-- Posted Tuesday, 30 April 2013 | | Disqus
- Position squaring and rebuilding for the Federal Reserve meeting begins.
I expect the Federal Reserve meeting to explicitly state that there will not be an early withdrawal to quantitative easing. This will prevent gold and silver from a major crash. The Federal Reserve’s view on the US economy will be more important than anything else and can turn the market’s upside down. Technically gold, silver and crude oil are in a bullish zone while copper is in a neutral zone.
Physical demand of gold and silver may come off a bit today as prices have stabilized. Premiums in gold and silver in India should also fall marginally.
NEW Our commitment towards nature
For view prices of any financial instrument replace your desktop with a laptop. Laptop consumes less energy and also has a power backup. In energy deficient nations like India using a laptop also reduces the need to for UPS inverters. You reduce your electricity consumption – you save nature.
COMEX TECHNICAL VIEW
COMEX GOLD JUNE 2013 – current price $1472.20
Bullish over $1455.00 with $1496.10 and $1519.00 price target
Bearish below $1439.00 with $1420.00 and $1396.00 as price target
Neutral Zone between $1439-$1455
Break point: $1464
- Gold needs to trade over $1455 for the whole day to target $1484-$1511
- On the lower side as long as gold trades over $1442 downside risk will be limited
COMEX SILVER MAY 2013 – current price $2433.00
Bullish over $2360 with $2498-2614 as price target
Bearish below $2320 with $2276-$2220 as price target
Neutral Zone between: $2320-$2360
Break point: $2450
- Silver needs to trade over $2390 to target $2478-$2602
- Bearish trend will be there only on a fall below $2360
MCX GOLD JUNE 2013 – prices in Indian rupees below
Gold needs to break 27660 in the next seven days for 28200-29200. In case gold does not break 27660 in the next seven days gold will fall to 26550 and 25200.
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 Manan Somani
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 Tuesday, 30 April 2013 | Digg This Article | Source: GoldSeek.com