-- Published: Wednesday, 14 October 2015 | Print | Disqus
COMEX FUTURES REPORT
Syria is having a positive effect on gold prices. The higher upward prices will result in continued demand with every price fall (if any) in gold and silver. A weaker US dollar is further aiding them. Silver under performs as Chinese industrial activity continues to fall.
US September retail sales number is the key today. This will tell us the state of US economy and interest rate factor. A daily close over $1150 today will be bullish for gold for the rest of the month. A daily close over $1176 today will be hyper bullish for gold for another seven trading sessions.
Silver will see a big rise only if it trades over $1605.
COMEX TECHNICAL VIEW
COMEX GOLD DECEMBER 2015 – current price $1172.10
Bullish over $1159.10 with $1179.60 and $1196.80 as price target
Bearish below $1149.70 with $1142.90 and $1136.80 as price target
Neutral Zone between $1149.70.10-$1159.10
Jobbers aggressive buy over: Buy at $1141-$1142 stop loss $1136 for $1167-$1179 or buy over $1174 stop loss $1168.30 for $1183.40 and $1191.90
Jobbers sell below: Sell below $1168 strict stop loss $1173.10 for $1161.10 and $1157.60
- A break of $1174.10 will result in $1187 and $1196.
- Initial support is at $1159.
COMEX SILVER DECEMBER 2015 – current price $1598.00
Bullish over $1582 with $1614-$1637 and $1675.50 as price target
Bearish below $1555 with $1537-$1517 and $1484 as price target
Neutral Zone between: $1555 and $1582
Jobbers aggressive buy over: Buy at $1535 stop loss $1502 for $1632 and $1676 or buy if silver trades over $1605 stop loss $1588 for 1632 and $1675
Jobbers sell below: Selling silver if it trades below $1560 stop loss $1572 for $1547-1537-$1514
- A break of $1605 will result in $1632-$1675 and $1735.
- Initial support is at $1555 with $1533 as the key support.
NYMEX CRUDE OIL (1ST CONTRACT) - current price $46.74
Bullish over $48.70 with $50.90-$52.40 and $55.30 as price target
Bearish below $47.10 with $44.30 and $43.10 as price target
Jobbers buy over: Buy over $48.30 stop loss $47.40 for $50.30
Jobbers sell below: Selling only if crude oil trades below $46.70 stop loss $47.20 for $45.70 and $44.70
- Crude oil needs to trade over $46.60 to rise to $50.00.
- There will be sellers only below $46.60 to with $45.20 and $43.70 as key support.
COMEX COPPER DECEMBER 2015 – current price $238.90
Bullish over $237.10 with $245.30 and $252.10 as price target
Bearish below $234.10 with $231.60-$227.60 as price target
Neutral Zone between: $234.10 and $237.10
- Copper needs to trade over $235.40 today to prevent another sell off to $229.40
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, 14 October 2015 | E-Mail | Print | Source: GoldSeek.com