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Asian Metals Market Update

By: Manan Somani, Insignia Consultants

 -- Published: Monday, 17 March 2014 | Print  | Disqus 


Nothing official about the USA not accepting Crimean referendum. This has been the way with the USA and its NATO allies after world war two which included breaking up of erstwhile USSR. It is all about leadership and hopefully Russia is under a strong leader. The USA and its post world war two NATO allies have had indirect control of key natural resources regions of the world on some charge or the other. Afghanistan president Karzai is trying his best to ensure that US troops are not permanently stationed there. I am very sure there will be a political coup there and Mr. Karzai will be removed before the December end deadline.  This implies continued tensions between the USA and Russia and firm gold and silver prices. I am not sure whether the Federal reserve meet can reverse the bullish direction of gold due to Ukraine.

World air travel may be changed after the tragic vanishing act by the Malaysian airline plane. There is one thing for sure, more and more highly educated and highly skilled people are becoming religious maniacs. This is not good for global peace and prosperity. These few idiots like the pilots of the Malaysian airline create another big damage to their religion. Though I still believe that the western state heads are a bigger terror to the common man and small nations and that in the name of globalization they indirectly annex nations. The phrase "Trade sanctions", "Global isolation" etc are just some form of indirect invasion and nothing else.

Future outlook on interest rates by the Federal reserve will be the key. A $10 billion taper has been factored in by the markets. A hawkish federal reserve this week can result in more losses for the greenback and continuity of rise for gold and silver. Copper and other industrial metal should form a bottom this week and start to rise. Chinese will take steps to ensure that there is higher growth in their region.


COMEX GOLD APRIL 2014 – current price $1382.60

Bullish over $1365.10 with $1393 and $1411.00 price target

Bearish below $1355.00 with $1347 and $1331.00 as price target

Neutral Zone between $1355.00-$1365

Break point: $1393.00

  • A break of $1393 will result in $1409-$1419
  • There will be sellers only if gold trades below $1378 either in UK session or US session

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $99.11

Bullish over $98.60 with $100.80 and $102.20 as price target

Bearish below $97.90 with $97.40 and $96.90 as price target

Break point: $99.30

  • Crude oil can rise to $100.80 and $102.80 as long as it trades over $97.90
  • One needs to trade very carefully between $96.80 and $99.40. In case crude oil is able to trade over $96.80-$99.40 zone till Monday then it can still rise to $104.
  • We prefer to be on the long side as long as crude oil trades over $95.00 this week.

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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"Print this report only if absolutely necessary. Save Paper. Save Trees."


UK session starts around 1:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)




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