What Next ??? - April 20, 2019

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory

Gold prices could fall to $1270 to $1255 and Silver upto $14.77 to $14.26
-PrataP Kolagatla, Managing Director, sQuareindia Advisory


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Gold :  

15 responded this week, 5 see prices up, while 6 see prices down, and 4 see prices unchanged. especially Trading range will be between $1254-$1,301 levels.

S1:1272.45 S2:1265 S3:1254.45
R1:1286.50 R2:1293 R3:1301

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $14.28-$15.77 levels.

S1:14.75 S2:14.53 S3:14.28
R1:15.16 R2:15.39 R3:15.77

Crude :  

5 of 15 analysts, forecast Crude Oil will fall in next week. 1 respondents predicted that futures will be little changed and 9 said the contract will rise.

S1:64.14 S2:63.01 S3:61.73
R1:65.62 R2:67.13 R3:68.34

Copper :  

7 of 17 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 1 see prices unchanged. Copper may trade in next week up to 422.70-467.50 levels.

MCX Gold JUN :  

Now support for the Gold is seen at 31221 and below could see a test of 31092-30763 Resistance is now likely to be seen at 31499 a move above could see prices testing 31644-31985.

S1:31221 S2:31092 S3:30763
R1:31499 R2:31644 R3:31985

MCX Silver MAY :  

Now support for the silver is seen at 36812 and below could see a test of 36149-35250 Resistance is now likely to be seen at 37985 a move above could see prices testing 38457-39045.

S1:36812 S2:36149 S3:35250
R1:37985 R2:38457 R3:39045

MCX Crude Oil APR :  

Now support for the Crude is seen at 4411 and below could see a test of 4181. Resistance is now likely to be seen at 4515, a move above could see prices testing 4581-4716.

S1:4411 S2:4322 S3:4181
R1:4515 R2:4581 R3:4716

MCX Copper APR :  

Now support for Copper is seen at 442.50 and below could see a test of 435.55-427.70. Resistance is now likely to be seen at 452.85, a move above could see prices testing 460.40-469.55

S1:442.50 S2:435.55 S3:427.70
R1:452.85 R2:460.40 R3:469.55

MCX Zinc APR :  

Now support for the Zinc is seen at 223.35 and below could see a test of 220.20-216.15. Resistance is now likely to be seen at 228.50, a move above could see prices testing 232.95-237.90

S1:223.35 S2:220.20 S3:216.15
R1:228.50 R2:232.95 R3:237.90

MCX Lead APR :  

Now support for the Lead is seen at 131.65 and below could see a test of 127.80-121.25. Resistance is now likely to be seen at 137.55, a move above could see prices testing 141.70-146.80

S1:131.65 S2:127.80 S3:121.25
R1:137.55 R2:141.70 R3:146.80

MCX Nickel APR :  

Now support for the Nickel is seen at 862.65 and below could see a test of 847.80-823.25 Resistance is now likely to be seen at 889.20, a move above could see prices testing 900.95-921.20

S1:862.65 S2:847.80 S3:823.25
R1:889.20 R2:900.95 R3:921.20

MCX NG APR :  

Now support for the Natural Gas is seen at 168.75 and below could see a test of 163.80-157.25. Resistance is now likely to be seen at 178.70, a move above could see prices testing 183.95-190.80

S1:168.75 S2:163.80 S3:157.25
R1:178.70 R2:183.95 R3:190.80

APR 22nd :

Existing Home Sales :
Previous: 5.51M Forecast: 5.31M
Actual > Forecast is good for Dollar

APR 25th :

Core Durable Goods Orders m/m :
Previous: -0.1% Forecast: 0.2%
Actual > Forecast is good for Dollar

APR 26th :

Advance GDP q/q :
Previous: 2.2% Forecast: 2.2%
Actual > Forecast is good for Dollar

APR 26th :

Advance GDP Price Index q/q :
Previous: 1.8% Forecast: 1.3%
Actual > Forecast is good for Dollar

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