What Next ??? - June 6, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

17 responded this week, 6 see prices up, while 8 see prices down, and 3 see prices unchanged. especially Trading range will be between $1636-$1757 levels.

S1:1677.45 S2:1654 S3:1636.45
R1:1705.50 R2:1728 R3:1757.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $15.92-$18.77 levels.

S1:17.28 S2:16.63 S3:15.92
R1:17.77 R2:18.39 R3:18.77

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.

S1:37.84 S2:36.01 S3:33.73
R1:40.92 R2:42.13 R3:44.34

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 403.70-469.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 45421 and below could see a test of 45092-44663 Resistance is now likely to be seen at 46089 a move above could see prices testing 46344-47085.

S1:45421 S2:45092 S3:44663
R1:46089 R2:46344 R3:47085

MCX Silver JUN :  

Now support for the silver is seen at 46412 and below could see a test of 45349-43950 Resistance is now likely to be seen at 48285 a move above could see prices testing 49257-50645.

S1:46412 S2:45349 S3:43950
R1:48285 R2:49257 R3:50645

MCX Crude Oil JUN :  

Now support for the Crude is seen at 2880 and below could see a test of 2504. Resistance is now likely to be seen at 3095, a move above could see prices testing 3211-3366.

S1:2880 S2:2712 S3:2504
R1:3095 R2:3211 R3:3366

MCX Copper JUN :  

Now support for Copper is seen at 425.50 and below could see a test of 416.55-404.70. Resistance is now likely to be seen at 439.85, a move above could see prices testing 444.40-453.55

S1:425.50 S2:416.55 S3:404.70
R1:439.85 R2:444.40 R3:453.55

MCX Nickel JUN :  

Now support for the Nickel is seen at 953.65 and below could see a test of 925.80-881.25 Resistance is now likely to be seen at 994.20, a move above could see prices testing 1018.95-1034

S1:953.65 S2:925.80 S3:881.25
R1:994.20 R2:1018.95 R3:1034

MCX NG JUN :  

Now support for the Natural Gas is seen at 124.75 and below could see a test of 118.80-107.25. Resistance is now likely to be seen at 139.70, a move above could see prices testing 146.95-154.80

S1:124.75 S2:118.80 S3:107.25
R1:139.70 R2:146.95 R3:154.80

JUN 10th :

CPI m/m :
Previous: -0.8% Actual: 0.0%
Actual > Forecast is good for Dollar

JUN 10th :

Core CPI m/m:
Previous: -0.4% Forecast: 0.0%
Actual > Forecast is good for Dollar

JUN 10th :

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

JUN 12th :

Prelim UoM Consumer Sentiment :
Previous: 72.3 Forecast: 75.0
Actual > Forecast is good for Dollar

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