What Next ??? - June 17, 2017

Jyothi Rao Anadula Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could fall to $1242 to $1228 and Silver upto $16.32 to $16.06" -PrataP Kolagatla, Chairman, sQuareindia Group


Gold :

21 responded this week, 9 see prices up, while 10 see prices down, and 2 see prices unchanged. especially Trading range will be between $1,227-$1,282 levels.

S1:1248.45 S2:1239 S3:1227.45
R1:1261.50 R2:1270 R3:1283.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.35-$17.56 levels.

S1:16.35 S2:16.02 S3:15.71
R1:16.88 R2:17.22 R3:17.56

Crude :

8 of 15 analysts, forecast Crude Oil will fall in next week. 4 respondents predicted that futures will be little changed and 3 said the contract will rise.

S1:44.15 S2:43.41 S3:42.43
R1:45.62 R2:46.73 R3:47.57

Copper :

10 of  15 analysts, investors and traders surveyed, said the metal will fall next week. while 3 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 346.70-378.50 levels.

MCX Gold AUG :

Now support for the Gold is seen at 28520 and below could see a test of 28355-28113 Resistance is now likely to be seen at 28769 a move above could see prices testing 28984-29196.

S1:28520 S2:28355 S3:28113
R1:28769 R2:28984 R3:29196

MCX Silver JUL :

Now support for the silver is seen at 38012 and below could see a test of 37649-36950 Resistance is now likely to be seen at 38908 a move above could see prices testing 39557-40445.

S1:38012 S2:37649 S3:36950
R1:38908 R2:39557 R3:40445

MCX Crude Oil JUN :

Now support for the Crude is seen at 2813 and below could see a test of 2688. Resistance is now likely to be seen at 2951, a move above could see prices testing 3034-3185.

S1:2813 S2:2762 S3:2688
R1:2951 R2:3034 R3:3185

MCX Copper JUN :

Now support for Copper is seen at 362.50 and below could see a test of 357.55-348.70. Resistance is now likely to be seen at 371.85, a move above could see prices testing 377.40-383.55

S1:362.50 S2:357.55 S3:348.70
R1:371.85 R2:377.40 R3:383.55

MCX Zinc JUN :

Now support for the Zinc is seen at 160.35 and below could see a test of 158.20-155.15. Resistance is now likely to be seen at 164.50, a move above could see prices testing 167.95-169.90

S1:160.35 S2:158.20 S3:155.15
R1:164.50 R2:167.95 R3:169.90

MCX Lead JUN :

Now support for the Lead is seen at 134.65 and below could see a test of 132.80-129.25. Resistance is now likely to be seen at 138.55, a move above could see prices testing 140.70-142.80

S1:134.65 S2:132.80 S3:129.25
R1:138.55 R2:140.70 R3:142.80

MCX Nickel JUN :

Now support for the Nickel is seen at 568.65 and below could see a test of 560.80-546.25 Resistance is now likely to be seen at 579.20, a move above could see prices testing 586.95-602.20

S1:568.65 S2:560.80 S3:546.25
R1:579.20 R2:586.95 R3:602.20

MCX NG JUN :

Now support for the Natural Gas is seen at 194.65 and below could see a test of 190.80-186.25. Resistance is now likely to be seen at 201.70, a move above could see prices testing 204.95-211.80

S1:194.65 S2:190.80 S3:186.25
R1:201.70 R2:204.95 R3:211.80

JUN 21st :

Existing Home Sales:
Previous: 5.57M Forecast: 5.55M
Actual > Forecast = Good for Dollar

JUN 22nd :

Unemployment Claims:
Previous: 237K  Forecast: 241K
Actual < Forecast = Good for Dollar