What Next ??? - December 8, 2018

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could rise to $1265 to $1274 and Silver upto $15.03 to $15.56" -PrataP Kolagatla, Managing Director, sQuareindia Advisory Private Limited


Gold :

14 responded this week, 8 see prices up, while 3 see prices down, and 3 see prices unchanged. especially Trading range will be between $1220-$1,277 levels.

S1:1245.45 S2:1232 S3:1220.45
R1:1261.50 R2:1268 R3:1277.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $13.58-$15.74 levels.

S1:14.31 S2:13.93 S3:13.58
R1:14.95 R2:15.20 R3:15.74

Crude :

10 of 15 analysts, forecast Crude Oil will fall in next week. 2 respondents predicted that futures will be little changed and 3 said the contract will rise.

S1:51.14 S2:50.31 S3:48.73
R1:53.22 R2:54.03 R3:56.34

Copper :

9 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 4 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 415.70-452.50 levels.

MCX Gold FEB :

Now support for the Gold is seen at 31321 and below could see a test of 31092-30863 Resistance is now likely to be seen at 31789 a move above could see prices testing 31944-32185.

S1:31321 S2:31092 S3:30863
R1:31789 R2:31944 R3:32185

MCX Silver MAR :

Now support for the silver is seen at 37412 and below could see a test of 36749-35550 Resistance is now likely to be seen at 38485 a move above could see prices testing 38957-39545.

S1:37412 S2:36749 S3:35550
R1:38485 R2:38957 R3:39545

MCX Crude Oil DEC :

Now support for the Crude is seen at 3751 and below could see a test of 3438. Resistance is now likely to be seen at 3955, a move above could see prices testing 4051-4185.

S1:3751 S2:3612 S3:3438
R1:3955 R2:4051 R3:4185

MCX Copper DEC :

Now support for Copper is seen at 432.50 and below could see a test of 424.55-415.70. Resistance is now likely to be seen at 443.85, a move above could see prices testing 449.40-457.55

S1:432.50 S2:424.55 S3:415.70
R1:443.85 R2:449.40 R3:457.55

MCX Zinc DEC :

Now support for the Zinc is seen at 182.35 and below could see a test of 175.20-168.15. Resistance is now likely to be seen at 192.50, a move above could see prices testing 196.95-202.90

S1:182.35 S2:175.20 S3:168.15
R1:192.50 R2:196.95 R3:202.90

MCX Lead DEC :

Now support for the Lead is seen at 137.65 and below could see a test of 132.80-126.25. Resistance is now likely to be seen at 145.55, a move above could see prices testing 149.70-154.80

S1:137.65 S2:132.80 S3:126.25
R1:145.55 R2:149.70 R3:154.80

MCX Nickel DEC :

Now support for the Nickel is seen at 760.65 and below could see a test of 741.80-712.25 Resistance is now likely to be seen at 802.20, a move above could see prices testing 818.95-828.20

S1:760.65 S2:741.80 S3:712.25
R1:802.20 R2:818.95 R3:828.20

MCX NG DEC :

Now support for the Natural Gas is seen at 317.65 and below could see a test of 308.80-297.25. Resistance is now likely to be seen at 328.70, a move above could see prices testing 334.95-339.80

S1:317.65 S2:308.80 S3:297.25
R1:328.70 R2:334.95 R3:339.80

DEC 14th :

Retail Sales m/m :
Actual: 0.8% Forecast: 0.1%
Actual > Forecast is good for Dollar

DEC 14th :

Core Retail Sales m/m :
Previous: 0.7%  Forecast: 0.2%
Actual > Forecast is good for Dollar

DEC 7th :

Average Hourly Earnings m/m :
Previous: 0.2% Forecast: 0.3%
Actual > Forecast is good for Dollar

DEC 7th :

Non-Farm Employment Change:
Previous: 250K Forecast : 20K
Actual > Forecast is good for Dollar