What Next ??? - June 16, 2018

Jyothi Rao Anadula Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could fall to $1271 to $1253 and Silver upto $16.16 to $15.62" -PrataP Kolagatla, Chairman, sQuareindia Qi Group


Gold :

16 responded this week, 7 see prices up, while 8 see prices down, and 1 see prices unchanged. especially Trading range will be between $1252-$1,317 levels.

S1:1274.45 S2:1265 S3:1252.45
R1:1296.50 R2:1305 R3:1317.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $15.82-$17.26 levels.

S1:16.30 S2:16.03 S3:15.82
R1:16.74 R2:16.98 R3:17.26

Crude :

8 of 15 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 4 said the contract will rise.

S1:63.44 S2:62.21 S3:59.63
R1:65.82 R2:67.13 R3:69.94

Copper :

7 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 8 see prices rise, and 0 see prices unchanged. Copper may trade in next week up to 452.70-492.50 levels.

MCX Gold AUG :

Now support for the Gold is seen at 30851 and below could see a test of 30582-30163 Resistance is now likely to be seen at 31189 a move above could see prices testing 31384-31585.

S1:30851 S2:30582 S3:30163
R1:31189 R2:31384 R3:31585

MCX Silver JUL :

Now support for the silver is seen at 39512 and below could see a test of 38949-38050 Resistance is now likely to be seen at 40685 a move above could see prices testing 41357-41845.

S1:39512 S2:38949 S3:38050
R1:40685 R2:41357 R3:41845

MCX Crude Oil JUN :

Now support for the Crude is seen at 4324 and below could see a test of 4038. Resistance is now likely to be seen at 4540, a move above could see prices testing 4671-4815.

S1:4324 S2:4222 S3:4038
R1:4540 R2:4671 R3:4815

MCX Copper JUN :

Now support for Copper is seen at 465.50 and below could see a test of 460.55-451.70. Resistance is now likely to be seen at 478.85, a move above could see prices testing 483.40-490.55

S1:465.50 S2:460.55 S3:451.70
R1:478.85 R2:483.40 R3:490.55

MCX Zinc JUN :

Now support for the Zinc is seen at 208.35 and below could see a test of 205.20-200.15. Resistance is now likely to be seen at 213.50, a move above could see prices testing 217.95-220.90

S1:208.35 S2:205.20 S3:200.15
R1:213.50 R2:217.95 R3:220.90

MCX Lead JUN :

Now support for the Lead is seen at 161.65 and below could see a test of 158.80-154.25. Resistance is now likely to be seen at 166.55, a move above could see prices testing 169.70-171.80

S1:161.65 S2:158.80 S3:154.25
R1:166.55 R2:169.70 R3:171.80

MCX Nickel JUN :

Now support for the Nickel is seen at 1004.65 and below could see a test of 981.80-942.25 Resistance is now likely to be seen at 1054.20, a move above could see prices testing 1088.95-1111.20

S1:1004.65 S2:981.80 S3:942.25
R1:1054.20 R2:1088.95 R3:1111.20

MCX NG JUN :

Now support for the Natural Gas is seen at 201.65 and below could see a test of 197.80-192.25. Resistance is now likely to be seen at 209.70, a move above could see prices testing 214.95-221.80

S1:201.65 S2:197.80 S3:192.25
R1:209.70 R2:214.95 R3:221.80

JUN 19th :

Building Permits :
Actual: 1.36M Forecast: 1.35M
Actual > Forecast is good for Dollar

JUN 20th :

Existing Home Sales :
Previous: 5.46M  Forecast: 5.55M
Actual > Forecast is good for  Dollar

JUN 20th :

Crude Oil Inventories :
Previous: -4.1M Forecast: -2.5M

JUN 21st :

Unemployment Claims :
Previous: 218K Forecast : 220K
Actual < Forecast is good for Dollar