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What Next ??? - August 4, 2018

Jyothi Rao Anadula Senior Research Analyst sQuareindia Qi

"Gold prices could fall to $1210 to $1195 and Silver upto $15.18 to $14.62" -PrataP Kolagatla, Chairman, sQuareindia Qi Group


Gold :

16 responded this week, 8 see prices up, while 6 see prices down, and 2 see prices unchanged. especially Trading range will be between $1192-$1,249 levels.

S1:1211.45 S2:1200 S3:1192.45
R1:1228.50 R2:1236 R3:1249.50

Silver :

Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $14.58-$16.74 levels.

S1:15.23 S2:14.92 S3:14.58
R1:15.83 R2:16.18 R3:16.74

Crude :

10 of 25 analysts, forecast Crude Oil will fall in next week. 3 respondents predicted that futures will be little changed and 12 said the contract will rise.

S1:67.24 S2:66.31 S3:65.03
R1:69.82 R2:70.13 R3:71.94

Copper :

7 of 14 analysts, investors and traders surveyed, said the metal will fall next week. while 5 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 408.70-441.50 levels.

MCX Gold OCT :

Now support for the Gold is seen at 29451 and below could see a test of 29182-28863 Resistance is now likely to be seen at 29789 a move above could see prices testing 29944-30085.

S1:29451 S2:29182 S3:28863
R1:29789 R2:29944 R3:30085

MCX Silver SEP :

Now support for the silver is seen at 37612 and below could see a test of 37149-36250 Resistance is now likely to be seen at 38885 a move above could see prices testing 39457-40045.

S1:37612 S2:37149 S3:36250
R1:38885 R2:39457 R3:40045

MCX Crude Oil AUG :

Now support for the Crude is seen at 4624 and below could see a test of 4378. Resistance is now likely to be seen at 4810, a move above could see prices testing 4931-5065.

S1:4624 S2:4532 S3:4378
R1:4810 R2:4931 R3:5065

MCX Copper AUG :

Now support for Copper is seen at 414.50 and below could see a test of 409.55-400.70. Resistance is now likely to be seen at 423.85, a move above could see prices testing 428.40-435.55

S1:414.50 S2:409.55 S3:400.70
R1:423.85 R2:428.40 R3:435.55

MCX Zinc AUG :

Now support for the Zinc is seen at 176.35 and below could see a test of 173.20-168.15. Resistance is now likely to be seen at 183.50, a move above could see prices testing 185.95-191.90

S1:176.35 S2:173.20 S3:168.15
R1:183.50 R2:185.95 R3:191.90

MCX Lead AUG :

Now support for the Lead is seen at 142.65 and below could see a test of 139.80-135.25. Resistance is now likely to be seen at 149.55, a move above could see prices testing 153.70-160.80

S1:142.65 S2:139.80 S3:135.25
R1:149.55 R2:153.70 R3:160.80

MCX Nickel AUG :

Now support for the Nickel is seen at 905.65 and below could see a test of 881.80-852.25 Resistance is now likely to be seen at 949.20, a move above could see prices testing 968.95-993.20

S1:905.65 S2:881.80 S3:852.25
R1:949.20 R2:968.95 R3:993.20

MCX NG AUG :

Now support for the Natural Gas is seen at 192.65 and below could see a test of 187.80-182.25. Resistance is now likely to be seen at 201.70, a move above could see prices testing 206.95-213.80

S1:192.65 S2:187.80 S3:182.25
R1:201.70 R2:206.95 R3:213.80

AUG 8th :

Crude Oil Inventories :
Actual: 3.8M Forecast: 2.5M

AUG 9th :

PPI m/m :
Previous: 0.3%  Forecast: 0.2%
Actual > Forecast is good for Dollar

AUG 9th :

Core PPI m/m :
Previous: 0.3% Forecast: 0.3%
Actual > Forecast is good for Dollar

AUG 9th :

Unemployment Claims:
Previous: 218k Forecast : 215k
Actual < Forecast is good for Dollar

AUG 10th :

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

AUG 10th :

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