Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 15 December 2015 | Print  | Disqus 

COMEX FUTURES REPORT

Sometimes market react (after the FOMC meet) in exactly the opposite way we believe it should. Prepare for any eventuality over the next three days. Keep in mind, the key major support and major resistances of the financial instrument you are trading/investing. Look for a firm direction. If you trade is on the loss making side then use key support/ key resistances to minimize losses.

Momentum trading is only for the high risk traders at the moment. Medium term investors need to wait and watch as the bottom in silver and crude oil is yet to be reached, while gold and copper are in a neutral zone to bearish zone. Long term investors invest in small amounts in all metals and energies. Physical traders or physical dealers of gold and silver hedge in futures market if gold trades below $1030 after the FOMC and hedge silver in futures market if silver trades below $1349 after the FOMC.

Silver can fall to $1254.40 and $1187.10 in case silver does not break $1465 in the next one week. Gold needs to trade over $1027.20 in the next one week to rise to $1127 and $1221.70.

Everyone is short in gold, silver and crude oil. If there are any indications of a sustained rise, then (a) shorts will be get converted into long (b) momentum traders will enter and invest (c) Long term investors and medium term investors will invest (d) Physical traders, jewelers and physical consumers of gold, silver and copper will start buying and increase their inventory levels. The net result will be very big and quick explosion of gold and silver on the higher side. But this will happen if and only if there is a clear indication that the rise in gold, silver, copper and crude oil will be there for a few weeks to a few months.

COMEX TECHNICAL VIEW

COMEX GOLD FEBRUARY 2016 – current price $1063.70

Bullish over $1063.00 with $1081-$1088.20-$1094.70 as price target

Bearish below $1056.60 with $1050.70-$1043.75-$1024.00 as price target

Neutral Zone between $1056.00-$1063.00

Jobbers aggressive buy over: I am against buying unless gold trades over $1070.60 either in UK session or US session strict stop loss $1072.10 for $1088

Jobbers sell below: Sell if and only if gold trades below $1058.70 stop loss $1063.10 for $1054.10-$1049.90 and $1036.10 (high risk call)

  • Gold needs to trade over $1057 today to prevent another wave of sell off.
  • Initial support is at $1058.30.
  • There will be buyers only if gold trades over $1070.

COMEX SILVER MARCH 2016 – current price $1370.50

Bullish over $1412 with $1437 - $1456-$1494 as price target

Bearish below $1398 with $1350.50-$1338 and $1298 as price target

Neutral Zone between: $1398 and $1412

Jobbers aggressive buy over: Buy at $1311 stop loss $1396 for $1376-$1414 or buy over $1407 stop loss $1398 for $1454.

Jobbers sell below: High risk traders sell silver below $1364 stop loss $1381 for $1349.90 and $1327.

  • Silver needs to trade over $1364 till tomorrow to prevent a fall to $1338 and $1298
  • Initial support is at $1364 with $1338 as the key weekly support.
  • There will be buyers only if silver trades over $1390.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $36.28

Bullish over $37.10 with $40.70-$42.20-$44.90 as price target

Bearish below $35.50 with $33.80-$32.10 as price target

Jobbers buy over: Buy at $32.20 stop loss $31.60 for $36.10 and $38.30

Jobbers sell below: Selling only if crude oil trades below $35.70 stop loss $36.300 for $33.90 and $32.10

  • Crude oil can fall to $32.10 and $30.60 as long as it trades below $38.70.
  • Initial support is at $33.90. Initial resistance is at $36.80

COMEX COPPER MARCH 2016 – current price $210.80

Bullish over $208.70 with $216.80 and $221.90 as price target

Bearish below $204.10 with $199.10-$195.80 as price target

Neutral Zone between: $204.10 and $208.70

  • Copper can rise to $220.80 and $227 this week as long as it trades over $207.
  • A daily close over $212 today will be very bullish for tomorrow
  • There will be sellers only if copper trades below $208 either in UK session or 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.

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 2:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 7pm 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.

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)

 


| Digg This Article
 -- Published: Tuesday, 15 December 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.