What Next ??? - February 22, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 14 see prices up, while 1 see prices down, and 0 see prices unchanged. especially Trading range will be between $1616-$1,675 levels.

S1:1635.45 S2:1627 S3:1616.45
R1:1652.50 R2:1663 R3:1675.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $17.52-$19.37 levels.

S1:18.28 S2:17.93 S3:17.52
R1:18.81 R2:18.99 R3:19.37

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.

S1:53.84 S2:53.01 S3:51.73
R1:55.92 R2:57.13 R3:58.34

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 42321 and below could see a test of 42092-41663 Resistance is now likely to be seen at 42889 a move above could see prices testing 43044-43285.

S1:42321 S2:42092 S3:41663
R1:42889 R2:43044 R3:43285

MCX Silver MAR :  

Now support for the silver is seen at 47712 and below could see a test of 46849-45750 Resistance is now likely to be seen at 48785 a move above could see prices testing 49457-50245.

S1:47712 S2:46849 S3:45750
R1:48785 R2:49457 R3:50245

MCX Crude Oil MAR :  

Now support for the Crude is seen at 3813 and below could see a test of 3614. Resistance is now likely to be seen at 3935, a move above could see prices testing 4051-4166.

S1:3813 S2:3722 S3:3614
R1:3935 R2:4051 R3:4166

MCX Copper FEB :  

Now support for Copper is seen at 427.50 and below could see a test of 421.55-411.70. Resistance is now likely to be seen at 438.85, a move above could see prices testing 444.40-453.55

S1:427.50 S2:421.55 S3:411.70
R1:438.85 R2:444.40 R3:453.55

MCX Nickel FEB :  

Now support for the Nickel is seen at 913.65 and below could see a test of 875.80-835.25 Resistance is now likely to be seen at 954.20, a move above could see prices testing 988.95-1024

S1:913.65 S2:875.80 S3:835.25
R1:954.20 R2:988.95 R3:1024

MCX NG FEB :  

Now support for the Natural Gas is seen at 129.75 and below could see a test of 125.80-118.25. Resistance is now likely to be seen at 138.70, a move above could see prices testing 142.95-149.80

S1:129.75 S2:125.80 S3:118.25
R1:138.70 R2:142.95 R3:149.80

FEB 25th :

CB Consumer Confidence :
Previous: 131.6 Actual: 132.6
Actual > Forecast is good for Dollar

FEB 26th :

Crude Oil Inventories :
Previous: 0.4M Forecast: 0.2M

FEB 27th :

Core Durable Goods Orders m/m :
Previous: -0.1% Forecast: 0.2%
Actual > Forecast is good for Dollar

FEB 27th :

Pending Home Sales m/m :
Previous: -4.9 Forecast: 2.1%
Actual > Forecast is good for Dollar

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