What Next ??? - August 12, 2017

Jyothi Rao Anadula Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could rise to $1302 to $1314 and Silver upto $17.53 to $18.16" -PrataP Kolagatla, Chairman, sQuareindia Group


Gold :

17 responded this week, 9 see prices up, while 2 see prices down, and 6 see prices unchanged. especially Trading range will be between $1,261-$1,318 levels.

S1:1287.45 S2:1275 S3:1261.45
R1:1302.50 R2:1309 R3:1318.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.06-$18.15 levels.

S1:16.85 S2:16.42 S3:16.06
R1:17.37 R2:17.72 R3:18.15

Crude :

10 of 20 analysts, forecast Crude Oil will fall in next week. 2 respondents predicted that futures will be little changed and 8 said the contract will rise.

S1:48.15 S2:47.21 S3:45.53
R1:49.62 R2:50.33 R3:51.97

Copper :

8 of  16 analysts, investors and traders surveyed, said the metal will fall next week. while 4 see prices rise, and 4 see prices unchanged. Copper may trade in next week up to 392.70-438.50 levels.

MCX Gold OCT :

Now support for the Gold is seen at 29080 and below could see a test of 28855-28513 Resistance is now likely to be seen at 29359 a move above could see prices testing 29484-29696.

S1:29080 S2:28855 S3:28513
R1:29359 R2:29484 R3:29696

MCX Silver SEP :

Now support for the silver is seen at 38612 and below could see a test of 38049-37150 Resistance is now likely to be seen at 39508 a move above could see prices testing 40057-40945.

S1:38612 S2:38049 S3:37150
R1:39508 R2:40057 R3:40945

MCX Crude Oil AUG :

Now support for the Crude is seen at 3064 and below could see a test of 2888. Resistance is now likely to be seen at 3190, a move above could see prices testing 3284-3415.

S1:3064 S2:2972 S3:2888
R1:3190 R2:3284 R3:3415

MCX Copper AUG :

Now support for Copper is seen at 407.50 and below could see a test of 402.55-391.70. Resistance is now likely to be seen at 418.85, a move above could see prices testing 423.40-430.55

S1:407.50 S2:402.55 S3:391.70
R1:418.85 R2:423.40 R3:430.55

MCX Zinc AUG :

Now support for the Zinc is seen at 183.35 and below could see a test of 181.20-177.15. Resistance is now likely to be seen at 187.50, a move above could see prices testing 189.95-193.90

S1:183.35 S2:181.20 S3:177.15
R1:187.50 R2:189.95 R3:193.90

MCX Lead AUG :

Now support for the Lead is seen at 146.65 and below could see a test of 143.80-139.25. Resistance is now likely to be seen at 149.55, a move above could see prices testing 151.70-154.80

S1:146.65 S2:143.80 S3:139.25
R1:149.55 R2:151.70 R3:154.80

MCX Nickel AUG :

Now support for the Nickel is seen at 668.65 and below could see a test of 640.80-605.25 Resistance is now likely to be seen at 695.20, a move above could see prices testing 714.95-724.20

S1:668.65 S2:640.80 S3:605.25
R1:695.20 R2:714.95 R3:724.20

MCX NG AUG :

Now support for the Natural Gas is seen at 186.65 and below could see a test of 198.80-174.25. Resistance is now likely to be seen at 195.70, a move above could see prices testing 198.95-202.80

S1:186.65 S2:182.80 S3:174.25
R1:195.70 R2:198.95 R3:202.80

AUG 15th :

Core Retail Sales m/m :
Previous: -0.2% Forecast: 1.5%
Actual > Forecast = Good for Dollar

AUG 15th :

Retail Sales m/m:
Previous: -0.2%  Forecast: 0.5%
Actual > Forecast = Good for Dollar

AUG 16th :

Crude Oil Inventories:
Previous: -1.2M Forecast: -2.5M

AUG 16th :

Building Permits:
Previous: 1.28  Forecast: 1.14
Actual > Forecast = Good for Dollar

AUG 16th :

FOMC Meeting Minutes:
Previous: < 25 Forecast: < 25
More hawkish than expected is good for Dollar

AUG 17th :

Unemployment Claims:
Previous: 222K Forecast: 183K
Actual < Forecast = Good for Dollar