What Next ??? - January 16, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

25 responded this week, 9 see prices up, while 14 see prices down, and 2 see prices unchanged. especially Trading range will be between $1775-$1880 levels.

S1:1808.45 S2:1794 S3:1775.45
R1:1835.50 R2:1859 R3:1880.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $22.12-$27.87 levels.

S1:24.18 S2:23.43 S3:22.12
R1:25.37 R2:26.19 R3:27.87

Crude :  

10 of 20 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 7 said the contract will rise.

S1:51.54 S2:50.01 S3:48.23
R1:53.22 R2:54.63 R3:56.04

Copper :  

6 of 14 analysts, investors and traders surveyed, said the metal will fall next week. while 7 see prices rise, and 1 see prices unchanged. Copper may trade in next week up to 572.70-638.50 levels.

MCX Gold FEB :  

Now support for the Gold is seen at 48211 and below could see a test of 47592-46963 Resistance is now likely to be seen at 48989 a move above could see prices testing 49444-50085.

S1:48211 S2:47592 S3:46963
R1:48989 R2:49444 R3:50085

MCX Silver MAR :  

Now support for the silver is seen at 64012 and below could see a test of 62649-60050 Resistance is now likely to be seen at 65885 a move above could see prices testing 67457-69745.

S1:64012 S2:62649 S3:60050
R1:65885 R2:67457 R3:69745

MCX Crude Oil JAN :  

Now support for the Crude is seen at 3780 and below could see a test of 3514. Resistance is now likely to be seen at 3895, a move above could see prices testing 3991-4116.

S1:3780 S2:3652 S3:3514
R1:3895 R2:3991 R3:4116

MCX Copper JAN :  

Now support for Copper is seen at 596.50 and below could see a test of 581.55-565.70. Resistance is now likely to be seen at 611.85, a move above could see prices testing 622.40-630.55

S1:596.50 S2:581.55 S3:564.70
R1:611.85 R2:622.40 R3:630.55

MCX Nickel JAN :  

Now support for the Nickel is seen at 1325.65 and below could see a test of 1310.80-1271.25 Resistance is now likely to be seen at 1379.20, a move above could see prices testing 1398.95-1414

S1:1325.65 S2:1310.80 S3:1271.25
R1:1379.20 R2:1398.95 R3:1414

MCX NG JAN :  

Now support for the Natural Gas is seen at 195.75 and below could see a test of 186.80-173.25. Resistance is now likely to be seen at 208.70, a move above could see prices testing 218.95-231.80

S1:195.75 S2:186.80 S3:173.25
R1:208.70 R2:218.95 R3:231.80

JAN 21st :

Philly Fed Manufacturing Index :
Previous: 11.1 Forecast: 12.1
Actual > Forecast is good for Dollar

JAN 21st :

Unemployment Claims :
Previous: 965K Forecast: 832K
Actual < Forecast is good for Dollar

JAN 21st :

Building Permits :
Previous: 1.64M Forecast: 1.60M
Actual > Forecast is good for Dollar

JAN 22nd :

Flash Manufacturing PMI :
Previous: 57.1 Forecast: 56.6
Actual > Forecast is good for Dollar

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