What Next ??? - January 25, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

18 responded this week, 10 see prices up, while 3 see prices down, and 5 see prices unchanged. especially Trading range will be between $1540-$1,599 levels.

S1:1577.45 S2:1584 S3:1599.45
R1:1563.50 R2:1553 R3:1540.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $17.22-$18.87 levels.

S1:17.80 S2:17.53 S3:17.22
R1:18.29 R2:18.43 R3:18.87

Crude :  

7 of 15 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 5 said the contract will rise.

S1:53.14 S2:52.01 S3:50.73
R1:55.92 R2:57.13 R3:58.34

Copper :  

7 of 17 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 1 see prices unchanged. Copper may trade in next week up to 424.70-469.50 levels.

MCX Gold FEB :  

Now support for the Gold is seen at 40151 and below could see a test of 39892-38663 Resistance is now likely to be seen at 40589 a move above could see prices testing 40744-40985.

S1:40151 S2:39892 S3:38663
R1:40589 R2:40744 R3:40985

MCX Silver MAR :  

Now support for the silver is seen at 46512 and below could see a test of 45849-45150 Resistance is now likely to be seen at 47385 a move above could see prices testing 47457-48445.

S1:46512 S2:45849 S3:45150
R1:47385 R2:47857 R3:48445

MCX Crude Oil FEB :  

Now support for the Crude is seen at 3813 and below could see a test of 3614. Resistance is now likely to be seen at 4975, a move above could see prices testing 4051-4166.

S1:3813 S2:3722 S3:3614
R1:3975 R2:4051 R3:4166

MCX Copper JAN :  

Now support for Copper is seen at 435.50 and below could see a test of 428.55-421.70. Resistance is now likely to be seen at 444.85, a move above could see prices testing 448.40-454.55

S1:435.50 S2:428.55 S3:421.70
R1:444.85 R2:448.40 R3:454.55

MCX Zinc JAN :  

Now support for the Zinc is seen at 177.55 and below could see a test of 172.20-165.15. Resistance is now likely to be seen at 182.50, a move above could see prices testing 185.95-189.20

S1:177.55 S2:172.20 S3:165.15
R1:182.50 R2:185.95 R3:189.20

MCX Lead JAN :  

Now support for the Lead is seen at 148.65 and below could see a test of 146.80-140.25. Resistance is now likely to be seen at 155.55, a move above could see prices testing 158.70-162.80

S1:148.65 S2:146.80 S3:140.25
R1:155.55 R2:158.70 R3:162.80

MCX Nickel JAN :  

Now support for the Nickel is seen at 943.65 and below could see a test of 919.80-865.25 Resistance is now likely to be seen at 1019.20, a move above could see prices testing 1038.95-1054

S1:943.65 S2:915.80 S3:865.25
R1:1019.20 R2:1038.95 R3:1054

MCX NG JAN :  

Now support for the Natural Gas is seen at 129.75 and below could see a test of 125.80-118.25. Resistance is now likely to be seen at 138.70, a move above could see prices testing 142.95-149.80

S1:129.75 S2:125.80 S3:118.25
R1:138.70 R2:142.95 R3:149.80

JAN 28th :

CB Consumer Confidence :
Previous: 126.5 Actual: 128.2
Actual > Forecast is good for Dollar

JAN 29th :

Crude Oil Inventories :
Previous: -0.4M Forecast: 0.2M

JAN 30th :

Federal Funds Rate :
Previous: <1.75% Forecast: <1.75%
Actual > Forecast is good for Dollar

JAN 30th :

Advance GDP q/q :
Previous: 2.1% Forecast: 2.2%
Actual > Forecast is good for Dollar

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