What Next ??? - September 15, 2018

Jyothi Rao Anadula Senior Research Analyst sQuareindia Advisory Pvt. Ltd.

"Gold prices could fall to $1185 to $1171 and Silver upto $13.78 to $13.25" -PrataP Kolagatla, Managing Director, sQuareindia Advisory Private Limited


Gold :

17 responded this week, 10 see prices up, while 1 see prices down, and 6 see prices unchanged. especially Trading range will be between $1174-$1,222 levels.

S1:1192.45 S2:1186 S3:1174.45
R1:1205.50 R2:1213 R3:1222.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $13.38-$14.94 levels.

S1:13.85 S2:13.63 S3:13.38
R1:14.25 R2:14.40 R3:14.94

Crude :

8 of 20 analysts, forecast Crude Oil will fall in next week. 2 respondents predicted that futures will be little changed and 10 said the contract will rise.

S1:68.44 S2:67.31 S3:66.23
R1:70.72 R2:71.53 R3:72.94

Copper :

12 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 6 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 392.70-439.50 levels.

MCX Gold OCT :

Now support for the Gold is seen at 30201 and below could see a test of 30082-29663 Resistance is now likely to be seen at 30689 a move above could see prices testing 30744-31085.

S1:30201 S2:30082 S3:29663
R1:30689 R2:30744 R3:31085

MCX Silver DEC :

Now support for the silver is seen at 36612 and below could see a test of 36149-35450 Resistance is now likely to be seen at 37585 a move above could see prices testing 38057-38745.

S1:36612 S2:36149 S3:35450
R1:37585 R2:38057 R3:38745

MCX Crude Oil SEP :

Now support for the Crude is seen at 4824 and below could see a test of 4678. Resistance is now likely to be seen at 4995, a move above could see prices testing 5051-5145.

S1:4824 S2:4762 S3:4678
R1:4995 R2:5051 R3:5145

MCX Copper OCT :

Now support for Copper is seen at 417.50 and below could see a test of 411.55-402.70. Resistance is now likely to be seen at 428.85, a move above could see prices testing 432.40-436.55

S1:417.50 S2:411.55 S3:402.70
R1:428.85 R2:432.40 R3:436.55

MCX Zinc SEP :

Now support for the Zinc is seen at 163.35 and below could see a test of 160.20-156.15. Resistance is now likely to be seen at 170.50, a move above could see prices testing 172.95-177.90

S1:163.35 S2:160.20 S3:156.15
R1:170.50 R2:172.95 R3:177.90

MCX Lead SEP :

Now support for the Lead is seen at 144.65 and below could see a test of 141.80-137.25. Resistance is now likely to be seen at 150.55, a move above could see prices testing 153.70-158.80

S1:144.65 S2:141.80 S3:137.25
R1:150.55 R2:153.70 R3:158.80

MCX Nickel SEP :

Now support for the Nickel is seen at 871.65 and below could see a test of 841.80-812.25 Resistance is now likely to be seen at 902.20, a move above could see prices testing 928.95-953.20

S1:871.65 S2:841.80 S3:812.25
R1:902.20 R2:928.95 R3:953.20

MCX NG SEP :

Now support for the Natural Gas is seen at 196.65 and below could see a test of 191.80-184.25. Resistance is now likely to be seen at 209.70, a move above could see prices testing 213.95-219.80

S1:196.65 S2:191.80 S3:184.25
R1:209.70 R2:213.95 R3:219.80

SEP 17th :

Empire State Manufacturing Index :
Actual: 25.6 Forecast: 23.2
Actual > Forecast is good for Dollar

SEP 19th :

Crude Oil Inventories :
Previous: -5.3M  Forecast: -2.2M

SEP 19th :

Building Permits :
Previous: 1.31M Forecast: 1.31M
Actual > Forecast is good for Dollar

SEP 20th :

Philly Fed Manufacturing Index:
Previous: 11.9 Forecast : 16.3
Actual > Forecast is good for Dollar