-- Posted Friday, 20 December 2013 | | Disqus
Energy prices are on the rise before the New Year which should lend support to gold and silver at some point of time before the close of the year. Momentum is bearish but technically oversold. The US dollar has not gained in a big way against the euro or cable despite the tapering suggesting investor optimism on eurozone growth and UK growth for next year. Trading volumes from the Eurozone will be very nil for the rest of the year in commodities. There will be brief periods over very sharp moves. Value based physical gold demand from China and India should lend support to gold prices. Long term buy stop losses will be triggered if and when gold prices fall below $1140. (anytime now till end January 2014).
There is a technical congestion between $1186 and $1192 and there will be another wave of selling only on a fall below $1186 to $1176 and $1149. Silver needs to trade over $1898 today to be in a bullish zone. Silver will crash if and only if both gold and copper fall simultaneously.
Enjoy the Christmas and New Year vacations. Till the 3rd January 2014, trade very carefully. A bad trade can result in very huge losses. All of us would like to end the year on a profitable trade and also start the New Year with a profitable trade. Let’s end the year on a profitable note and let the jingle bells roar.
COMEX TECHNICAL VIEW
COMEX SILVER MARCH 2014 – current price $1920.50
Bullish over $1900.50 with $1968-$2045 as price target
Bearish below $1888 with $1868.40-$1810 as price target
Neutral Zone between: $1888-$1900.50
Break point: $1932.00-$1900.50
- Silver can rise to $1968-$2040 as long as it trades over $1900.50
- Silver will crash if and only if copper and gold both fall.
- There will be another wave of selling if silver trades below $1900.50 in US session.
MCX SILVER MARCH 2014 – prices in Indian Rupee below
Key support is at 43482 and there will be another wave of selling if and only if silver trades below 43482. As long as silver trades over 43482 the chances of a rise to 44456 and 45380 are very high. Better to remain on the sidelines 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. 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 Friday, 20 December 2013 | Digg This Article
| Source: GoldSeek.com
