What Next ??? - October 14, 2017

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

"Gold prices could rise to $1318 to $1332 and Silver upto $17.87 to $18.24" -PrataP Kolagatla, Chairman, sQuareindia Group


Gold :

17 responded this week, 11 see prices up, while 3 see prices down, and 3 see prices unchanged. especially Trading range will be between $1276-$1,332 levels.

S1:1301.45 S2:1292 S3:1276.45
R1:1311.50 R2:1323 R3:1332.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.25-$18.24 levels.

S1:17.15 S2:16.72 S3:16.25
R1:17.72 R2:17.92 R3:18.24

Crude :

12 of 15 analysts, forecast Crude Oil will fall in next week. 2 respondents predicted that futures will be little changed and 1 said the contract will rise.

S1:50.54 S2:49.31 S3:48.63
R1:51.32 R2:52.63 R3:53.97

Copper :

5 of  15 analysts, investors and traders surveyed, said the metal will fall next week. while 8 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 424.70-461.50 levels.

MCX Gold DEC :

Now support for the Gold is seen at 29620 and below could see a test of 29365-28983 Resistance is now likely to be seen at 29989 a move above could see prices testing 30134-30303.

S1:29620 S2:29365 S3:28983
R1:29989 R2:30134 R3:30303

MCX Silver DEC :

Now support for the silver is seen at 39882 and below could see a test of 39049-38150 Resistance is now likely to be seen at 40908 a move above could see prices testing 41657-42445.

S1:39882 S2:39049 S3:38150
R1:40908 R2:41657 R3:42445

MCX Crude Oil OCT :

Now support for the Crude is seen at 3204 and below could see a test of 2978. Resistance is now likely to be seen at 3370, a move above could see prices testing 3444-3555.

S1:3204 S2:3082 S3:2978
R1:3370 R2:3444 R3:3555

MCX Copper OCT :

Now support for Copper is seen at 432.50 and below could see a test of 425.55-418.70. Resistance is now likely to be seen at 442.85, a move above could see prices testing 447.40-459.55

S1:432.50 S2:425.55 S3:418.70
R1:442.85 R2:447.40 R3:459.55

MCX Zinc OCT :

Now support for the Zinc is seen at 210.35 and below could see a test of 207.20-205.15. Resistance is now likely to be seen at 214.50, a move above could see prices testing 215.95-220.90

S1:210.35 S2:207.20 S3:205.15
R1:214.50 R2:215.95 R3:220.90

MCX Lead DEC :

Now support for the Lead is seen at 161.65 and below could see a test of 159.80-155.25. Resistance is now likely to be seen at 165.55, a move above could see prices testing 169.70-171.80

S1:161.65 S2:159.80 S3:155.25
R1:165.55 R2:169.70 R3:171.80

MCX Nickel DEC :

Now support for the Nickel is seen at 730.65 and below could see a test of 719.80-700.25 Resistance is now likely to be seen at 768.20, a move above could see prices testing 787.95-808.20

S1:730.65 S2:719.80 S3:700.25
R1:768.20 R2:787.95 R3:808.20

MCX NG DEC :

Now support for the Natural Gas is seen at 192.65 and below could see a test of 188.80-181.25. Resistance is now likely to be seen at 196.70, a move above could see prices testing 201.95-208.80

S1:192.65 S2:188.80 S3:181.25
R1:196.70 R2:201.95 R3:208.80

OCT 18th :

Building Permits :
Previous: 1.27M Forecast: 1.25M
Actual > Forecast is good for Dollar

OCT 18th :

Crude Oil Inventories:
Previous: -2.7M  Forecast: 0.4M

OCT 19th :

Unemployment Claims:
Previous: 243K Forecast: 245K
Actual < Forecast is good for Dollar

OCT 19th :

Philly Fed Manufacturing Index:
Previous: 23.8  Forecast: 22.2
Actual > Forecast is good for Dollar