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By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 18 August 2015 | Print  | Disqus 

COMEX FUTURES REPORT

Yesterday my brother asked me whether he should start investing in physical silver. I told him that (a) either silver has bottomed out or (b) silver prices will form a long term bottom in the next twelve months. He was not satisfied with the answer as it seemed a big vague. Then I clarified, that one should start investing in silver in very small amounts at current prices and that he should increase investing on any five percent fall. The general investor will be very scared if silver falls ten percent from here and it is one the reasons why I have asked to invest in very small amounts here. Silver is a great long term investment at current prices. I believe that it is undervalued (relative to gold). I foresee a global silver shortage in two years.  

The focus of investors on Federal Reserve interest rates implies gold and silver trading with a softer bias. Short covering will be there only if gold breaks and trades over $1130 and silver breaks and trades over $1570. However there will be good demand between $1080-$1100 (gold) and $1480-$1500 (silver).

The recent consolidation phase will be broken soon and a new range will be formed. Trade for very small profits till tomorrow.

COMEX TECHNICAL VIEW

COMEX GOLD DECEMBER 2015 – current price $1117.80

Bullish over $1111.00 with $1123.10-$1129 and $1141 as price target

Bearish below $1107.00 with $1101.60 and $1094.60 as price target

Neutral Zone between $1107.00-1111.00

Jobbers aggressive buy over: Buy over $1119 stop loss $1114.90 for $1122-$1129 and $1137

Jobbers sell below: Selling only if gold trades below $1107 either in the UK session or the US session stop loss $1112 for $1101 and $1094

  • Key support is at $1107.60. Gold needs to trade over $1107.60 to rise to $1131.10 and $1142.50.
  • Initial support is at $1113.70
  • There will be sellers if gold trades below $1107 or gold does not break $1131 by tomorrow.

COMEX SILVER SEPTEMBER 2015 – current price $1526.00

Bullish over $1538 with $1562 and $11586 and $1634 as price target

Bearish below $1511 with $1489-$1467 as price target

Neutral Zone between: $1511 and $1538

Jobbers aggressive buy over: Buy if and only if silver trades over $1535 either in the UK session or the US session stop loss $1524 for $1549 and $1561

Jobbers sell below: Selling silver if it trades below $1511 either in the UK session or the US session stop loss $1521 for $1501 and $1484.

  • Only a break of $1565 will result in another wave of rise to $1609 and $1678.
  • Initial support is at $1511 with $1482 as key support.
  • Jobbers watch $1511 and $1538 all the time.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $42.39

Bullish over $43.20 with $44.60 and $46.40 as price target

Bearish below $42.40 with $41.40 and $39.90 as price target

Jobbers buy over: Buy at $38.60 stop loss $35.20 or buy over $45.20 stop loss 43.90 for $47.20

Jobbers sell below: Risky traders sell below $41.40 stop loss $42.10 for $40.60 and $39.70

  • Oversold. Crude oil needs to trade over $40.51 this week to rise to $47.81.
  • There is a support between $38.50-$40.50. I am against selling unless crude oil falls below this zone (for the rest of the month).

COMEX COPPER SEPTEMBER 2014 – current price $236.70

Bullish over $234.60 with $244.60 -$254.60 as price target

Bearish below $230.70 with $227.00-$223.10 as price target

Neutral Zone between: $230.70 and $234.60

  • Copper can rise to $242.10 and $246.40 as long as it trades over $231.00.
  • There will be sellers only below $231.00
  • Remain on the sidelines.

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: Tuesday, 18 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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