What Next ??? - March 14, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 5 see prices up, while 7 see prices down, and 3 see prices unchanged. especially Trading range will be between $1436-$1,627 levels.

S1:1502.45 S2:1477 S3:1436.45
R1:1556.50 R2:1598 R3:1627.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $12.62-$16.57 levels.

S1:14.28 S2:13.53 S3:12.62
R1:15.17 R2:15.69 R3:16.57

Crude :  

7 of 15 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 5 said the contract will rise.

S1:31.84 S2:30.01 S3:28.73
R1:33.92 R2:46.13 R3:48.34

Copper :  

7 of 17 analysts, investors and traders surveyed, said the metal will fall next week. while 9 see prices rise, and 1 see prices unchanged. Copper may trade in next week up to 414.70-459.50 levels.

MCX Gold APR :  

Now support for the Gold is seen at 40021 and below could see a test of 39292-37563 Resistance is now likely to be seen at 41389 a move above could see prices testing 42344-44285.

S1:40021 S2:39292 S3:37563
R1:41389 R2:42344 R3:44285

MCX Silver MAR :  

Now support for the silver is seen at 39812 and below could see a test of 37349-35050 Resistance is now likely to be seen at 41185 a move above could see prices testing 42457-45245.

S1:39812 S2:37349 S3:35050
R1:41185 R2:42457 R3:45245

MCX Crude Oil APR :  

Now support for the Crude is seen at 2253 and below could see a test of 2004. Resistance is now likely to be seen at 2535, a move above could see prices testing 2711-2966.

S1:2253 S2:2112 S3:2004
R1:2535 R2:2711 R3:2966

MCX Copper MAR :  

Now support for Copper is seen at 415.50 and below could see a test of 409.55-397.70. Resistance is now likely to be seen at 428.85, a move above could see prices testing 434.40-443.55

S1:415.50 S2:409.55 S3:397.70
R1:428.85 R2:434.40 R3:443.55

MCX Nickel MAR :  

Now support for the Nickel is seen at 903.65 and below could see a test of 875.80-861.25 Resistance is now likely to be seen at 944.20, a move above could see prices testing 968.95-984

S1:903.65 S2:875.80 S3:861.25
R1:944.20 R2:968.95 R3:984

MCX NG MAR :  

Now support for the Natural Gas is seen at 136.75 and below could see a test of 132.80-125.25. Resistance is now likely to be seen at 142.70, a move above could see prices testing 148.95-154.80

S1:136.75 S2:132.80 S3:125.25
R1:142.70 R2:148.95 R3:154.80

MAR 17th :

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

MAR 17th :

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

MAR 18th :

Federal Funds Rate :
Previous: <1.25% Forecast: <0.75%
Actual > Forecast is good for Dollar

MAR 18th :

Philly Fed Manufacturing Index :
Previous: 36.7 Forecast: 10.2
Actual > Forecast is good for Dollar

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