What Next ??? - February 13, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

14 responded this week, 10 see prices up, while 2 see prices down, and 2 see prices unchanged. especially Trading range will be between $1768-$1874 levels.

S1:1808.45 S2:1794 S3:1768.45
R1:1829.50 R2:1843 R3:1874.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $22.12-$29.77 levels.

S1:26.68 S2:25.43 S3:22.12
R1:27.67 R2:28.89 R3:29.77

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.

S1:58.54 S2:57.01 S3:55.23
R1:60.82 R2:61.63 R3:63.04

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 592.70-678.50 levels.

MCX Gold APR :  

Now support for the Gold is seen at 47011 and below could see a test of 46492-44863 Resistance is now likely to be seen at 47889 a move above could see prices testing 48644-49885.

S1:47011 S2:46492 S3:44863
R1:47889 R2:48644 R3:49885

MCX Silver MAR :  

Now support for the silver is seen at 68212 and below could see a test of 66449-64050 Resistance is now likely to be seen at 70885 a move above could see prices testing 71957-73645.

S1:68212 S2:66449 S3:64050
R1:70885 R2:71957 R3:73645

MCX Crude Oil FEB :  

Now support for the Crude is seen at 4180 and below could see a test of 3914. Resistance is now likely to be seen at 4415, a move above could see prices testing 4541-4676.

S1:4180 S2:4052 S3:3914
R1:4415 R2:4541 R3:4676

MCX Copper FEB :  

Now support for Copper is seen at 631.50 and below could see a test of 622.55-594.70. Resistance is now likely to be seen at 646.85, a move above could see prices testing 658.40-673.55

S1:631.50 S2:622.55 S3:594.70
R1:646.85 R2:658.40 R3:673.55

MCX Nickel FEB :  

Now support for the Nickel is seen at 1321.65 and below could see a test of 1290.80-1256.25 Resistance is now likely to be seen at 1359.20, a move above could see prices testing 1378.95-1394

S1:1321.65 S2:1290.80 S3:1256.25
R1:1359.20 R2:1378.95 R3:1394

MCX NG FEB :  

Now support for the Natural Gas is seen at 207.75 and below could see a test of 201.80-193.25. Resistance is now likely to be seen at 218.70, a move above could see prices testing 225.95-231.80

S1:207.75 S2:201.80 S3:193.25
R1:218.70 R2:225.95 R3:231.80

FEB 17th :

Core Retail Sales m/m :
Previous: -1.4% Forecast: 0.9%
Actual > Forecast is good for Dollar

FEB 17th :

Retail Sales m/m :
Previous: -0.7% Forecast: 1.1%
Actual > Forecast is good for Dollar

FEB 18th :

Crude Oil Inventories :
Previous: -6.6M Forecast: -1.5M

FEB 18th :

Unemployment Claims :
Previous: 793K Forecast: 760K
Actual < Forecast is good for Dollar

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