What Next ??? - September 14, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 7 see prices up, while 6 see prices down, and 2 see prices unchanged. especially Trading range will be between $1875-$2027 levels.

S1:1928.45 S2:1908 S3:1875.45
R1:1978.50 R2:1990 R3:2027.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $25.22-$28.57 levels.

S1:26.78 S2:26.23 S3:25.22
R1:27.47 R2:27.89 R3:28.57

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.

S1:35.84 S2:34.01 S3:32.73
R1:38.92 R2:40.13 R3:41.84

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 488.70-558.50 levels.

MCX Gold OCT :  

Now support for the Gold is seen at 51221 and below could see a test of 50692-50163 Resistance is now likely to be seen at 51889 a move above could see prices testing 52344-52985.

S1:51221 S2:50692 S3:50163
R1:51889 R2:52344 R3:52985

MCX Silver DEC :  

Now support for the silver is seen at 67412 and below could see a test of 66149-64250 Resistance is now likely to be seen at 69285 a move above could see prices testing 70857-71645.

S1:67412 S2:66149 S3:64250
R1:69285 R2:70857 R3:71645

MCX Crude Oil SEP :  

Now support for the Crude is seen at 2680 and below could see a test of 2434. Resistance is now likely to be seen at 2795, a move above could see prices testing 2911-3066.

S1:2680 S2:2592 S3:2434
R1:2795 R2:2911 R3:3066

MCX Copper SEP :  

Now support for Copper is seen at 521.50 and below could see a test of 516.55-502.70. Resistance is now likely to be seen at 534.85, a move above could see prices testing 545.40-553.55

S1:521.50 S2:516.55 S3:502.70
R1:534.85 R2:545.40 R3:553.55

MCX Nickel SEP :  

Now support for the Nickel is seen at 1105.65 and below could see a test of 1065.80-1021.25 Resistance is now likely to be seen at 1139.20, a move above could see prices testing 1058.95-1084

S1:1105.65 S2:1065.80 S3:1021.25
R1:1139.20 R2:1058.95 R3:1084

MCX NG SEP :  

Now support for the Natural Gas is seen at 166.75 and below could see a test of 160.80-147.25. Resistance is now likely to be seen at 189.70, a move above could see prices testing 197.95-214.80

S1:166.75 S2:160.80 S3:147.25
R1:189.70 R2:197.95 R3:214.80

SEP 16th :

Core Retail Sales m/m :
Previous: 1.9% Actual: 1.0%
Actual > Forecast is good for Dollar

SEP 16th :

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

SEP 17th :

Unemployment Claims :
Previous: 884K Forecast: 825K
Actual < Forecast is good for Dollar

SEP 18th :

CB Leading Index m/m :
Previous: 1.4% Forecast: 1.3%
Actual > Forecast is good for Dollar

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