-- Published: Wednesday, 18 February 2015 | Print | Disqus
Focus is on Greece and Ukraine. NATO is hell bent on making Ukraine a part of its territory. There can be chances of a future full scale open war between Russia and NATO. Chinese demand at the beginning of their New Year has been high. However apprehensions remain over the continuity over the same.
Gold is still not in a bear phase. To me it is in a consolidation phase of $1140-$1324. Silver I am confident will lure long term investors once again if it trades around $15.00 and below at anytime until next month.
TECHNICAL VIEW
COMEX GOLD APRIL 2015 – current price $1207.80
Bullish over $1203.10 with $1212.60 and $1231.80 price target
Bearish below $1197.10 with $1192.20 and $1177.80 as price target
Neutral Zone between $1197.10 and $1203.10
Jobbers aggressive buy over: $1212 (if gold trades over this price in UK/US session) for $1217.10 and $1228.30 stop loss $1207.10
Jobbers aggressive sell below: $1197.00 (at any time of the day) for $1192.90 and $1182.90 stop loss $1201.10
- The next wave of selling will be there only if gold trades below $1197 either in the UK session or the US session.
- Trade carefully between the $1197 and $1212 zone, despite the bearish momentum.
- Jobbers watch $1208.10 and $1197.90 all the time.
MCX SILVER MARCH 2015 – prices in Indian rupees below
Key support till Friday is at 35698. The next wave of selling will be only below 35698 to 34709 and 33630. Overall trend is still bearish and silver needs to trade over 36800 till Friday to attract buyers.
NYMEX CRUDE OIL (1ST CONTRACT) - current price $53.22
Bullish over $51.00 with $55.70-$56.50 as price target
Bearish below $49.80 with $49.00 and $46.70 as price target
Jobbers buy over: $53.10 stop loss $52.40 for $54.10-$55.70
Jobbers sell below: $52.20 stop loss $53.10 for $51.30 and $50.30
- Crude oil can rise to 54.50-55.70 as long as it trades over 52.20
- There will be another wave of selling if crude oil trades below $52.20 either in the UK session or the US session.
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: Wednesday, 18 February 2015 | E-Mail | Print | Source: GoldSeek.com
