-- Published: Tuesday, 11 February 2014 | Print | Disqus
- Technically gold, silver, copper and crude oil are all bullish.
Federal reserve Chairman's testimony before the US congress will be the key. I am not concerned over the interest rate outlook which I believe will be hawkish. Forward guidance on the US economy will be the key. So far this year the bank of England and the European central bank forward guidance of previous years have not been followed. Investors will not follow forward guidance of central banks if they keep on backtracking on the same. The Federal reserve in order to maintain its credibility needs to ensure that forward guidance views on interest rates and other policy changes are implemented as and when the desired conditions are met.
Gold can rise to $1326 as long as it trades over $1263. Silver looks headed for $2074-$2125 as long as it trades over $1960.
COMEX TECHNICAL VIEW
COMEX COPPER MARCH 2014 – current price $322.05
Bullish over $322.00 with $326.00 -$331.00 as price target
Bearish below $319.00 with $316.10-$312.90 as price target
Neutral Zone between: $319.00-$322.00
Break point: $317.60-$322.10
- Copper needs to trade over $321 this week to target $331-$336
- There will be buyers on dips as long as copper trades over $318
- Chinese demand will be the key for copper
MCX NATURAL GAS FEBRUARY - prices in Indian rupees below
Natural gas is one of the hottest trading stuff for investors. We believe that a medium term top has been formed and gas should fall to 214.50 by April end as long as does not break 363.60.
Today's view: Natural gas can fall to 268.10 and 251.20 by tomorrow as long as it trades below 301.80
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.
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NOTES TO THE ABOVE REPORT
UK session starts around 2:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories
US session starts at 7pm pm Indian Standard Time (+5:30 GMT)
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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-- Published: Tuesday, 11 February 2014 | E-Mail | Print | Source: GoldSeek.com