What Next ??? - December 9, 2017

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

"Gold prices could fall to $1232 to $1216 and Silver upto $15.41 to $15.06" -PrataP Kolagatla, Chairman, sQuareindia Group


Gold :

19 responded this week, 7 see prices up, while 10 see prices down, and 2 see prices unchanged. especially Trading range will be between $1208-$1,292 levels.

S1:1232.45 S2:1220 S3:1208.45
R1:1265.50 R2:1276 R3:1292.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $14.85-$17.06 levels.

S1:15.55 S2:15.22 S3:14.85
R1:16.32 R2:16.82 R3:17.06

Crude :

11 of 20 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.

S1:56.54 S2:54.31 S3:52.63
R1:59.32 R2:60.63 R3:62.34

Copper :

5 of  20 analysts, investors and traders surveyed, said the metal will fall next week. while 12 see prices rise, and 3 see prices unchanged. Copper may trade in next week up to 431.70-460.50 levels.

MCX Gold FEB :

Now support for the Gold is seen at 28380 and below could see a test of 28145-27763 Resistance is now likely to be seen at 28729 a move above could see prices testing 28904-29285.

S1:28380 S2:28145 S3:27763
R1:28729 R2:28904 R3:29285

MCX Silver MAR :

Now support for the silver is seen at 36782 and below could see a test of 36349-35850 Resistance is now likely to be seen at 37485 a move above could see prices testing 37857-38845.

S1:36782 S2:36349 S3:35850
R1:37485 R2:37857 R3:38845

MCX Crude Oil DEC :

Now support for the Crude is seen at 3634 and below could see a test of 3338. Resistance is now likely to be seen at 3780, a move above could see prices testing 3901-3045.

S1:3634 S2:3502 S3:3338
R1:3780 R2:3901 R3:4045

MCX Copper DEC :

Now support for Copper is seen at 424.50 and below could see a test of 419.55-412.70. Resistance is now likely to be seen at 431.85, a move above could see prices testing 436.40-442.55

S1:424.50 S2:419.55 S3:412.70
R1:431.85 R2:436.40 R3:442.55

MCX Zinc DEC :

Now support for the Zinc is seen at 197.35 and below could see a test of 195.20-192.15. Resistance is now likely to be seen at 202.50, a move above could see prices testing 204.95-207.90

S1:197.35 S2:195.20 S3:192.15
R1:202.50 R2:204.95 R3:207.90

MCX Lead DEC :

Now support for the Lead is seen at 156.65 and below could see a test of 154.80-151.25. Resistance is now likely to be seen at 161.55, a move above could see prices testing 163.70-165.80

S1:156.65 S2:154.80 S3:151.25
R1:161.55 R2:163.70 R3:165.80

MCX Nickel DEC :

Now support for the Nickel is seen at 686.65 and below could see a test of 662.80-634.25 Resistance is now likely to be seen at 724.20, a move above could see prices testing 747.95-778.20

S1:686.65 S2:662.80 S3:634.25
R1:724.20 R2:747.95 R3:778.20

MCX NG DEC :

Now support for the Natural Gas is seen at 204.65 and below could see a test of 199.80-193.25. Resistance is now likely to be seen at 214.70, a move above could see prices testing 217.95-224.80

S1:204.65 S2:199.80 S3:193.25
R1:214.70 R2:217.95 R3:224.80

DEC 12th :

PPI m/m :
Actual: 0.4% Forecast: 0.4%
Actual > Forecast is good for Dollar

DEC 13th :

CPI m/m :
Previous: 0.1%  Forecast: 0.4%
Actual > Forecast is good for Dollar

DEC 13th :

Core CPI m/m :
Previous: 0.2% Forecast: 0.2%
Actual > Forecast is good for Dollar

DEC 13th :

Crude Oil Inventories :
Previous: -5.6M  Forecast: 0.5M

DEC 14th :

Federal Funds Rate :
Previous: <1.25%  Forecast: <1.25%
Actual > Forecast is good for Dollar

DEC 14th :

Core Retail Sales m/m :
Previous: 0.1% Forecast: 0.7%
Actual > Forecast is good for Dollar

DEC 14th :

Retail Sales m/m :
Previous: 0.2% Forecast: 0.3
Actual > Forecast is good for Dollar

DEC 14th :

Unemployment Claims :
Previous: 236K Forecast: 240K
Actual < Forecast is good for Dollar