-- Posted Tuesday, 17 April 2012 | | Disqus
US retail sales data suggest that the Federal Reserve will not announce any further quantitative easing. The only nip in the bid is Europe which still haunts investors. Fundamentally gold should fall while silver, copper and other base metals and energies should remain firm. The reverse is happening as investors still have no faith in currencies and treasuries of Europe and the USA. Unless faith is restored in treasuries bullion and other safe havens will attract investor interest.
Higher crude oil prices have a lagging effect on the global economy. Crude oil prices are still over $100. Global economic fundamentals will change to mild slowdown if crude oil prices float over $100 for the rest of the quarter.
COMEX BUY ABOVE/SELL BELOW CALLS – ONLY FOR THOSE TRADERS WHO TRADE ON TRADING SCREENS
(To be done on which ever trading call is executed first)
GOLD JUNE 2012: Buy over $1656 for $1662-$1671-$1683 or sell below $1649 for $1643-$1639 and $1625
SILVER MAY 2012: Buy over $3160 for $3196-$3215-$3296 or sell below $3125 for $3115-$3098-$3045
COPPER MAY 2012: Buy over $364 for $369.50-$374 or sell below $361 for $358.50-$353
NYMEX CRUDE OIL: Sell below $102.20 for $101.60-$100.80 or buy over $103.30 for $103.80-$105.20
COMEX GOLD JUNE 2012 – current price $1652.90
Trading Strategy: neutral watch $1649
Bullish over $1654 with $1669 and $1684 price target
Bearish below $1646 with $1635.80 and $1602 as price target
Neutral Zone between $1646-$1654
Break point: $1649-$1659
- Gold has a technical congestion between $1649-$1658 and it needs to trade over this zone to target $1670+
- There will be sellers only below $1649
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice.
Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.
Happy profitable trading
NOTES TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
APPROPRIATE STOP LOSSES PER LOT IN US DOLLARS ON THE TRADING CALLS GIVEN IN THIS REPORT
COMEX GOLD – $15-$17
COMEX SILVER: $25-$30
COMEX COPPER: $3
NYMEX CRUDE OIL: $0.60
SPOT SILVER: $0.25
SPOT GOLD: $15-$17
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Posted Tuesday, 17 April 2012 | Digg This Article | Source: GoldSeek.com