What Next ??? - October 30, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

13 responded this week, 4 see prices up, while 7 see prices down, and 2 see prices unchanged. especially Trading range will be between $1745-$1823 levels.

S1:1770.45 S2:1758 S3:1745.45
R1:1798.50 R2:1812 R3:1823.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $22.32-$25.35 levels.

S1:23.51 S2:22.93 S3:22.32
R1:24.37 R2:24.89 R3:25.35

Crude :  

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

S1:83.24 S2:82.01 S3:79.83
R1:85.82 R2:86.63 R3:88.04

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 712.70-774.50 levels.

MCX Gold DEC :  

Now support for the Gold is seen at 47311 and below could see a test of 46852-45963 Resistance is now likely to be seen at 48289 a move above could see prices testing 48844-49385.

S1:47311 S2:46852 S3:45963
R1:48289 R2:48844 R3:49385

MCX Silver DEC :  

Now support for the silver is seen at 63712 and below could see a test of 62149-60550 Resistance is now likely to be seen at 65785 a move above could see prices testing 66957-68045.

S1:63712 S2:62149 S3:60550
R1:65785 R2:66957 R3:68045

MCX Crude Oil NOV :  

Now support for the Crude is seen at 6160 and below could see a test of 5754. Resistance is now likely to be seen at 6355, a move above could see prices testing 6541-6886.

S1:6160 S2:5952 S3:5754
R1:6355 R2:6541 R3:6886

MCX Copper NOV :  

Now support for Copper is seen at 730.50 and below could see a test of 718.55-706.70. Resistance is now likely to be seen at 752.85, a move above could see prices testing 768.40-781.55

S1:730.50 S2:718.55 S3:706.70
R1:752.85 R2:768.40 R3:781.55

MCX Nickel NOV :  

Now support for the Nickel is seen at 1492.65 and below could see a test of 1450.80-1406.25 Resistance is now likely to be seen at 1579.20, a move above could see prices testing 1608.95-1664

S1:1492.65 S2:1450.80 S3:1406.25
R1:1579.20 R2:1608.95 R3:1664

MCX NG NOV :  

Now support for the Natural Gas is seen at 402.75 and below could see a test of 396.80-388.25. Resistance is now likely to be seen at 416.70, a move above could see prices testing 424.95-432.80

S1:402.75 S2:.396.0 S3:388.25
R1:416.70 R2:424.95 R3:432.80

NOV 1st :

ISM Manufacturing PMI:
Previous: 61.1 Forecast: 60.4
Actual > Forecast is good for Dollar

NOV 3rd :

ADP Non-Farm Employment Change :
Previous: 568k Forecast: 400k
Actual > Forecast is good for Dollar

NOV 3rd :

ISM Services PMI:
Previous: 61.9 Forecast: 61.9
Actual < Forecast is good for Dollar

NOV 3rd :

Federal Funds Rate :
Previous: <0.25% Forecast: <0.25%
Actual > Forecast is good for Dollar

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