What Next ??? - December 7, 2019

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

16 responded this week, 4 see prices up, while 7 see prices down, and 5 see prices unchanged. especially Trading range will be between $1432-$1,501 levels.

S1:1455.45 S2:1444 S3:1432.45
R1:1478.50 R2:1486 R3:1501.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.02-$17.87 levels.

S1:16.50 S2:16.33 S3:16.02
R1:17.19 R2:17.43 R3:17.87

Crude :  

10 of 18 analysts, forecast Crude Oil will fall in next week. 4 respondents predicted that futures will be little changed and 4 said the contract will rise.

S1:58.14 S2:57.01 S3:55.73
R1:59.92 R2:61.13 R3:62.34

Copper :  

8 of 18 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 421.70-469.50 levels.

MCX Gold FEB :  

Now support for the Gold is seen at 37321 and below could see a test of 37092-36863 Resistance is now likely to be seen at 37889 a move above could see prices testing 38044-38285.

S1:37321 S2:37092 S3:36863
R1:37889 R2:38044 R3:38285

MCX Silver MAR :  

Now support for the silver is seen at 43112 and below could see a test of 42649-41750 Resistance is now likely to be seen at 43985 a move above could see prices testing 44657-45245.

S1:43112 S2:42649 S3:41750
R1:43985 R2:44657 R3:45245

MCX Crude Oil DEC :  

Now support for the Crude is seen at 4151 and below could see a test of 3974. Resistance is now likely to be seen at 4245, a move above could see prices testing 4311-4416.

S1:4151 S2:4082 S3:3974
R1:4245 R2:4311 R3:4416

MCX Copper DEC :  

Now support for Copper is seen at 432.50 and below could see a test of 426.55-420.70. Resistance is now likely to be seen at 447.85, a move above could see prices testing 453.40-462.55

S1:432.50 S2:426.55 S3:420.70
R1:447.85 R2:453.40 R3:462.55

MCX Zinc DEC :  

Now support for the Zinc is seen at 180.55 and below could see a test of 176.20-172.15. Resistance is now likely to be seen at 186.50, a move above could see prices testing 189.95-195.20

S1:180.55 S2:176.20 S3:172.15
R1:186.50 R2:189.95 R3:195.20

MCX Lead DEC :  

Now support for the Lead is seen at 149.65 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

S1:149.65 S2:146.80 S3:140.25
R1:155.55 R2:158.70 R3:162.80

MCX Nickel DEC :  

Now support for the Nickel is seen at 972.65 and below could see a test of 948.80-910.25 Resistance is now likely to be seen at 1024.20, a move above could see prices testing 1051.95-1079.20

S1:972.65 S2:948.80 S3:910.25
R1:1024.20 R2:1051.95 R3:1079.20

MCX NG DEC :  

Now support for the Natural Gas is seen at 162.75 and below could see a test of 155.80-148.25. Resistance is now likely to be seen at 172.70, a move above could see prices testing 178.95-189.80

S1:162.75 S2:155.80 S3:148.25
R1:172.70 R2:178.95 R3:189.80

DEC 11th :

CPI m/m :
Previous: 0.4% Actual: 0.2%
Actual > Forecast is good for Dollar

DEC 11th :

Core CPI m/m :
Previous: 0.2% Forecast: 0.2%
Actual > Forecast is good for Dollar

DEC 13th :

Core Retail Sales m/m :
Previous: 0.2% Forecast: 0.4%
Actual > Forecast is good for Dollar

DEC 13th :

Retail Sales m/m :
Previous: 0.3% Forecast: 0.4%
Actual > Forecast is good for Dollar

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