-- Posted Thursday, 9 August 2012 | | Disqus
The gains in commodity markets are due to expectations that the bank of England will increase money supply even more and that the Chinese central bank will cut interest rates. As long as money supply rises gold, silver, copper and crude oil will continue to rise. The fall will be there if and only if central banks explicitly say that there will not be any further liquidity dose increases. Money supply will be the theme for investor decisions for the next two months to three months. Excess money will not necessarily translate into higher consumer spending and growth.
A head and shoulder formation is there on the charts in copper and crude oil which suggests another five percent rise in the short term if they are able to float over the current prices.
Trading strategy for the very large traders and high risk traders
COMEX COPPER: Buy only if copper trades over $343 for $346.50-$353
NYMEX CRUDE OIL: Buy only if crude oil trades below $93
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 DECEMBER 2012: Buy over $1621 for $1626-$1632-$1647
SILVER SEPTEMBER 2012: Buy over $2825 for $2845-$2896-$2960
COPPER SEPTEMBER 2012: Buy over $344 for $347.50-$353
NYMEX CRUDE OIL: Sell below $93.0 for $91.50-$90.50
COMEX TECHNICAL VIEW
COMEX COPPER SEPTEMBER 2012 – current price $343.40
Trading Strategy: Watch $343
Bullish over $339 with $347 -$353 as price target
Bearish below $336 with $332.25-$327 as price target
Neutral Zone between: $336-$339
Break point: $343.20
- Copper needs to trade over $343 to target $353-$364
- There will be buyers on dips as long as copper trades over $335
- Trading call: Buy around $337 stop loss $331 for $346-$357
NYMEX CRUDE OIL (1ST CONTRACT) - current price $93.48
Bullish over $90.50 with $94.50 and $97.80 as price target
Bearish below $89.10 with $87.10- and $85.90 as price target
Break point: $93.30
- Crude oil can rise to $94.70-$98.40 as long as it trades over $90.50
- In the short term crude oil can rise to $110 as long as it trades over $86.00
- Trading call: Buy at $91.50 stop loss $89.00 target $95.50-$99.20
MCX CRUDE OIL
(All prices in Indian rupees below)
Bullish over 5145 with -5268-5302-5359 as price target
Bearish below 5110 with 5050-4980 as price target
Neutral Zone: 5110-5145
BREAK POINT: - 5175
- Crude oil needs to trade over 5172 to target 5275-5359. On the lower side as long as 5110 holds downside risk will be limited
- There will be sellers only below 5145 today
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.
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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 Thursday, 9 August 2012 | Digg This Article
| Source: GoldSeek.com
