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 Precious Metals Update: May-2-2016



By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 2 May 2016 | Print  | Disqus 

Last week was the herd. All metals and energies rose at the same time. The US dollar depreciated along with below expectation US economic data releases. This resulted everything rising and breaking past key technical resistances. You went long with a high margin money in all metals and energies. You won. You went short and you got busted.

 

This week may or not repeat last week. US private ADP numbers on Wednesday and US April nonfarm payrolls is the key. A number below 160,000 will result in another big downward spiral for the greenback. April did not have any Easter employment. I do not foresee any spillover effect of Easters positively affecting US jobs number. The only risk could be past increase in previous month employment numbers. Japanese Yen against the US dollar below 105 (if any) will provoke direct intervention by the bank of Japan and will be create another short term bull cycle for US dollar denominated commodities. Middle East and Islamic state risk have not affected financial markets in April. I believe that this week continue too.

 

Low risk traders can book profit (on their long positions) just before the release of US April private ADP numbers on Wednesday. Looks for such signs. Thereafter depending on the fall (if any) all metals and energies need to trade over key weekly resistances to ensure continuity of bullish trend. For example suppose gold trades around $1327 in Asian session on Wednesday. Key weekly resistance is at $1308.20. In this case gold should not fall below $1308.20 before or after the release of US April private ADP numbers to ensure bullish trend continues. If gold trades below $1308.20 on Wednesday US session, chances of a sharp correction and big correction could be there. Most of us make the mistake of getting caught on the wrong side of the one way movement and make losses. Do not make losses by waiting for clear direction and then making a trade.

 

If you are uncertain, my experience is that one should not trade sixty minutes before the release as well as sixty minutes after the release of big economic data releases and key central bank meetings.

 

Sometimes headlines numbers may be misleading. Be wary of same.

 

Last but not the least, all metals and energies need to trade over last week’s closing prices for the whole week to continue their bullish journey. If they trade below last week’s closing prices, then chances of sharp correction will be there while maintaining the bullish trend.

 

Momentum as well as technical are all bullish for gold, silver and crude oil. They need to trade over current prices for the rest of the day to rise another two percent before close. Today it will not be a one way move. There will be large periods of consolidation followed by big one way moves. All eyes will be on the US dollar.

 

Gold needs to break and trade over $1309 to zoom. Silver this week as a technical congestion between $1810 and $1860. Overall trend is bullish. But a break of $1860 will result in $2120 and $2540 in less than ten trading sessions.

 

Crude oil needs to break and trade over $47.40 for another quick zoom. Copper is bullish but needs to trade over $231 for another quick zoom.

 

 

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 insigniaconsultants@gmail.com

Telagram/whats app on 9811139549 and 9311139549

              (10:30 am to 5:30 pm Indian time, Monday to Friday)


| Digg This Article
 -- Published: Monday, 2 May 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.