-- Published: Tuesday, 29 April 2014 | Print | Disqus
- Gold needs to trade over $1286 to be in a bullish zone.
- Silver needs to trade over $1942 to be in a bullish zone
John Kerry is a Vietnam war veteran and through Ukraine it seems he has put on battle fatigues. Kerry is just words for peace and behind it he is just doing the reverse. He is just howling the word "sanctions" to Russia. Is USA trying to take the Snowden revenge through Ukraine? Mr. Putin does not fear "sanctions" and he must have calculated the economic effects on the Russian economy while trying to protect Russian interests in Ukraine. Putin is different from other leaders and Kerry knows it very well. Gold will see another big wave of rise if Ukraine does not get resolved in the month of May. US president Barack Obama and his partymen will need to evaluate the effect Ukraine could have on its votes in November state elections. Political compulsions in the USA could sway Ukraine either side.
We are giving free one month reports service by email to all Indians to have voted in the general elections. Just mail your email id to email@example.com or sms/whatsapp 09311139549 (offer is only for Indians only. Our emphasis is to ensure that more and more people vote and nothing else).
This is just a consolidation phase for gold and silver before the next big three percent one way swing anytime. US economic data releases suggest that foundations have been laid for sustainably higher economic growth. Fundamentally gold and silver are bearish due to lack of demand from all modes of investment.
The next three weeks are the best time for silver to rise. To me silver may have bottomed out and can rise to 22.00 and $25.00 as long as it trades over $18.50. Global economic fundamentals will be the key for silver.
COMEX TECHNICAL VIEW
COMEX GOLD JUNE 2014 – current price $1295.90
Bullish over $1296.00 with $1309.30 and $1319.20 price target
Bearish below $1286.00 with $1281.70 and $1267.10 as price target
Neutral Zone between $1286-$1296
- Gold needs to trade over $1296 to target $1303-$1311
- There will be sellers only if gold trades below $1296 either in the US session or the UK session
MCX GOLD JUNE - PRICES IN INDIAN RUPEES BELOW
Gold needs to trade over 28910 to target 29060-29220. There will be sellers if gold trades below 28910 to 28790-28585. Key medium term resistance is 29060. We prefer to go long only if gold trades over 29060 with a stop loss of 28940.
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
Follow us on Twitter @insigniaconsul1
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)
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
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
Customer care: 9311139549
You can also mail your queries at firstname.lastname@example.org
Chat Id: email@example.com (gtalk), firstname.lastname@example.org (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
| Digg This Article
-- Published: Tuesday, 29 April 2014 | E-Mail | Print | Source: GoldSeek.com