-- Posted Wednesday, 17 October 2012 | | Disqus
Executive Summary
· Moody's leaves Spain sovereign rating at investment grade. No impact on the markets
General market conditions
A weaker US dollar, higher stock markets, technical bullishness and huge physical demand of gold in India and other Asian nations has resulted in gains for gold and silver. Copper and crude oil are looking bullish. As long as the US dollar continues to weaken commodities will rise further.
Trading strategy for the very large traders and high risk traders
COMEX COPPER: Buy on dips with a stop loss below $362
NYMEX CRUDE OIL: Sell on rise with a stop loss of over $95.50
COMEX TECHNICAL VIEW
COMEX COPPER DECEMBER 2012 – current price $372.10
Bullish over $373.80 with $380.40 -$390.80 as price target
Bearish below $363.45 with $360.10-$350.60 as price target
Neutral Zone between: $363.45-$373.40
Break point: $373.80
- Copper needs to trade over $373 to target $378-$387
- Only a daily close below $366 will result in a bearish zone.
MCX ZINC NOVEMBER (all prices in Indian rupees below)
Zinc is trading around Rs.100. The key long term support is at 88.00. With every fall from there the risk to return ratio is in favor of the buyer. We do not expect MCX zinc prices to fall below 88.00 for the rest of the year. One can invest in MCX zinc at current prices in small lots and average on every 4-5 dip with a stop loss below 84.0. With every fall zinc provides the best low risk investment. Low risk traders can buy MCX zinc mini one lot at current market prices with the above average out strategy.
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. Prepared by Chintan Karnani
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.
Trade without emotions
"Print this report only if absolutely necessary. Save Paper. Save Trees."
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
Customer care: 9311139549
You can also mail your queries at insigniacommodity@gmail.com
Chat Id: mcxsuretips@gmail.com (gtalk), insigniaconsultants@yahoo.com (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
-- Posted Wednesday, 17 October 2012 | Digg This Article | Source: GoldSeek.com