What Next ??? - August 13, 2022

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

16 responded this week, 7 see prices up, while 5 see prices down, and 4 see prices unchanged. especially Trading range will be between $1774-$1838 levels.

S1:1798.45 S2:1785 S3:1774.45
R1:1813.50 R2:1824 R3:1838.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $19.12-$21.65 levels.

S1:20.60 S2:20.13 S3:19.12
R1:21.47 R2:20.99 R3:21.65

Crude :  

14 of 20 analysts, forecast Crude Oil will rise in next week. 1 respondents predicted that futures will be little changed and 5 said the contract will rise.

S1:91.24 S2:89.91 S3:87.83
R1:93.42 R2:94.63 R3:96.04

Copper :  

8 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 10 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 622.70-710.50 levels.

MCX Gold OCT :  

Now support for the Gold is seen at 52389 and below could see a test of 51844-51485 Resistance is now likely to be seen at 52971 a move above could see prices testing 53452-53963.

S1:52389 R2:51844 R3:51485
R1:52971 S2:53452 S3:53963

MCX Silver SEP :  

Now support for the silver is seen at 58212 and below could see a test of 57549-55250 Resistance is now likely to be seen at 59912 a move above could see prices testing 60849-61950.

S1:58212 S2:57549 S3:55250
R1:59912 R2:60849 R3:61950

MCX Crude Oil AUG :  

Now support for the Crude is seen at 7540 and below could see a test of 7014. Resistance is now likely to be seen at 7455, a move above could see prices testing 7681-7956

S1:7240 S2:7002 S3:6814
R1:7455 R2:7681 R3:7956

MCX Copper AUG :  

Now support for Copper is seen at 655.50 and below could see a test of 644.55-621.70. Resistance is now likely to be seen at 686.85, a move above could see prices testing 698.40-703.55

S1:655.50 S2:644.55 S3:621.70
R1:686.85 R2:698.40 R3:703.55

MCX Nickel AUG :  

Now support for the Nickel is seen at 1950.65 and below could see a test of 1930.80-1886.25 Resistance is now likely to be seen at 2065.20, a move above could see prices testing 2101.95-2189

S1:1950.65 S2:1930.80 S3:1886.25
R1:2065.20 R2:2101.95 R3:2189

MCX NG AUG :  

Now support for the Natural Gas is seen at 685.75 and below could see a test of 672.80-653.25. Resistance is now likely to be seen at 708.70, a move above could see prices testing 719.95-730.80

S1:685.75 S2:.672.0 S3:653.25
R1:708.70 R2:719.95 R3:730.80

AUG 17th :

Core Retail Sales m/m:
Previous: 1.0% Forecast: 0.1%
Actual > Forecast is good for Dollar

AUG 17th :

Retail Sales m/m :
Previous: 1.0% Forecast: 0.2%
Actual > Forecast is good for Dollar

AUG 17th :

FOMC Meeting Minutes:
Previous: >0.5% Forecast: >0.5%
Actual > Forecast is good for Dollar

AUG18th :

Existing Home Sales :
Previous: 5.12M Forecast: 4.85M
Actual > Forecast is good for Dollar

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