-- Published: Sunday, 17 January 2016 | Print | Disqus
COMEX FUTURES REPORT
Bombs are blasting in every part of the world. Turkey, Mexico, Jakarta and Burkina Faso. People are fed up with terror. But I only expect an increase in terror related deaths this year. Russia, last year has exposed that Turkey is one for the forming members of the Islamic State along with the rulers of Saudi Arabia, Bahrain and Qatar. America is the weapons supplier of the Islamic state. The Islamic state uses mainly American weapons. Innocent people die, starved and forced to leave the land which they have lived for centuries. The vested interested control the media, news and social media and they make us believe that they are right for the genocidal deeds. Crude oil prices has been crashed as nations opposing the deeds of Islamic state are mainly energy producers and commodity producers. The peaceful Europe and boundary less Europe is now being caged and made like the India-Pakistan Border. The invaders of Nazi have themselves converted into Nazi. All is exposed now. Gold and silver will move away from the shadows of American control into realism.
US economic data released in the first two weeks are mixed. It will be a technical trade. Technically gold and silver are bullish.
COMEX GOLD FEBRUARY 2016 – current price $1091.10
Bullish over $1085.30 with $1099.50-$1105.80-$1113.70-$1127.90 as price target
Bearish below $1079.40 with $1074.70-$1071.50 and $1061.30 as price target
Neutral Zone between $1079.40-$1085.30
Jobbers aggressive buy over: buy at $1072.00 stop loss $1066 for $1099 and $1119 or buy at $1091 stop loss $1083.90 for $1106 and $1119
Jobbers sell below: Sell if and only if gold trades below $1085 either in UK session or US session stop loss $1089.10 for $1079.70 and $1071.10
- Gold needs to trade over $1085.00 for the whole day to rise to $1105 and $1127.
- There will be sellers if gold trades below $1085.
- Jobbers watch $1085.00 and $1099.80.
COMEX SILVER MARCH 2016 – current price $1392.50
Bullish over $1382 with $1417-$1435-$1455 as price target
Bearish below $1360 with 1349-$1333 and $1316 as price target
Neutral Zone between: $1360 and $1382
Jobbers aggressive buy over: Buy on dips with a stop loss below $1338 for tomorrow or buy at $1390 stop loss $1363 for $1437
Jobbers sell below: sell silver below $1364 stop loss $1381 for $1344.00 and $1321.
- Silver needs to fall below $1360 or break and trade over $1408 for direction.
- Initial support is at $1377. There will be sellers only if silver trades below $1377.
NYMEX CRUDE OIL (1ST CONTRACT) - current price $30.13
Bullish over $29.70 with $32.20-$35.10 as price target
Bearish below $28.70 with $26.90-$25.90 as price target
Jobbers buy over: Buy at $30.10 stop loss $28.70 for $32.20
Jobbers sell below: Sell below $28.90 stop loss $30.60 for $28.10 and $27.30.
- Crude oil needs to trade over $29.00 till tomorrow to rise to $32.20 and $35.00
- There will be sellers only below $29.00 today.
- Remain on the sidelines and watch $30.10 all the time.
COMEX COPPER MARCH 2016 – current price $196.30
Bullish over $192.20 with $202.30 and $209.80 as price target
Bearish below $189.90 with $186.30 and $183.70 as price target
Neutral Zone between: $189.90 and $192.20
- Key support is at $193.20. There is always hope that copper can rise back to $216 as long as it trades over $193.20
- There will be sellers if copper trades below $195.10 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.
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NOTES TO THE ABOVE REPORT
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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)
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-- Published: Sunday, 17 January 2016 | E-Mail | Print | Source: GoldSeek.com