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 WhatNext ???



-OCT 27th, 2014

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

"Gold prices will rise to $1245 to $1268 and Silver upto $17.83 to $18.45." -PrataP Kumar Kolagatla, Chairman, sQuareindia Group

Gold : 21 responded this week, 6 see prices up, while 9 see prices down, and 6 see prices unchanged. especially Trading range will be between $1,223-$1,265 levels.

S1:1232.50 S2 :1225 S3:1206.75
R1:1245.45 R2:1251 R3:1265.50

Silver : Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $16.12-$.18.83 levels.


S1:17.07 S2 :16.75 S3:16.12
R1:17.68 R2:18.05 R3:18.83

Crude : 15 of 25 analysts, forecast Crude Oil will rise in next week. 3 respondents predicted that futures will be little changed and 7 said the contract will fall.

S1:80.35   S2:79.90  S3:79.22
R1:81.43   R2:81.94  R3:82.28

Copper : 11 of 15 analysts, investors and traders surveyed, said the metal will fall next week. while 1 see prices rise, and 3 see prices unchanged. Copper may trade in next week up to 387.70-428.50 levels.

MCX Gold DEC : Now support for the Gold is seen at 27050 and below could see a test of 26980-26715 Resistance is now likely to be seen at 27350 a move above could see prices testing 27500-27856.

S1:27050 S2 :26980 S3:26715
R1:27350 R2:27500 R3:27856

MCX Silver DEC : Now support for the silver is seen at 37900 and below could see a test of 36957-36002 Resistance is now likely to be seen at 39250 a move above could see prices testing 40158-41990.

S1:37900 S2:36957 S3:36002
R1:39250 R2:40158 R3:41990

MCX Crude Oil NOV : Now support for the Crude is seen at 4923 and below could see a test of 4746. Resistance is now likely to be seen at 5045, a move above could see prices testing 5130-5203.

S1:4923 S2:4850 S3:4746
R1:5045 R2:5130 R3:5203

MCX Copper NOV : Now support for Copper is seen at 405.50 and below could see a test of 402.55-391.70. Resistance is now likely to be seen at 415.85, a move above could see prices testing 420.40-429.55

S1:405.50 S2:402.55 S3:391.70
R1:415.85 R2:420.40 R3:429.55

MCX Zinc OCT : Now support for the Zinc is seen at 136.55 and below could see a test of 134.10-132.25. Resistance is now likely to be seen at 140.50, a move above could see prices testing 142.95-144.80

S1:136.55 S2:134.10  S3:132.25
R1:140.50 R2:142.95 R3:144.80

MCX Lead OCT : Now support for the Lead is seen at 119.65 and below could see a test of 117.80-113.25. Resistance is now likely to be seen at 123.20, a move above could see prices testing 125.95-128.80

S1:119.65 S2:117.80  S3:113.25
R1:123.20 R2:125.95 R3:128.80

MCX Nickel OCT : Now support for the Nickel is seen at 880.65 and below could see a test of 857.80-800.25 Resistance is now likely to be seen at 930.20, a move above could see prices testing 970.95-995.80

S1:880.65    S2:857.80   S3:800.25
R1:930.20   R2:970.95   R3:995.80

MCX NG OCT : Now support for the Natural Gas is seen at 216.65 and below could see a test of 210.80-203.25. Resistance is now likely to be seen at 229.20, a move above could see prices testing 237.95-248.80

S1:216.65 S2:210.80  S3:203.25
R1:229.20 R2:237.95 R3:248.80

 
      OCT 28th:
      CB Consumer Confidence:
     
Previous: 86.0 Forecast: 87.4
     
Actual > Forecast = Good for Dollar
      OCT 29th:
      Crude Oil Inventories:
     
Previous: 7.1 Forecast: 3.5M
      OCT 29th:
      Federal Funds Rate:
     
Previous: <0.25% Forecast: <0.25%
      Actual > Forecast = Good for Dollar
      OCT 30th:
      Unemployment Claims:
     
Previous: 283K Forecast: 277K
      Actual < Forecast = Good for Dollar



 

 
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