What Next ??? - April 14, 2024

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 $2285-$2383 levels.

S1:2325.45 S2:2307 S3:2285.45
R1:2345.50 R2:2362 R3:2383.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $25.02-$30.65 levels.

S1:27.31 S2:26.73 S3:25.02
R1:28.57 R2:29.39 R3:30.65

Crude :  

10 of 15 analysts, forecast Crude Oil will rise in next week. 1 respondents predicted that futures will be little changed and 4 said the contract will fall.

S1:84.24 S2:83.91 S3:81.83
R1:86.42 R2:88.63 R3:90.04

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 785.70-878.50 levels.

MCX Gold JUN :  

Now support for the Gold is seen at 71519 and below could see a test of 70744-69355 Resistance is now likely to be seen at 72471 a move above could see prices testing 73052-73863.

S1:71519 R2:70744 R3:69355
R1:72471 S2:73052 S3:73863

MCX Silver MAY :  

Now support for the silver is seen at 82012 and below could see a test of 80449-78050 Resistance is now likely to be seen at 83312 a move above could see prices testing 84949-86850.

S1:82012 S2:80449 S3:78050
R1:83312 R2:84949 R3:86850

MCX Crude Oil APR :  

Now support for the Crude is seen at 7080 and below could see a test of 6504. Resistance is now likely to be seen at , 7260 a move above could see prices testing 7442-7864

S1:7080 S2:6851 S3:6504
R1:7260 R2:7442 R3:7864

MCX Copper APR :  

Now support for Copper is seen at 805.50 and below could see a test of 797.55-775.70. Resistance is now likely to be seen at 828.85, a move above could see prices testing 833.40-855.55

S1:805.50 S2:797.55 S3:775.70
R1:828.85 R2:833.40 R3:855.55

MCX Nickel APR :  

Now support for the Nickel is seen at 2432.65 and below could see a test of 2381.80-2300.25 Resistance is now likely to be seen at 2475.20, a move above could see prices testing 2530.95-2689

S1:2432.65 S2:2381.80 S3:2300.25
R1:2475.20 R2:2530.95 R3:2689

MCX NG APR :  

Now support for the Natural Gas is seen at 130.75 and below could see a test of 121.80-116.25. Resistance is now likely to be seen at 144.70, a move above could see prices testing 150.95-165.80

S1:130.75 S2:.121.0 S3:116.25
R1:144.70 R2:153.95 R3:165.80

APR 15th :

Core Retail Sales m/m:
Previous: 0.3% Forecast: 0.5%
Actual > Forecast is good for Dollar

APR 15th :

Empire State Manufacturing Index :
Previous: -20.9 Forecast: -5.2
Actual > Forecast is good for Dollar

APR 15th :

Retail Sales m/m:
Previous: 0.6% Forecast: 0.4%
Actual > Forecast is good for Dollar

APR 18th :

Unemployment Claims :
Previous: 211k Forecast: 214k
Actual < Forecast is good for Dollar

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