What Next ??? - December 25, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

13 responded this week, 9 see prices up, while 3 see prices down, and 1 see prices unchanged. especially Trading range will be between $1772-$1844 levels.

S1:1803.45 S2:1788 S3:1772.45
R1:1818.50 R2:1832 R3:1844.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $21.62-$24.15 levels.

S1:22.61 S2:22.33 S3:21.62
R1:23.37 R2:23.69 R3:24.15

Crude :  

14 of 20 analysts, forecast Crude Oil will fall in next week. 1 respondents predicted that futures will be little changed and 5 said the contract will rise.

S1:72.24 S2:71.01 S3:69.83
R1:74.82 R2:75.63 R3:76.04

Copper :  

8 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 10 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 745.70-784.50 levels.

MCX Gold FEB :  

Now support for the Gold is seen at 47911 and below could see a test of 47652-47363 Resistance is now likely to be seen at 48289 a move above could see prices testing 48844-49385.

S1:47911 S2:47652 S3:47363
R1:48289 R2:48844 R3:49385

MCX Silver MAR :  

Now support for the silver is seen at 61812 and below could see a test of 61049-60250 Resistance is now likely to be seen at 62985 a move above could see prices testing 63657-64445.

S1:61812 S2:61049 S3:60250
R1:62985 R2:63657 R3:64445

MCX Crude Oil JAN :  

Now support for the Crude is seen at 5480 and below could see a test of 5174. Resistance is now likely to be seen at 5585, a move above could see prices testing 5651-5766.

S1:5480 S2:5372 S3:5174
R1:5585 R2:5651 R3:5766

MCX Copper FEB :  

Now support for Copper is seen at 755.50 and below could see a test of 746.55-736.70. Resistance is now likely to be seen at 764.85, a move above could see prices testing 772.40-781.55

S1:755.50 S2:746.55 S3:736.70
R1:764.85 R2:772.40 R3:781.55

MCX Nickel JAN :  

Now support for the Nickel is seen at 1542.65 and below could see a test of 1520.80-1476.25 Resistance is now likely to be seen at 1579.20, a move above could see prices testing 1608.95-1664

S1:1542.65 S2:1520.80 S3:1476.25
R1:1579.20 R2:1608.95 R3:1664

MCX NG JAN :  

Now support for the Natural Gas is seen at 274.75 and below could see a test of 265.80-250.25. Resistance is now likely to be seen at 285.70, a move above could see prices testing 292.95-300.80

S1:274.75 S2:.265.0 S3:250.25
R1:285.70 R2:292.95 R3:300.80

NOV 1st :

ISM Manufacturing PMI:
Previous: 61.1 Forecast: 60.4
Actual > Forecast is good for Dollar

NOV 3rd :

ADP Non-Farm Employment Change :
Previous: 568k Forecast: 400k
Actual > Forecast is good for Dollar

NOV 3rd :

ISM Services PMI:
Previous: 61.9 Forecast: 61.9
Actual < Forecast is good for Dollar

NOV 3rd :

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

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