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 WhatNext ???



-Aug 23rd, 2014

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

"Gold prices could rise to $1296 to $1309 and Silver upto $20.05 to $20.97" -PrataP Kumar Kolagatla, Chairman, sQuareindia Group

Gold : 23 responded this week, 8 see prices up, while 12 see prices down, and 3 see prices unchanged. especially Trading range will be between $1,248-$1,319 levels.

S1:1273.50 S2 :1265 S3:1248.75
R1:1292.45 R2:1309 R3:1319.50

Silver : Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $17.96-$.21.63 levels.


S1:19.05 S2 :18.65 S3:17.96
R1:20.25 R2:20.98 R3:21.63

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.

S1:92.83   S2:92.28  S3:91.65
R1:93.75   R2:94.26  R3:94.08

Copper : 9 of 20 analysts, investors and traders surveyed, said the metal will fall next week. while 8 see prices rise, and 3 see prices unchanged. Copper may trade in next week up to 303.70-442.50 levels.

MCX Gold OCT : Now support for the Gold is seen at 27700 and below could see a test of 27556-27225 Resistance is now likely to be seen at 27958 a move above could see prices testing 28162-29356.

S1:27700 S2 :27556 S3:27225
R1:27958 R2:28162 R3:29356

MCX Silver SEP : Now support for the silver is seen at 41200 and below could see a test of 40157-39042 Resistance is now likely to be seen at 42850 a move above could see prices testing 43058-45990.

S1:41200 S2:40157 S3:39042
R1:42850 R2:43058 R3:45990

MCX Crude Oil AUG : Now support for the Crude is seen at 5623 and below could see a test of 5446. Resistance is now likely to be seen at 5730, a move above could see prices testing 5795-5890.

S1:5623 S2:5532 S3:5446
R1:5730 R2:5795 R3:5890

MCX Copper AUG : Now support for Copper is seen at 422.50 and below could see a test of 417.55-408.70. Resistance is now likely to be seen at 433.85, a move above could see prices testing 439.40-447.55

S1:422.50 S2:417.55 S3:408.70
R1:433.85 R2:439.40 R3:447.55

MCX Zinc AUG : Now support for the Zinc is seen at 138.55 and below could see a test of 136.10-133.25. Resistance is now likely to be seen at 143.50, a move above could see prices testing 145.95-149.80

S1:138.55 S2:136.10  S3:133.25
R1:143.50 R2:145.95 R3:149.80

MCX Lead AUG : Now support for the Lead is seen at 134.65 and below could see a test of 132.80-129.25. Resistance is now likely to be seen at 138.20, a move above could see prices testing 141.95-143.80

S1:134.65 S2:132.80  S3:129.25
R1:138.20 R2:141.95 R3:143.80

MCX Nickel AUG : Now support for the Nickel is seen at 1100.65 and below could see a test of 1075.80-1008.25 Resistance is now likely to be seen at 1156.20, a move above could see prices testing 1193.95-1225.80

S1:1100.65  S2:1075.80  S3:1008.25
R1:1156.20  R2:1193.95  R3:1225.80

MCX NG AUG : Now support for the Natural Gas is seen at 326.65 and below could see a test of 320.80-212.25. Resistance is now likely to be seen at 236.20, a move above could see prices testing 244.95-257.80

S1:226.65 S2:220.80  S3:212.25
R1:236.20 R2:244.95 R3:257.80

 
      AUG 25th:
      New Home Sales:
     
Previous: 406K Forecast: 426K
     
Actual > Forecast = Good for Dollar
      AUG 26th:
      CB Consumer Confidence:
     
Previous: 90.9 Forecast: 89.1
      Actual > Forecast = Good for Dollar
      AUG 27th:
      Crude Oil Inventories:
     
Previous: -4.5M Forecast: 0.5M
      AUG 28th:
      Prelim GDP q/q:
     
Previous: 4.0% Forecast: 3.9%
      Actual > Forecast = Good for Dollar
      AUG 28th:
      Unemployment Claims:
     
Previous: 299K Forecast: 298K
     
Actual < Forecast = Good for Dollar
      AUG 28th:
      Pending Home Sales m/m:
     
Previous: -1.1% Forecast: 0.6%
      Actual > Forecast = Good for Dollar



 

 
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