What Next ??? - September 18, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
Click here to Subscribe for FREE Market Updates  WhatsApp

Gold :  

15 responded this week, 5 see prices up, while 7 see prices down, and 3 see prices unchanged. especially Trading range will be between $1708-$1804 levels.

S1:1740.45 S2:1727 S3:1708.45
R1:1768.50 R2:1786 R3:1804.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $20.72-$23.67 levels.

S1:22.01 S2:21.43 S3:20.72
R1:22.77 R2:23.19 R3:23.65

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.

S1:71.24 S2:70.01 S3:68.23
R1:72.82 R2:73.63 R3:75.04

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 697.70-744.50 levels.

MCX Gold OCT :  

Now support for the Gold is seen at 45611 and below could see a test of 45052-44163 Resistance is now likely to be seen at 46489 a move above could see prices testing 47044-48185.

S1:45611 S2:45052 S3:44163
R1:46489 R2:47044 R3:48185

MCX Silver DEC :  

Now support for the silver is seen at 59212 and below could see a test of 58149-56250 Resistance is now likely to be seen at 60785 a move above could see prices testing 61657-62945.

S1:59212 S2:58149 S3:56250
R1:60785 R2:61657 R3:62945

MCX Crude Oil OCT :  

Now support for the Crude is seen at 5170 and below could see a test of 4954. Resistance is now likely to be seen at 5355, a move above could see prices testing 5441-5586.

S1:5170 S2:5082 S3:4954
R1:5355 R2:5441 R3:5586

MCX Copper OCT :  

Now support for Copper is seen at 715.50 and below could see a test of 707.55-694.70. Resistance is now likely to be seen at 725.85, a move above could see prices testing 731.40-742.55

S1:715.50 S2:707.55 S3:694.70
R1:725.85 R2:731.40 R3:742.55

MCX Nickel OCT :  

Now support for the Nickel is seen at 1432.65 and below could see a test of 1400.80-1366.25 Resistance is now likely to be seen at 1499.20, a move above could see prices testing 1528.95-1564

S1:1432.65 S2:1400.80 S3:1366.25
R1:1499.20 R2:1528.95 R3:1564

MCX NG OCT :  

Now support for the Natural Gas is seen at 375.75 and below could see a test of 364.80-351.25. Resistance is now likely to be seen at 389.70, a move above could see prices testing 396.95-407.80

S1:375.75 S2:364.80 S3:351.25
R1:389.70 R2:396.95 R3:407.80

SEP 22nd :

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

SEP 22nd :

Crude Oil Inventories :
Previous: -6.4M Forecast: -2.5M

SEP 23rd :

Unemployment Claims:
Previous: 332K Forecast: 317K
Actual < Forecast is good for Dollar

SEP 24th :

New Home Sales :
Previous: 708K Forecast: 708K
Actual > Forecast is good for Dollar

Click here to Subscribe for FREE Market Updates  WhatsApp