What Next ??? - June 5, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

16 responded this week, 11 see prices up, while 2 see prices down, and 3 see prices unchanged. especially Trading range will be between $1850-$1937 levels.

S1:1885.45 S2:1872 S3:1850.45
R1:1911.50 R2:1923 R3:1937.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $26.62-$29.57 levels.

S1:27.61 S2:27.23 S3:26.62
R1:28.37 R2:28.89 R3:29.57

Crude :  

6 of 15 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.

S1:69.04 S2:68.01 S3:66.23
R1:70.22 R2:71.63 R3:73.04

Copper :  

7 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 4 see prices unchanged. Copper may trade in next week up to 692.70-788.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 48811 and below could see a test of 48552-48263 Resistance is now likely to be seen at 49289 a move above could see prices testing 49544-49985.

S1:48811 S2:48552 S3:48263
R1:49289 R2:49544 R3:49985

MCX Silver JUL :  

Now support for the silver is seen at 70512 and below could see a test of 69149-67450 Resistance is now likely to be seen at 71885 a move above could see prices testing 72957-74545.

S1:70512 S2:69149 S3:67450
R1:71885 R2:72957 R3:74545

MCX Crude Oil JUN :  

Now support for the Crude is seen at 5050 and below could see a test of 4784. Resistance is now likely to be seen at 5185, a move above could see prices testing 5261-5436.

S1:5050 S2:4912 S3:4784
R1:5185 R2:5261 R3:5436

MCX Copper JUN :  

Now support for Copper is seen at 732.50 and below could see a test of 718.55-694.70. Resistance is now likely to be seen at 753.85, a move above could see prices testing 762.40-784.55

S1:732.50 S2:718.55 S3:694.70
R1:753.85 R2:762.40 R3:784.55

MCX Nickel JUN :  

Now support for the Nickel is seen at 1281.65 and below could see a test of 1260.80-1226.25 Resistance is now likely to be seen at 1339.20, a move above could see prices testing 1358.95-1384

S1:1281.65 S2:1260.80 S3:1226.25
R1:1339.20 R2:1358.95 R3:1384

MCX NG JUN :  

Now support for the Natural Gas is seen at 218.75 and below could see a test of 207.80-200.25. Resistance is now likely to be seen at 234.70, a move above could see prices testing 240.95-253.80

S1:218.75 S2:207.80 S3:200.25
R1:234.70 R2:240.95 R3:253.80

JUN 9th :

Crude Oil Inventories:
Previous: -5.1M Forecast: -0.5M

JUN 10th :

Unemployment Claims :
Previous: 385K Forecast: 370K
Actual < Forecast is good for Dollar

JUN 10th :

CPI m/m:
Previous: 0.8% Forecast: 0.4%
Actual > Forecast is good for Dollar

JUN 10th :

Core CPI m/m :
Previous: 0.9% Forecast: 0.4
Actual > Forecast is good for Dollar

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