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By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 30 March 2015 | Print  | Disqus 

COMEX FUTURES REPORT

This can be a big week for commodity markets as well as foreign exchange markets. We all can get spooked by the same. This is also the best week of the year for manipulation by central banks. Easter holidays are there. Trading volumes will fall. The US releases its March nonfarm payrolls on the “Good Friday” holiday. Those trading in commodity futures needed to be extra careful. US March private ADP numbers releases on “All Fools day” on 1st April. I am prepared for all kinds of scenarios on “All Fools day” so I fool the market and not the reverse.

Once the US March employment numbers are released, the direction of crude oil prices and the US dollar will dictate commodity prices. The Bank of England meeting and The European central bank’s meeting this month will not have any significant impact on currency markets and commodity markets.

TODAY

Direction of crude oil prices and US dollar will the key. In case gold falls today, then demand will be there around $1170-$1180 zone.

COMEX GOLD APRIL 2015 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,175.30

$1,180.10

$1,184.60

$1,190.10

$1,199.20

$1,204.00

$1,209.00

$1,215.00

SILVER MAY 2015 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,630.00

$1,649.00

$1,667.00

$1,679.00

$1,700.00

$1,721.00

$1,737.00

$1,767.00

COPPER MAY 2015 TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$267.50

$270.80

$273.60

$277.10

$282.90

$285.40

$289.10

$293.60

CRUDE OIL (1st Contract)

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$45.30

$46.20

$47.10

$47.70

$48.90

$49.70

$50.60

$51.60

All prices are in US dollar ($) above. Only for reference

         

COMEX TECHNICAL VIEW

COMEX GOLD APRIL 2015 – current price $1193.70

Bullish over $1193.70 with $1206.60 and $1220.30 price target

Bearish below $1184.10 with $1175.20 and $1160.40 as price target

Neutral Zone between $1184.10 and $1193.70

Jobbers aggressive buy over: Buy if gold trades over $1199 in the UK session stop loss $1193 for $1206 and $1214

Jobbers aggressive sell below: Selling only if gold trades below $1193 either in the UK session or the US session stop loss $1199 for $1177.10 and $1160

  • There is a technical congestion between the $1193-$1199 zone. Gold needs to trade over this zone till tomorrow to prevent a sell off to $1175 and $1159.60
  • Take the lower base price of $1193 and do your intraday trades.
  • Trade very carefully between (a) $1160-$1175 zone (b) $1193-$1199 zone

COMEX SILVER MAY 2015 – current price $1691.00

Bullish over $1688 with $1726 and $1773 as price target

Bearish below $1649 with $1630 and $1602 as price target

Neutral Zone between: $1649 and $1688

Jobbers aggressive buy over:  Buy over $1700 stop loss $1686 for $1726-$1747 and $1801 (use a strict stop loss in this call)

Jobbers aggressive sell below: Selling only if silver trades below $1676 either in the UK session or the US session stop loss $1691 for $1657 and $1627 (very high risk call)

  • There is a support in silver on every $25 fall till $1575. It remains to be seen if silver is able to hold on to the supports.
  • Today silver needs to trade over $1700 for the whole day to rise to $1770.

COMEX COPPER MAY 2014 – current price $277.05

Bullish over $277.10 with $284.60 -$294.60 as price target

Bearish below $273.20 with $268.90-$263.60 as price target

Neutral Zone between: $273.30 and $277.10

  • Copper needs to trade over $277.50 today to rise to $283
  • There will be sellers only if copper trades below $277.50 either in the UK session or the US session.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $48.14

Bullish over $48.90 with $49.75-$52.40 as price target

Bearish below $48.10 with $47.20 and $46.10 as price target

Jobbers buy over: $49.70 stop loss $49.10 for $50.80-$51.60

Jobbers sell below: Remain on the sell side as long as crude oil trades below $48.70

  • Crude oil key support between $42.10-$45.30. It needs to trade over this zone for the whole of April to be in a bullish zone.
  • In April, crude oil will break free from the $42-$49-$55.70 range and form a new range.

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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 -- Published: Monday, 30 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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