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: Friday, 22 January 2016 | Print  | Disqus 

COMEX FUTURES REPORT – Today’s closing is very important.

European central bank’s move on the next round of quantitative easing is a deliberate move to weaken the euro. Just when it seemed that euro/usd will be able to break past key technical resistance of 1.1125, ECB comes and knocks it down. This is nothing but a part of the currency war. Gold and silver knocked down after the ECB statement.

 

It is better to remain on the sidelines. Till the 10th February spot gold needs to break and trade over $1110 to attract short covering. Till 10th February, silver needs a daily close over $1430 for four consecutive days to zoom. As long as gold does not have a daily close over $1410 and as long as silver does not get a daily close over $1430, short sellers might still take a shot.

 

Fundamentals are getting better. There is demand for gold and silver in Asia, Europe and non traditional markets. I just hope the same continues. The FOMC meet next week will affect metals and energies only if they have some surprises. As long as crude oil trades over $25, it can still rise to $35 and $42. The next wave of sell off only below $25 in crude oil.

 

Do not ignore geopolitical risk. It will only positively affect gold and silver. Islamic state’s terror activities will be felt every day in some part of the world. They have established a massive network and sustained network. Thanks to social networking sites, the Islamic state’s business of radicalizing muslim people and also converting other religion people into Islam will never end. Gold and silver will continue to find buyers on dips this year. Investor of gold and silver will not be worried by all the hyper bearish forecast all over the internet.

 

COMEX GOLD FEBRUARY 2016 – current price $1099.40

Bullish over $1085.30 with $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 $1080.00 stop loss $1068 for $1114 and $1124  -- for next week.

Jobbers sell below: Sell if and only if gold trades below $1094 either in UK session or US session stop loss $1099.10 for $1087.80 and $1082.10

  • Gold needs to trade over $1106 for the whole day for another wave of rise to $1122 and $1144.
  • Initial support is at $1092.90. There will be sellers if gold trades below $1092.90 or gold does not break $1110 by Monday.
  • Jobbers watch $1098.00 and $1106.30.

COMEX SILVER MARCH 2016 – current price $1407.50

Bullish over $1382 with $1427-$1444-$1476 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 $1348 for tomorrow or buy at $1400 stop loss $1388 for $1437-$1476

Jobbers sell below: sell silver below $1364 stop loss $1381 for $1344.00 and $1321.

  • Silver has the best chance to rise to $1456 and $1500 by next week. It needs to trade over $1400 till next week to attract short covering.
  • Initial support is at $1377. There will be sellers only if silver trades below $1377.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $29.70

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 on any $2.50-$3.50 dip with a stop loss below $24.20 for end February.

Jobbers sell below: Sell below $28.70 stop loss $29.40 for $27.60 and $25.90.

  • Crude oil needs to trade over $28.70 till Monday to rise to $32.00-$35.10
  • There will be sellers only below $28.70 today.

COMEX COPPER MARCH 2016 – current price $199.60

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 $195.40. There is always hope that copper can rise back to $207 as long as it trades over $194.10
  • 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.

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: Friday, 22 January 2016 | 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.