Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold Seeker Report

Michael Pento: Epic Stock Market And Fixed Income Bubble Will Not End Well
By: Mike Gleason

100% Bullish Signal for Precious Metals Sector
By: Przemyslaw Radomski, CFA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

SWOT Analysis: Is Gold Set to Rise in 2018?
By: Frank Holmes

The Process Through Which the First Major Central Bank Goes Bust Has Begun
By: Graham Summers

The Dow Gold Ratio
By: Rambus

Friday’s COT Report: A WTF Moment For the Ages?
By: Ed Steer

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018
By: John Rubino

Gold Demand in the Singapore Bullion Market
By: BullionStar

 
Search

GoldSeek Web

 
Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 18 August 2014 | Print  | Disqus 

COMEX FUTURES REPORT

Gold and silver will break free of the recent consolidation phase and form a new range. Friday, Indian markets were closed and gold and silver fell. This is an indication that Indian demand (official plus unofficial) is the key to gold and silver prices in the short term (apart from geopolitical factors). All out efforts are being made to curb the progress of ISIS. To me it is a bit too late as the ISIS caliphate is now a dragon which has the capability to expand into Europe in the coming years. Gold and silver will benefit as ISIS expands. The expansion of ISIS will be followed by a collapse in the current values of European nations and the US dollar. (To stop the expansion of ISIS, nations will have to put curbs of facebook and other social networks, which will never be an easy task).

There is a lot of US economic data releases this week. Gold needs to trade over $1280 on a daily closing basis for bulls to have hope. Silver needs to trade over $1915 to be in long term bullish zone. A daily close below $95 in crude oil will trigger the next collapse. Copper will track global equity markets. Unless euro/usd falls below 1.3175, there will be high chances of a rise back to 1.3625-1.3750.

Traders in India will be looking to restocking. They will be using this week’s fall to replenish inventories.

GOLD DECEMBER 2014 TECHNICAL LEVELS 

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,276.30

$1,287.30

$1,292.90

$1,295.40

$1,307.60

$1,310.90

$1,320.40

$1,327.00

SILVER SEPTEMBER 2014 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,903.00

$1,915.00

$1,927.00

$1,937.00

$1,967.00

$1,977.00

$1,984.00

$2,017.00

COPPER SEPTEMBER 2014 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$288.20

$299.85

$304.70

$309.85

$312.70

$315.00

$318.50

$320.90

CRUDE OIL (1st Contract)

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$93.90

$95.70

$96.00

$96.50

$97.30

$97.80

$98.60

$100.70

All prices are in US dollar ($) above

 

COMEX TECHNICAL VIEW

COMEX GOLD DECEMBER 2014 – current price $1300.90

Bullish over $1305 with $1313.10 and $1326.00 price target

Bearish below $1295.00 with $1287.10 and $1279.70 as price target

Neutral Zone between $1295 and $1305

  • Key long term support is at $1286 and a daily close below $1286 for two consecutive days will result in $1273 and $1257
  • Gold has to trade over $1305 for the whole day to attract buyers and rise to $1312.

COMEX SILVER SEPTEMBER 2014 – current price $1954

Bullish over $1976 with $1984 and $2019 as price target

Bearish below $1942 with $1920-$1903 as price target

Neutral Zone between: $1942-$1976

  • Silver needs to trade over $1942 to be in a bullish zone.
  • A daily close below $1960 today will be bearish for silver for the rest of the day
  • Remain on the sidelines

COMEX COPPER SEPTEMBER 2014 – current price $310.90

Bullish over $312.20 with $315.70 -$318.60 as price target

Bearish below $310.30 with $07.80 and $302.90 as price target

Neutral Zone between: $310.30-$312.20

  • A daily close below $309.80 today will be the trigger for the next collapse for copper
  • We are against going long at current prices. One should wait till US session open.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $96.89

Bullish over $96.30 with $98.70 and $101.70 as price target

Bearish below $95.00 with $93.90 and $91.90 as price target

  • Long term support is at $95.00 and crude oil needs to trade over $95.00 to prevent a crash to $90.50
  • Jobbers watch $97.30

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 Chintan Karnani

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)

 


| Digg This Article
 -- Published: Monday, 18 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.