-- Posted Monday, 13 August 2012 | | Disqus
There is not much economic data to discuss this week. It will be a technical trade. The London Olympics are over and European leaders will now take a serious look at their economies and take decision. The Focus will be on Europe this week. After China last week even the Japanese economy is showing signs of a cooling.
Physical demand of gold in India is still subdued despite the ongoing festival time. It seems retail spenders are spending more time in the discount sales which are there around the Independence Day.
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 $1632 for $1637-$1642-$1657
SILVER SEPTEMBER 2012: Buy over $2825 for $2845-$2896-$2960
COPPER SEPTEMBER 2012: sell below $339 for $336.50-$332.50
NYMEX CRUDE OIL: Sell below $93.0 for $91.50-$90.50
COMEX COPPER SEPTEMBER 2012 – current price $339.50
Trading Strategy: Fresh wave of selling below $336.50
Bullish over $339 with $343 -$349 as price target
Bearish below $336 with $332.25-$327 as price target
Neutral Zone between: $336-$339
Break point: $349.10
- $336 is the key support and copper needs to trade below $336 today to be in bearish zone.
- There will be sellers on rise as long as copper trades below $347
- Trading call: Sell around $347 stop loss $354 target $331.80-$319.10 (call till tomorrow)
MCX NICKEL AUGUST
(All prices are in Indian rupees below)
Bullish over 868 with 892-912 as price target
Bearish below 843 with 812 and 745 as price target
BREAK POINT: 845
- 845 is the key long term support and Nickel can fall to 787.90 if there a fall below 845 in US session any day in the week.
- Only a daily close over 881 for three consecutive days will resume the bullish trend else rise is nothing but a selling opportunity.
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 Monday, 13 August 2012 | Digg This Article
| Source: GoldSeek.com
