What Next ??? - July 24, 2021

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

15 responded this week, 9 see prices up, while 2 see prices down, and 4 see prices unchanged. especially Trading range will be between $1750-$18440 levels.

S1:1792.45 S2:1773 S3:1750.45
R1:1813.50 R2:1822 R3:1844.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $24.12-$27.57 levels.

S1:25.01 S2:24.63 S3:24.12
R1:26.57 R2:26.89 R3:27.57

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.

S1:71.04 S2:70.01 S3:68.23
R1:73.22 R2:74.63 R3:76.04

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 740.70-788.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 47611 and below could see a test of 47252-46963 Resistance is now likely to be seen at 48189 a move above could see prices testing 46663-48285.

S1:47311 S2:47052 S3:46663
R1:47789 R2:48044 R3:48285

MCX Silver SEP :  

Now support for the silver is seen at 66512 and below could see a test of 66149-65050 Resistance is now likely to be seen at 67585 a move above could see prices testing 68257-69945.

S1:66512 S2:66149 S3:65050
R1:67585 R2:68257 R3:69945

MCX Crude Oil JUL :  

Now support for the Crude is seen at 5280 and below could see a test of 5084. Resistance is now likely to be seen at 5435, a move above could see prices testing 5521-5666.

S1:5280 S2:5192 S3:5084
R1:5435 R2:5521 R3:5666

MCX Copper JUL :  

Now support for Copper is seen at 755.50 and below could see a test of 748.55-734.70. Resistance is now likely to be seen at 765.85, a move above could see prices testing 771.40-782.55

S1:755.50 S2:748.55 S3:734.70
R1:765.85 R2:771.40 R3:782.55

MCX Nickel JUL :  

Now support for the Nickel is seen at 1451.65 and below could see a test of 1420.80-1406.25 Resistance is now likely to be seen at 1489.20, a move above could see prices testing 1498.95-1514

S1:1451.65 S2:1420.80 S3:1406.25
R1:1489.20 R2:1498.95 R3:1514

MCX NG JUL :  

Now support for the Natural Gas is seen at 298.75 and below could see a test of 292.80-281.25. Resistance is now likely to be seen at 308.70, a move above could see prices testing 316.95-325.80

S1:298.75 S2:292.80 S3:281.25
R1:308.70 R2:316.95 R3:325.80

JUL 27th :

CB Consumer Confidence:
Previous: 127.3% Forecast: 124.2
Actual > Forecast is good for Dollar

JUL 28th :

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

JUL 29th :

Advance GDP q/q:
Previous: 6.4% Forecast: 8.5%
Actual > Forecast is good for Dollar

JUL 29th :

Unemployment Claims :
Previous: 419K Forecast: 375K
Actual < Forecast is good for Dollar

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