What Next ??? - July 18, 2020

Jyothi Kolagatla Senior Research Analyst sQuareindia Advisory
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Gold :  

16 responded this week, 11 see prices up, while 1 see prices down, and 4 see prices unchanged. especially Trading range will be between $1762-$1847 levels.

S1:1798.45 S2:1784 S3:1762.45
R1:1815.50 R2:1828 R3:1847.50

Silver :  

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $18.72-$20.57 levels.

S1:19.48 S2:19.23 S3:18.72
R1:19.97 R2:20.29 R3:20.57

Crude :  

7 of 14 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 4 said the contract will rise.

S1:39.84 S2:38.01 S3:36.73
R1:41.92 R2:43.13 R3:44.84

Copper :  

6 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 7 see prices rise, and 0 see prices unchanged. Copper may trade in next week up to 478.70-518.50 levels.

MCX Gold AUG :  

Now support for the Gold is seen at 48621 and below could see a test of 48292-47863 Resistance is now likely to be seen at 49189 a move above could see prices testing 49344-49885.

S1:48621 S2:48292 S3:47863
R1:49189 R2:49344 R3:49885

MCX Silver SEP :  

Now support for the silver is seen at 52412 and below could see a test of 51649-50850 Resistance is now likely to be seen at 53285 a move above could see prices testing 53857-54645.

S1:52412 S2:51649 S3:50850
R1:53285 R2:53857 R3:54645

MCX Crude Oil JUL :  

Now support for the Crude is seen at 2880 and below could see a test of 2504. Resistance is now likely to be seen at 3095, a move above could see prices testing 3211-3366.

S1:2880 S2:2712 S3:2504
R1:3095 R2:3211 R3:3366

MCX Copper JUL :  

Now support for Copper is seen at 495.50 and below could see a test of 486.55-474.70. Resistance is now likely to be seen at 509.85, a move above could see prices testing 514.40-523.55

S1:495.50 S2:486.55 S3:474.70
R1:509.85 R2:514.40 R3:523.55

MCX Nickel JUL :  

Now support for the Nickel is seen at 953.65 and below could see a test of 925.80-881.25 Resistance is now likely to be seen at 994.20, a move above could see prices testing 1018.95-1034

S1:953.65 S2:925.80 S3:881.25
R1:994.20 R2:1018.95 R3:1034

MCX NG JUL :  

Now support for the Natural Gas is seen at 124.75 and below could see a test of 118.80-107.25. Resistance is now likely to be seen at 139.70, a move above could see prices testing 146.95-154.80

S1:124.75 S2:118.80 S3:107.25
R1:139.70 R2:146.95 R3:154.80

JUL 22nd :

Existing Home Sales :
Previous: 3.91M Actual: 4.80M
Actual > Forecast is good for Dollar

JUL 22nd :

Crude Oil Inventories:
Previous: -7.5M Forecast: 0.5M

JUL 23rd :

Unemployment Claims :
Previous: 1300K Forecast: 1280K
Actual < Forecast is good for Dollar

JUL 23rd :

CB Leading Index m/m :
Previous: 2.8% Forecast: 2.1%
Actual > Forecast is good for Dollar

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