-- Published: Monday, 5 January 2015 | Print | Disqus
This is a big week for commodities as well as currency markets. Trading volumes return to full. The New Year hangover is also over. Investors and traders now get serious. Everyone will be searching for the dark ugly horse for investment which can show surprises and come out as a winner. Silver, crude oil and Nickel could be in that league but in the second half of the year. Just remember that anything can happen. There will be very sharp movement in the week. But there should be a directional change in all commodities.
Greece will not exit the euro. If they exit, then many more southern European nations could follow Greece. Greece will be supportive of gold and silver in the medium term.
Remain on the sidelines. I am not sure if gold and silver will fall due to the fall in the euro.
COMEX SILVER MARCH 2015 – current price $1595.00
Bullish over $1575 with $1655-$1731 as price target
Bearish below $1543 with $1531-$1510 as price target
Neutral Zone between: $1543-$1575
- Silver needs to trade over $1575 today to rise to $1655 and $1741
- There will be another wave of selling only below $1575
- Jobbers watch $1599 and $1536.
- We prefer to buy silver if it trades over $1599
MCX SILVER MARCH 2014 – prices in Indian Rupees below
Silver view till the end of February: Silver can rise to 41259 and 48589 as long as it trades over 31260. Initial support is at 34712. However the next two weeks are very crucial for silver. Silver needs to remain firm in the next two weeks to reach my higher price targets.
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.
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NOTES TO THE ABOVE REPORT
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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
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-- Published: Monday, 5 January 2015 | E-Mail | Print | Source: GoldSeek.com