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-Dec 6th, 2014

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

"Gold will trade down till $1175-$1152 and Silver at $15.85 to $15.23 " -PrataP Kumar Kolagatla, Chairman, sQuareindia Group

Gold : 21 responded this week, 7 see prices up, while 10 see prices down, and 4 see prices unchanged. especially Trading range will be between $1,147-$1,248 levels.

S1:1180.50 S2 :1171 S3:1152.50
R1:1201.45 R2:1213 R3:1248.50

Silver : Silver Prices remain volatile, but the tone toward the metal remains high, especially Trading range will be between $15.83-$.17.25 levels.


S1:16.90 S2 :16.56 S3:15.83
R1:16.48 R2:16.75 R3:17.25

Crude : 9 of 15 analysts, forecast Crude Oil will rise in next week. 4 respondents predicted that futures will be little changed and 2 said the contract will fall.

S1:65.20   S2:64.89  S3:64.28
R1:65.92   R2:66.26  R3:66.94

Copper : 11 of 21 analysts, investors and traders surveyed, said the metal will fall next week. while 8 see prices rise, and 2 see prices unchanged. Copper may trade in next week up to 385.70-423.50 levels.

MCX Gold FEB : Now support for the Gold is seen at 26120 and below could see a test of 25983-25645 Resistance is now likely to be seen at 26485 a move above could see prices testing 26600-26956.

S1:26120 S2 :25983 S3:25645
R1:26485 R2:26600 R3:26956

MCX Silver MAR : Now support for the silver is seen at 35800 and below could see a test of 34157-32802 Resistance is now likely to be seen at 37250 a move above could see prices testing 37858-38790.

S1:35800 S2:34157 S3:32804
R1:37250 R2:37858 R3:38790

MCX Crude Oil DEC : Now support for the Crude is seen at 4086 and below could see a test of 3930. Resistance is now likely to be seen at 4195, a move above could see prices testing 4253-4341.

S1:4082 S2:4028 S3:3930
R1:4195 R2:4253 R3:4341

MCX Copper FEB : Now support for Copper is seen at 395.50 and below could see a test of 389.55-376.70. Resistance is now likely to be seen at 409.85, a move above could see prices testing 415.40-427.55

S1:395.50 S2:389.55 S3:376.70
R1:409.85 R2:415.40 R3:427.55

MCX Zinc DEC : Now support for the Zinc is seen at 136.55 and below could see a test of 134.10-129.25. Resistance is now likely to be seen at 140.50, a move above could see prices testing 142.95-146.80

S1:136.55 S2:134.10  S3:129.25
R1:140.50 R2:142.95 R3:146.80

MCX Lead DEC : Now support for the Lead is seen at 123.65 and below could see a test of 121.80-116.25. Resistance is now likely to be seen at 1298.20, a move above could see prices testing 130.95-135.80

S1:123.65 S2:121.80  S3:116.25
R1:128.20 R2:130.95 R3:135.80

MCX Nickel DEC : Now support for the Nickel is seen at 990.65 and below could see a test of 950.80-900.25 Resistance is now likely to be seen at 1068.20, a move above could see prices testing 1094.95-1133.80

S1:990.65    S2:950.80    S3:900.25
R1:1068.20  R2:1094.95  R3:1133.80

MCX NG NOV : Now support for the Natural Gas is seen at 230.65 and below could see a test of 210.80-207.25. Resistance is now likely to be seen at 245.20, a move above could see prices testing 252.95-269.80

S1:230.65 S2:210.80  S3:207.25
R1:245.20 R2:252.95 R3:269.80

 
      DEC 10th:
      Crude Oil Inventories:
     
Previous: -3.7M Forecast: -2.6M
      DEC 11th:
      Core Retail Sales m/m:
     
Previous: 0.3% Forecast: 0.1%
      Actual > Forecast = Good for Dollar
      DEC 11th:
      Retail Sales m/m:
     
Previous: 0.3% Forecast: 0.3%
      Actual > Forecast = Good for Dollar
      DEC 11th:
      Unemployment Claims:
     
Previous: 297K Forecast: 299K
     
Actual < Forecast = Good for Dollar
      DEC 12th:
      PPI m/m:
     
Previous: 0.2% Forecast: -0.1%
     
Actual > Forecast = Good for Dollar
      DEC 12th:
      Prelim UoM Consumer Sentiment:
     
Previous: 88.8 Forecast: 89.6
      Actual > Forecast = Good for Dollar



 

 
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