What Next ??? - February 17, 2019

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could rise to $1334 to $1350 and Silver upto $16.22 to $16.73" -PrataP Kolagatla, Managing Director, sQuareindia Advisory Private Limited



Gold :  

17 responded this week, 13 see prices up, while 2 see prices down, and 2 see prices unchanged. especially Trading range will be between $1291-$1,353 levels.

S1:1316.45 S2:1305 S3:1291.45
R1:1332.50 R2:1340 R3:1353.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $14.78-$16.57 levels.

S1:15.45 S2:15.13 S3:14.78
R1:15.96 R2:16.29 R3:16.57

Crude :  

10 of 20 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 7 said the contract will rise.

S1:54.14 S2:52.31 S3:50.73
R1:57.22 R2:58.03 R3:60.64

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 423.70-469.50 levels.

MCX Gold APR :  

Now support for the Gold is seen at 33121 and below could see a test of 32892-32363 Resistance is now likely to be seen at 33689 a move above could see prices testing 33844-34185.

S1:33121 S2:32892 S3:32363
R1:33689 R2:33844 R3:34185

MCX Silver MAR :  

Now support for the silver is seen at 39612 and below could see a test of 38849-38050 Resistance is now likely to be seen at 40585 a move above could see prices testing 41257-41945.

S1:39612 S2:38849 S3:38050
R1:40585 R2:41257 R3:41945

MCX Crude Oil FEB :  

Now support for the Crude is seen at 3861 and below could see a test of 3618. Resistance is now likely to be seen at 4065, a move above could see prices testing 4181-4385.

S1:3861 S2:3752 S3:3618
R1:4065 R2:4181 R3:4385

MCX Copper FEB :  

Now support for Copper is seen at 435.50 and below could see a test of 426.55-417.70. Resistance is now likely to be seen at 448.85, a move above could see prices testing 456.40-464.55

S1:435.50 S2:426.55 S3:417.70
R1:448.85 R2:456.40 R3:464.55

MCX Zinc FEB :  

Now support for the Zinc is seen at 187.35 and below could see a test of 182.20-175.15. Resistance is now likely to be seen at 194.50, a move above could see prices testing 199.95-206.90

S1:187.35 S2:182.20 S3:175.15
R1:194.50 R2:199.95 R3:206.90

MCX Lead FEB :  

Now support for the Lead is seen at 143.65 and below could see a test of 139.80-132.25. Resistance is now likely to be seen at 151.55, a move above could see prices testing 156.70-164.80

S1:143.65 S2:139.80 S3:132.25
R1:151.55 R2:156.70 R3:164.80

MCX Nickel FEB :  

Now support for the Nickel is seen at 869.65 and below could see a test of 857.80-843.25 Resistance is now likely to be seen at 894.20, a move above could see prices testing 919.95-930.20

S1:869.65 S2:857.80 S3:843.25
R1:894.20 R2:919.95 R3:930.20

MCX NG FEB :  

Now support for the Natural Gas is seen at 181.65 and below could see a test of 176.80-171.25. Resistance is now likely to be seen at 192.70, a move above could see prices testing 198.95-205.80

S1:181.75 S2:176.80 S3:171.25
R1:192.70 R2:198.95 R3:205.80

FEB 21st :

Core Durable Goods Orders m/m :
Actual: -0.4% Forecast: 0.2%
Actual > Forecast is good for Dollar

FEB 21st :

Durable Goods Orders m/m :
Previous: 0.7%  Forecast: 0.8%
Actual > Forecast is good for Dollar

FEB 21st :

Unemployment Claims :
Previous: 239K Forecast: 220K
Actual < Forecast is good for Dollar

FEB 21st :

Philly Fed Manufacturing Index :
Previous: 17.0 Forecast: 15.6
Actual > Forecast is good for Dollar