market participants who see higher prices next week said that Gold in the higher end of the $1,767 levels.

Silver: Silver Prices remain volatile, but the tone toward the metal remains down, especially Trading range will be between $30.20-$36.88

Crude: 14 of 20 analysts, forecast Crude Oil will rise in next week. 2 respondents predicted that futures will be little changed and 4 said the contract will fall.

Copper: 13 of 20 analysts, investors and traders surveyed, said the metal will fall next week. Copper may rise in next week up to 389-437.


MCX Gold APR: Now support for the Gold is seen at 27922 and below could see a test of 27856-27489 Resistance is now likely to be seen at 28195 a move above could see prices testing 28350-28612.

S1:27922 S2:27856 S3:27489
R1:28195 R2:28350 R3:28612

MCX Silver MAR: Now support for the silver is seen at 55400 and below could see a test of 54350-51385 Resistance is now likely to be seen at 57152 a move above could see prices testing 57954-59890.

S1:55400 S2:54350 S3:51385
R1:57152 R2:57954 R3:59890


MCX Crude Oil FEB: Now support for the Crude is seen at 5000 and below could see a test of 4801. Resistance is now likely to be seen at 5140, a move above could see prices testing 5265-5389

S1:5000 S2:4930 S3:4801
R1:5140 R2:5265 R3:5389


MCX Copper FEB: Now support for the Copper is seen at 401.20 and below could see a test of 494.55-382.70. Resistance is now likely to be seen at 412.85, a move above could see prices testing 420.40-433.55

S1:401.20 S2:394.55 S3:382.70
R1:412.85 R2:420.40 R3:433.55


MCX Zinc FEB:
Now support for the Zinc is seen at 94.35 and below could see a test of 92.00-88.75. Resistance is now likely to be seen at 99.90, a move above could see prices testing 102.85-104.85

S1:94.35   S2:92.00   S3:88.75
R1:99.90   R2:102.85  R3:104.85

 


  FEB
22nd:
  Existing Home Sales:
  Previous: 4.61M Forecast: 4.67M
  Actual > Forecast = Good for Dollar

 

  
    FEB 22nd:
 Crude Oil Inventories:
 Previous: -0.2M Forecast: 0.5M
 


    FEB
23rd:
    Unemployment Claims:
   Previous: 348K Forecast: 345K
   Actual < Forecast = Good for Dollar
 

   FEB 24th:
   New Home Sales:
   Previous: 307K Forecast: 316K
   Actual > Forecast = Good for Dollar