What Next ??? - April 17, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

25 responded this week, 15 see prices up, while 10 see prices down, and 0 see prices unchanged. especially Trading range will be between $1748-$1802 levels.

S1:1770.45 S2:1762 S3:1748.45
R1:1783.50 R2:1796 R3:1802.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $24.82-$27.57 levels.

S1:25.81 S2:25.23 S3:24.82
R1:26.37 R2:26.69 R3:27.57

Crude :  

6 of 15 analysts, forecast Crude Oil will fall in next week. 1 respondents predicted that futures will be little changed and 8 said the contract will rise.

S1:62.04 S2:61.01 S3:58.23
R1:64.22 R2:65.63 R3:67.04

Copper :  

7 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 4 see prices unchanged. Copper may trade in next week up to 662.70-738.50 levels.

MCX Gold JUN :  

Now support for the Gold is seen at 47111 and below could see a test of 46452-45963 Resistance is now likely to be seen at 47589 a move above could see prices testing 47844-48085.

S1:47111 S2:46452 S3:45963
R1:47589 R2:47844 R3:48085

MCX Silver MAY :  

Now support for the silver is seen at 68012 and below could see a test of 67149-65450 Resistance is now likely to be seen at 69285 a move above could see prices testing 69957-70545.

S1:68012 S2:67149 S3:65450
R1:69285 R2:69957 R3:70545

MCX Crude Oil APR :  

Now support for the Crude is seen at 4650 and below could see a test of 4384. Resistance is now likely to be seen at 4785, a move above could see prices testing 4861-4936.

S1:4650 S2:4572 S3:4384
R1:4785 R2:4861 R3:4936

MCX Copper APR :  

Now support for Copper is seen at 692.50 and below could see a test of 678.55-664.70. Resistance is now likely to be seen at 713.85, a move above could see prices testing 722.40-734.55

S1:692.50 S2:678.55 S3:664.70
R1:713.85 R2:722.40 R3:734.55

MCX Nickel APR :  

Now support for the Nickel is seen at 1181.65 and below could see a test of 1140.80-1086.25 Resistance is now likely to be seen at 1229.20, a move above could see prices testing 1248.95-1284

S1:1181.65 S2:1140.80 S3:1086.25
R1:1229.20 R2:1248.95 R3:1284

MCX NG APR :  

Now support for the Natural Gas is seen at 196.75 and below could see a test of 189.80-178.25. Resistance is now likely to be seen at 207.70, a move above could see prices testing 213.95-221.80

S1:196.75 S2:189.80 S3:178.25
R1:207.70 R2:213.95 R3:221.80

APR 21st :

Crude Oil Inventories:
Previous: -5.9M Forecast: -2.5M

APR 22nd :

Unemployment Claims :
Previous: 576K Forecast: 635K
Actual < Forecast is good for Dollar

APR 22nd :

Existing Home Sales:
Previous: 6.22M Forecast: 6.20M
Actual > Forecast is good for Dollar

APR 23rd :

Flash Manufacturing PMI :
Previous: 59.1 Forecast: 60.6
Actual > Forecast is good for Dollar

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