What Next ??? - May 28, 2022

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

17 responded this week, 11 see prices up, while 2 see prices down, and 4 see prices unchanged. especially Trading range will be between $1804-$1890 levels.

S1:1846.45 S2:1822 S3:1804.45
R1:1868.50 R2:1872 R3:1890.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $20.82-$23.75 levels.

S1:21.60 S2:21.03 S3:20.82
R1:22.47 R2:22.99 R3:23.75

Crude :  

14 of 20 analysts, forecast Crude Oil will rise in next week. 1 respondents predicted that futures will be little changed and 5 said the contract will rise.

S1:114.24 S2:112.91 S3:110.83
R1:116.42 R2:118.63 R3:120.04

Copper :  

8 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 10 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 745.70-810.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 50489 and below could see a test of 50244-49785 Resistance is now likely to be seen at 51371 a move above could see prices testing 51752-52963.

S1:50489 R2:50244 R3:49785
R1:51371 S2:51752 S3:52963

MCX Silver JUL :  

Now support for the silver is seen at 60812 and below could see a test of 60049-59150 Resistance is now likely to be seen at 61915 a move above could see prices testing 59550-64950.

S1:61512 S2:60749 S3:59550
R1:62912 R2:63749 R3:64950

MCX Crude Oil JUN :  

Now support for the Crude is seen at 8700 and below could see a test of 8214. Resistance is now likely to be seen at 8955, a move above could see prices testing 9181-9356

S1:8700 S2:8502 S3:8214
R1:8955 R2:9181 R3:9356

MCX Copper JUN :  

Now support for Copper is seen at 765.50 and below could see a test of 748.55-731.70. Resistance is now likely to be seen at 786.85, a move above could see prices testing 798.40-813.55

S1:765.50 S2:848.55 S3:731.70
R1:786.85 R2:798.40 R3:813.55

MCX Nickel JUN :  

Now support for the Nickel is seen at 2050.65 and below could see a test of 1830.80-1686.25 Resistance is now likely to be seen at 2265.20, a move above could see prices testing 2401.95-2689

S1:2050.65 S2:1830.80 S3:1686.25
R1:2265.20 R2:2401.95 R3:2689

MCX NG JUN :  

Now support for the Natural Gas is seen at 665.75 and below could see a test of 652.80-633.25. Resistance is now likely to be seen at 678.70, a move above could see prices testing 689.95-700.80

S1:665.75 S2:.652.0 S3:633.25
R1:678.70 R2:689.95 R3:700.80

JUN 1st :

ISM Manufacturing PMI:
Previous: 55.4 Forecast: 54.9
Actual > Forecast is good for Dollar

JUN 1st :

JOLTS Job Openings :
Previous: 11.55M Forecast: 11.40M
Actual > Forecast is good for Dollar

JUN 2nd :

ADP Non-Farm Employment Change:
Previous: 247K Forecast: 295K
Actual > Forecast is good for Dollar

JUN 3rd :

Non-Farm Employment Change :
Previous: 428K Forecast: 325K
Actual > Forecast is good for Dollar

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