What Next ??? - November 28, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 6 see prices up, while 8 see prices down, and 1 see prices unchanged. especially Trading range will be between $1731-$1850 levels.

S1:1762.45 S2:1744 S3:1731.45
R1:1797.50 R2:1829 R3:1850.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $20.12-$25.87 levels.

S1:22.18 S2:21.43 S3:20.12
R1:23.57 R2:24.49 R3:25.87

Crude :  

9 of 20 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 8 said the contract will rise.

S1:44.54 S2:43.01 S3:41.23
R1:46.22 R2:47.63 R3:49.04

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 542.70-598.50 levels.

MCX Gold DEC :  

Now support for the Gold is seen at 47911 and below could see a test of 47492-46763 Resistance is now likely to be seen at 48689 a move above could see prices testing 48944-49485.

S1:47911 S2:47492 S3:46763
R1:48689 R2:48944 R3:49485

MCX Silver DEC :  

Now support for the silver is seen at 58612 and below could see a test of 57149-56050 Resistance is now likely to be seen at 59885 a move above could see prices testing 60857-62145.

S1:58612 S2:57149 S3:56050
R1:59885 R2:60857 R3:62145

MCX Crude Oil DEC :  

Now support for the Crude is seen at 3300 and below could see a test of 3114. Resistance is now likely to be seen at 3405, a move above could see prices testing 3481-3586.

S1:3300 S2:3242 S3:3114
R1:3405 R2:3481 R3:3586

MCX Copper DEC :  

Now support for Copper is seen at 564.50 and below could see a test of 551.55-538.70. Resistance is now likely to be seen at 579.85, a move above could see prices testing 586.40-597.55

S1:564.50 S2:551.55 S3:538.70
R1:579.85 R2:586.40 R3:597.55

MCX Nickel DEC :  

Now support for the Nickel is seen at 1125.65 and below could see a test of 1110.80-1081.25 Resistance is now likely to be seen at 1169.20, a move above could see prices testing 1188.95-1204

S1:1125.65 S2:1110.80 S3:1081.25
R1:1169.20 R2:1188.95 R3:1204

MCX NG DEC :  

Now support for the Natural Gas is seen at 208.75 and below could see a test of 200.80-193.25. Resistance is now likely to be seen at 221.70, a move above could see prices testing 229.95-240.80

S1:208.75 S2:200.80 S3:193.25
R1:221.70 R2:229.95 R3:240.80

NOV 30th :

Pending Home Sales m/m :
Previous: -2.2% Forecast: 1.1%
Actual > Forecast is good for Dollar

DEC 1st :

ISM Manufacturing PMI :
Previous: 59.3 Forecast: 57.7
Actual > Forecast is good for Dollar

DEC 3rd :

Non-Farm Employment Change :
Previous: 638K Forecast: 500K
Actual > Forecast is good for Dollar

DEC 3rd :

Unemployment Claims :
Previous: 6.9% Forecast: 6.8%
Actual < Forecast is good for Dollar

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