What Next ??? - November 9, 2019

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

22 responded this week, 10 see prices up, while 12 see prices down, and 0 see prices unchanged. especially Trading range will be between $1432-$1,501 levels.

S1:1455.45 S2:1444 S3:1432.45
R1:1478.50 R2:1486 R3:1501.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.02-$17.87 levels.

S1:16.50 S2:16.33 S3:16.02
R1:17.19 R2:17.43 R3:17.87

Crude :  

10 of 18 analysts, forecast Crude Oil will fall in next week. 4 respondents predicted that futures will be little changed and 4 said the contract will rise.

S1:56.14 S2:55.01 S3:53.73
R1:57.92 R2:59.13 R3:60.34

Copper :  

8 of 18 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 426.70-469.50 levels.

MCX Gold DEC :  

Now support for the Gold is seen at 37321 and below could see a test of 37092-36863 Resistance is now likely to be seen at 37889 a move above could see prices testing 38044-38285.

S1:37321 S2:37092 S3:36863
R1:37889 R2:38044 R3:38285

MCX Silver DEC :  

Now support for the silver is seen at 43512 and below could see a test of 42849-42050 Resistance is now likely to be seen at 44405 a move above could see prices testing 44957-45845.

S1:43512 S2:42849 S3:42050
R1:44405 R2:44957 R3:45845

MCX Crude Oil NOV :  

Now support for the Crude is seen at 4011 and below could see a test of 3744. Resistance is now likely to be seen at 4145, a move above could see prices testing 4211-4316.

S1:4011 S2:3932 S3:3744
R1:4145 R2:4211 R3:4316

MCX Copper NOV :  

Now support for Copper is seen at 436.50 and below could see a test of 429.55-420.70. Resistance is now likely to be seen at 447.85, a move above could see prices testing 453.40-462.55

S1:436.50 S2:429.55 S3:420.70
R1:447.85 R2:453.40 R3:462.55

MCX Zinc NOV :  

Now support for the Zinc is seen at 191.55 and below could see a test of 187.20-181.15. Resistance is now likely to be seen at 196.50, a move above could see prices testing 199.95-205.20

S1:191.55 S2:187.20 S3:181.15
R1:196.50 R2:199.95 R3:205.20

MCX Lead NOV :  

Now support for the Lead is seen at 152.65 and below could see a test of 149.80-144.25. Resistance is now likely to be seen at 158.55, a move above could see prices testing 162.70-167.80

S1:152.65 S2:149.80 S3:144.25
R1:158.55 R2:162.70 R3:167.80

MCX Nickel NOV :  

Now support for the Nickel is seen at 1158.65 and below could see a test of 1137.80-1120.25 Resistance is now likely to be seen at 1189.20, a move above could see prices testing 1216.95-1231.20

S1:1158.65 S2:1137.80 S3:1120.25
R1:1189.20 R2:1216.95 R3:1231.20

MCX NG NOV :  

Now support for the Natural Gas is seen at 197.75 and below could see a test of 192.80-179.25. Resistance is now likely to be seen at 204.70, a move above could see prices testing 209.95-216.80

S1:197.75 S2:192.80 S3:179.25
R1:204.70 R2:209.95 R3:216.80

NOV 13th :

CPI m/m :
Previous: 0.0% Actual: 0.3%
Actual > Forecast is good for Dollar

NOV 13th :

Core CPI m/m :
Previous: 0.1% Forecast: 0.2%
Actual > Forecast is good for Dollar

NOV 15th :

Core Retail Sales m/m :
Previous: -0.1% Forecast: 0.3%
Actual > Forecast is good for Dollar

NOV 15th :

Retail Sales m/m :
Previous: -0.3% Forecast: 0.1%
Actual > Forecast is good for Dollar

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