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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 11 December 2014 | Print  | Disqus 

US November retail sales will be the key to commodity prices as well as the US dollar. A below par number can result in a very sharp rise in metals and a crash in the greenback. Traders will now start taking positions for next week’s Federal Reserve meeting.

The great Mark Mobius says that Chinese stock markets are in a very early stages of a bull run. Stock markets rise and economic performance have a direct correlation. The kick start in the Chinese economy should be very bullish for silver, copper and all ferrous metals and nonferrous metals. The lagging effects of lower energy prices of this year will be felt by way of very high growth in emerging markets. India, China and other emerging markets will ensure that commodities will restart their bull run.

Next year for the commodity trader as well as commodity investors, there are more reasons to cheer than to fear. India, China and other emerging markets will cut interest rates.

There is a general perception among central bankers that if the Federal Reserve sneezes other central banks get Tuberculosis. After the 2013 debacle, most of the central bankers are aligning themselves to ensure that they are healthy whenever the Federal Reserve sneezes.  There will be divergent monetary policies among central bankers, instead of the previous blindly following Federal Reserve. This itself will be bullish for gold and silver.

However gold and silver need to have patience. It will not be a wham bam rise.

TECHNICAL VIEW

COMEX GOLD FEBRUARY 2015 – current price $1229.70

Bullish over $1221 with $1252.00 and $1282.00 price target

Bearish below $1215.00 with $1207.00 and $1194.00 as price target

Neutral Zone between $1215 and $1221

  • Gold can rise to $1252 and $1282 as long as it trades over $1215
  • Initial support is at $1221.
  • There will be sellers only if gold trades below $1221 either in the UK session or the US session.

MCX  CRUDE OIL (1ST CONTRACT)  - PRICES IN INDIAN RUPEES BELOW

Key support is at 3771. There will be another wave of selling below 3771 to 3718 and 3623. Crude oil needs to trade over 3860 till tomorrow to be in an intraday bullish zone.

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)

 


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