What Next ??? - April 25, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 10 see prices up, while 4 see prices down, and 1 see prices unchanged. especially Trading range will be between $1636-$1,827 levels.

S1:1718.45 S2:1677 S3:1636.45
R1:1766.50 R2:1798 R3:1827.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $13.62-$17.57 levels.

S1:14.88 S2:14.33 S3:13.62
R1:15.87 R2:16.69 R3:17.57

Crude :  

7 of 14 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.

S1:14.84 S2:12.01 S3:9.73
R1:19.92 R2:21.13 R3:23.34

Copper :  

6 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 7 see prices rise, and 0 see prices unchanged. Copper may trade in next week up to 361.70-449.50 levels.

MCX Gold JUN :  

Now support for the Gold is seen at 46121 and below could see a test of 45792-45063 Resistance is now likely to be seen at 46889 a move above could see prices testing 47344-47885.

S1:46121 S2:45792 S3:45063
R1:46889 R2:47344 R3:47885

MCX Silver MAY :  

Now support for the silver is seen at 41212 and below could see a test of 40349-39050 Resistance is now likely to be seen at 42885 a move above could see prices testing 43657-45045.

S1:41212 S2:40349 S3:39050
R1:42885 R2:43657 R3:45045

MCX Crude Oil MAY :  

Now support for the Crude is seen at 1253 and below could see a test of 704. Resistance is now likely to be seen at 1435, a move above could see prices testing 1611-1966.

S1:1253 S2:1012 S3:704
R1:1435 R2:1611 R3:1966

MCX Copper MAY :  

Now support for Copper is seen at 395.50 and below could see a test of 386.55-374.70. Resistance is now likely to be seen at 418.85, a move above could see prices testing 424.40-433.55

S1:395.50 S2:386.55 S3:374.70
R1:418.85 R2:424.40 R3:433.55

MCX Nickel MAY :  

Now support for the Nickel is seen at 923.65 and below could see a test of 895.80-881.25 Resistance is now likely to be seen at 964.20, a move above could see prices testing 988.95-1024

S1:923.65 S2:895.80 S3:881.25
R1:964.20 R2:988.95 R3:1024

MCX NG MAY :  

Now support for the Natural Gas is seen at 124.75 and below could see a test of 118.80-107.25. Resistance is now likely to be seen at 139.70, a move above could see prices testing 146.95-154.80

S1:124.75 S2:118.80 S3:107.25
R1:139.70 R2:146.95 R3:154.80

APR 28th :

CB Consumer Confidence :
Previous: 120.0 Actual: 90.1
Actual > Forecast is good for Dollar

APR 29th :

Advance GDP q/q :
Previous: 2.1% Forecast: -3.9%
Actual > Forecast is good for Dollar

APR 29th :

Federal Funds Rate :
Previous: <0.25% Forecast: <0.25%
Actual > Forecast is good for Dollar

APR 30th :

Unemployment Claims :
Previous: 442K Forecast: 3500K
Actual < Forecast is good for Dollar

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