What Next ??? - December 15, 2018

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could rise to $1253 to $1275 and Silver upto $15.06 to $15.58" -PrataP Kolagatla, Managing Director, sQuareindia Advisory Private Limited


Gold :

18 responded this week, 7 see prices up, while 7 see prices down, and 4 see prices unchanged. especially Trading range will be between $1210-$1,253 levels.

S1:1235.45 S2:1222 S3:1210.45
R1:1249.50 R2:1256 R3:1253.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $13.58-$15.74 levels.

S1:14.31 S2:13.93 S3:13.58
R1:14.95 R2:15.20 R3:15.74

Crude :

10 of 15 analysts, forecast Crude Oil will fall in next week. 2 respondents predicted that futures will be little changed and 3 said the contract will rise.

S1:50.14 S2:49.31 S3:47.73
R1:52.22 R2:54.03 R3:55.64

Copper :

9 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 4 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 422.70-462.50 levels.

MCX Gold FEB :

Now support for the Gold is seen at 31321 and below could see a test of 31092-30863 Resistance is now likely to be seen at 31789 a move above could see prices testing 31944-32185.

S1:31321 S2:31092 S3:30863
R1:31789 R2:31944 R3:32185

MCX Silver MAR :

Now support for the silver is seen at 37412 and below could see a test of 36749-35550 Resistance is now likely to be seen at 38485 a move above could see prices testing 38957-39545.

S1:37412 S2:36749 S3:35550
R1:38485 R2:38957 R3:39545

MCX Crude Oil DEC :

Now support for the Crude is seen at 3751 and below could see a test of 3438. Resistance is now likely to be seen at 3955, a move above could see prices testing 4051-4185.

S1:3751 S2:3612 S3:3438
R1:3955 R2:4051 R3:4185

MCX Copper FEB :

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 446.85, a move above could see prices testing 452.40-460.55

S1:435.50 S2:428.55 S3:421.70
R1:446.85 R2:452.40 R3:460.55

MCX Zinc DEC :

Now support for the Zinc is seen at 180.35 and below could see a test of 175.20-168.15. Resistance is now likely to be seen at 187.50, a move above could see prices testing 192.95-199.90

S1:180.35 S2:175.20 S3:168.15
R1:187.50 R2:192.95 R3:199.90

MCX Lead DEC :

Now support for the Lead is seen at 137.65 and below could see a test of 132.80-126.25. Resistance is now likely to be seen at 145.55, a move above could see prices testing 149.70-154.80

S1:137.65 S2:132.80 S3:126.25
R1:145.55 R2:149.70 R3:154.80

MCX Nickel DEC :

Now support for the Nickel is seen at 760.65 and below could see a test of 741.80-712.25 Resistance is now likely to be seen at 802.20, a move above could see prices testing 818.95-828.20

S1:760.65 S2:741.80 S3:712.25
R1:802.20 R2:818.95 R3:828.20

MCX NG DEC :

Now support for the Natural Gas is seen at 270.65 and below could see a test of 263.80-254.25. Resistance is now likely to be seen at 285.70, a move above could see prices testing 291.95-298.80

S1:270.65 S2:263.80 S3:254.25
R1:285.70 R2:291.95 R3:298.80

DEC 19th :

Federal Funds Rate :
Actual: <2.25% Forecast: <2.50%
Actual > Forecast is good for Dollar

DEC 14th :

Core Retail Sales m/m :
Previous: 0.7%  Forecast: 0.2%
Actual > Forecast is good for Dollar

DEC 20th :

Unemployment Claims :
Previous: 206K Forecast: 219K
Actual < Forecast is good for Dollar

DEC 21st :

Core Durable Goods Orders m/m:
Previous: 0.2% Forecast : 0.3%
Actual > Forecast is good for Dollar