What Next ??? - April 3, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 11 see prices up, while 4 see prices down, and 0 see prices unchanged. especially Trading range will be between $1690-$1770 levels.

S1:1722.45 S2:1705 S3:1690.45
R1:1746.50 R2:1752 R3:1770.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $23.82-$26.27 levels.

S1:24.51 S2:24.13 S3:23.82
R1:25.37 R2:25.69 R3:26.27

Crude :  

6 of 15 analysts, forecast Crude Oil will fall in next week. 1 respondents predicted that futures will be little changed and 8 said the contract will rise.

S1:61.04 S2:60.01 S3:58.23
R1:62.22 R2:63.63 R3:65.04

Copper :  

7 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 4 see prices unchanged. Copper may trade in next week up to 632.70-708.50 levels.

MCX Gold JUN :  

Now support for the Gold is seen at 45211 and below could see a test of 44952-44363 Resistance is now likely to be seen at 45689 a move above could see prices testing 45944-46485.

S1:45211 S2:44952 S3:44363
R1:45689 R2:45944 R3:46485

MCX Silver MAY :  

Now support for the silver is seen at 64212 and below could see a test of 63049-61450 Resistance is now likely to be seen at 65785 a move above could see prices testing 66857-68945.

S1:64212 S2:63049 S3:61450
R1:65785 R2:66857 R3:68945

MCX Crude Oil APR :  

Now support for the Crude is seen at 4420 and below could see a test of 4214. Resistance is now likely to be seen at 4585, a move above could see prices testing 4651-4796.

S1:4420 S2:4342 S3:4214
R1:4585 R2:4651 R3:4796

MCX Copper APR :  

Now support for Copper is seen at 661.50 and below could see a test of 652.55-624.70. Resistance is now likely to be seen at 675.85, a move above could see prices testing 682.40-694.55

S1:661.50 S2:652.55 S3:624.70
R1:675.85 R2:682.40 R3:694.55

MCX Nickel APR :  

Now support for the Nickel is seen at 1181.65 and below could see a test of 1140.80-1086.25 Resistance is now likely to be seen at 1229.20, a move above could see prices testing 1248.95-1284

S1:1181.65 S2:1140.80 S3:1086.25
R1:1229.20 R2:1248.95 R3:1284

MCX NG APR :  

Now support for the Natural Gas is seen at 189.75 and below could see a test of 174.80-168.25. Resistance is now likely to be seen at 199.70, a move above could see prices testing 204.95-211.80

S1:189.75 S2:174.80 S3:168.25
R1:199.70 R2:204.95 R3:211.80

APR 5th :

ISM Services PMI:
Previous: 55.3 Forecast: 58.3
Actual > Forecast is good for Dollar

APR 7th :

Crude Oil Inventories:
Previous: -0.9M Forecast: -0.5M

APR 7th :

FOMC Meeting Minutes:
Previous: >2.5 Forecast: >2.5

APR 8th :

Unemployment Claims :
Previous: 719K Forecast: 690K
Actual < Forecast is good for Dollar

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