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By: Manan Somani, Insignia Consultants

 -- Published: Wednesday, 14 May 2014 | Print  | Disqus 

Gold at $1294 is a neutral zone. Silver at $1954 is a neutral zone. Gold and silver will break free from the recent consolidation phase and form a new range very soon. In the next three weeks gold will either rise to $1362 or fall to $1230 and $1205. There will be nothing in between. Silver for the rest of the year needs to trade over $1770 to target $2300-$2600. A big crash in silver will come only if silver falls below $1770 at anytime for the rest of the year. Those who wish to invest in physical silver for a period of five years should use 2014's fall to invest. Short term silver investors need to be cautious while investing in silver.

The focus will be on the US economy and the European economy. A strong economy will be bullish for these nations and vice-versa.  Gold traders are waiting for the election results in India.

COMEX TECHNICAL VIEW

COMEX GOLD JUNE 2014 – current price $1293.20

Bullish over $1289.00 with $1307.00 and $1319.00 price target

Bearish below $1279.00 with $1269.00 and $1259.00 as price target

Neutral Zone between $1279-$1289

  • Gold needs to will fall below $1286 or break $1305 for direction
  • There will be buyers on dips as long as gold trades over $1277-$1286 zone

GOLD JUNE 2014 TECHNICAL LEVELS 

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,275.00

$1,280.20

$1,284.30

$1,292.20

$1,303.10

$1,311.00

$1,316.90

$1,331.00

SILVER JULY 2014 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,906.00

$1,921.00

$1,932.00

$1,949.00

$1,969.00

$1,984.00

$2,008.00

$2,045.00

COPPER JULY 2014 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$304.00

$305.25

$307.10

$312.10

$315.10

$317.00

$321.40

$323.90

CRUDE OIL (1st Contract)

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$99.56

$100.18

$101.40

$101.90

$102.20

$102.90

$103.30

$105.20

All prices are in US dollar ($) above

 

COMEX SILVER JULY 2014 – current price $1952.50

Bullish over $1932 with $1957 and $1992 as price target

Bearish below $1920 with $1898-$1868 as price target

Neutral Zone between: $1920-$1932

  • Silver needs to trade over $1937 to target $1975 and $2008
  • Silver will crash only if gold and copper both fall.
  • Today there will be sellers only if silver trades below $1932 either in UK session or US session

COMEX COPPER JULY 2014 – current price $312.65

Bullish over $311.00 with $317.00 -$323.0 as price target

Bearish below $308.50 with $307.00 and $303.00 as price target

Neutral Zone between: $308.50-$311.00

  • Copper looks headed for $323 in short term as long as it trades over $310
  • There will be sellers only below $310

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $101.96

Bullish over $101.20 with $102.80 and $105.10 as price target

Bearish below $100.60 with $99.90 and $99.10 as price target

  • A consolidated break of $102.20 will result in $104 and $105.50
  • There will be sellers only below $101.20

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

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)

 


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 -- Published: Wednesday, 14 May 2014 | E-Mail  | Print  | Source: GoldSeek.com

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