What Next ??? - June 22, 2019

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory

Gold prices could rise to $1412 to $1425 and Silver upto $15.67 to $15.96
-PrataP Kolagatla, Managing Director, sQuareindia Advisory


Click here to Subscribe for FREE Market Updates  WhatsApp

Gold :  

18 responded this week, 12 see prices up, while 3 see prices down, and 3 see prices unchanged. especially Trading range will be between $1375-$1,427 levels.

S1:1396.45 S2:1388 S3:1375.45
R1:1409.50 R2:1415 R3:1427

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $14.48-$16.27 levels.

S1:15.15 S2:14.83 S3:14.48
R1:15.69 R2:15.99 R3:16.27

Crude :  

5 of 15 analysts, forecast Crude Oil will fall in next week. 1 respondents predicted that futures will be little changed and 9 said the contract will rise.

S1:56.14 S2:55.01 S3:53.73
R1:58.62 R2:59.13 R3:61.34

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 397.70-439.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 33821 and below could see a test of 33492-32963 Resistance is now likely to be seen at 34399 a move above could see prices testing 34744-34985.

S1:33821 S2:33492 S3:32963
R1:34399 R2:34744 R3:34985

MCX Silver JUL :  

Now support for the silver is seen at 37212 and below could see a test of 36549-35450 Resistance is now likely to be seen at 38405 a move above could see prices testing 38957-39845.

S1:37212 S2:36549 S3:35450
R1:38405 R2:38957 R3:39845

MCX Crude Oil JUL :  

Now support for the Crude is seen at 3941 and below could see a test of 3604. Resistance is now likely to be seen at 4175, a move above could see prices testing 4261-4356.

S1:3941 S2:3822 S3:3604
R1:4175 R2:4261 R3:4356

MCX Copper JUN :  

Now support for Copper is seen at 410.50 and below could see a test of 402.55-396.70. Resistance is now likely to be seen at 422.85, a move above could see prices testing 429.70-435.55

S1:410.50 S2:402.55 S3:396.70
R1:422.85 R2:429.40 R3:435.55

MCX Zinc JUN :  

Now support for the Zinc is seen at 197.35 and below could see a test of 192.20-184.15. Resistance is now likely to be seen at 204.50, a move above could see prices testing 208.95-215.90

S1:197.35 S2:192.20 S3:184.15
R1:204.50 R2:208.95 R3:215.90

MCX Lead JUN :  

Now support for the Lead is seen at 150.65 and below could see a test of 146.80-141.25. Resistance is now likely to be seen at 158.55, a move above could see prices testing 162.70-167.80

S1:150.65 S2:146.80 S3:141.25
R1:158.55 R2:162.70 R3:167.80

MCX Nickel JUN :  

Now support for the Nickel is seen at 845.65 and below could see a test of 826.80-803.25 Resistance is now likely to be seen at 891.20, a move above could see prices testing 903.95-927.20

S1:845.65 S2:826.80 S3:803.25
R1:891.20 R2:903.95 R3:927.20

MCX NG JUN :  

Now support for the Natural Gas is seen at 148.75 and below could see a test of 140.80-133.25. Resistance is now likely to be seen at 159.70, a move above could see prices testing 165.95-172.80

S1:148.75 S2:140.80 S3:133.25
R1:159.70 R2:165.95 R3:172.80

JUN 25th :

CB Consumer Confidence :
Previous: 134.10 Forecast: 132
Actual > Forecast is good for Dollar

JUN 26th :

Core Durable Goods Orders m/m :
Previous: 0.0% Forecast: 0.1%
Actual > Forecast is good for Dollar

JUN 27th :

Final GDP q/q :
Previous: 3.1% Forecast: 3.1%
Actual > Forecast is good for Dollar

JUN 28th :

Core PCE Price Index m/m :
Previous: 0.2% Forecast: 0.2%
Actual > Forecast is good for Dollar

Click here to Subscribe for FREE Market Updates  WhatsApp