What Next ??? - September 17, 2022

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

22 responded this week, 4 see prices up, while 14 see prices down, and 4 see prices unchanged. especially Trading range will be between $1663-$1718 levels.

S1:1663.45 S2:1650 S3:1632.45
R1:1684.50 R2:1695 R3:1718.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $17.82-$21.45 levels.

S1:19.21 S2:18.53 S3:17.82
R1:20.17 R2:20.69 R3:21.45

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.

S1:85.24 S2:83.91 S3:81.83
R1:87.42 R2:89.63 R3:91.04

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 622.70-710.50 levels.

MCX Gold OCT :  

Now support for the Gold is seen at 48989 and below could see a test of 48344-47885 Resistance is now likely to be seen at 49671 a move above could see prices testing 50052-50963.

S1:48989 R2:48344 R3:47885
R1:49671 S2:50052 S3:50963

MCX Silver DEC :  

Now support for the silver is seen at 56212 and below could see a test of 55049-53450 Resistance is now likely to be seen at 57412 a move above could see prices testing 58849-60250.

S1:56212 S2:55049 S3:53450
R1:57412 R2:58849 R3:60250

MCX Crude Oil SEP :  

Now support for the Crude is seen at 6740 and below could see a test of 6214. Resistance is now likely to be seen at 6955, a move above could see prices testing 7081-7256

S1:6740 S2:6502 S3:6214
R1:6955 R2:7081 R3:7256

MCX Copper SEP :  

Now support for Copper is seen at 645.50 and below could see a test of 624.55-601.70. Resistance is now likely to be seen at 666.85, a move above could see prices testing 688.40-703.55

S1:645.50 S2:624.55 S3:601.70
R1:666.85 R2:688.40 R3:703.55

MCX Nickel SEP :  

Now support for the Nickel is seen at 2050.65 and below could see a test of 1930.80-1886.25 Resistance is now likely to be seen at 2265.20, a move above could see prices testing 2301.95-2489

S1:2050.65 S2:1930.80 S3:1886.25
R1:2265.20 R2:2301.95 R3:2489

MCX NG SEP :  

Now support for the Natural Gas is seen at 625.75 and below could see a test of 612.80-603.25. Resistance is now likely to be seen at 642.70, a move above could see prices testing 649.95-660.80

S1:625.75 S2:.612.0 S3:603.25
R1:642.70 R2:649.95 R3:660.80

SEP 22nd :

Federal Funds Rate:
Previous: <2.50% Forecast: <3.25%
Actual > Forecast is good for Dollar

SEP 22nd :

Existing Home Sales :
Previous: 4.81M Forecast: 4.69M
Actual > Forecast is good for Dollar

SEP 23rd :

Flash Services PMI:
Previous: 43.7 Forecast: 45.0
Actual > Forecast is good for Dollar

SEP 23rd :

Flash Manufacturing PMI :
Previous: 51.5 Forecast: 51.3
Actual > Forecast is good for Dollar

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