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Asian Metals Market Update: Sep 27, 2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 27 September 2016 | Print  | Disqus 

Just trade in the technical. Ignore the media friendly US presidential drama. Promises made before any political elections are just to make voters an emotional fool. Tears shed before any political elections are crocodile tears. Whether its India, Europe or America, politicians are the same breed. They are there to loot you. The bigger the looter the greater generally is the margin of victory.


Incoming US economic data releases (this week and next week) should support the case for a December interest rate hike. If numbers are weak, then gold and silver will zoom. Indian demand for gold and silver is expected to rise from Sunday. However if Indian demand disappoints in October, then gold and silver could move into another medium term bearish phase.


A big on Pakistan – India-China relationship.

The current India-Pakistan situation is like nearing a war front. I believe that the world is paying Pakistan’s army and Pakistan’s religious heads to be the terror hub of world. Americans have been aiding Pakistan in all forms. Organization of Islamic States (OIS) has been supporting Pakistan financially and otherwise to unleash terror in India and also attract more and more Indian Muslim youths towards Islamic extremism. Every year a number of so called news reporters and politicians vanish in Pakistan without any clues. In my view Pakistani religious heads and the Pakistani army are just propaganda machine of NATO and their Islamic allies. (The people of India and the people of Pakistan want fearless friendship but for Pakistani religious heads).


Now the USA has created an India-China rift in the south china sea. The Americans have no right in the South China Sea or the Indian Ocean. They have just created the Chinese fear factor in nations having interest in South China Sea with an intention to take protection money from these nations and also see outdated arms and ammunition from NATO. The best example is India buying Rafales fighter jets at exorbitant prices due to the Chinese syndrome. Three big nations, Russia, India and China if united can rule the price of everything globally. The economic synergies which if tapped to the potential can result in a closed economic zone. (No export or imports from any nation just buying and selling everything between themselves). This even Americans know. Hence the recent overtures to India.


COMEX SILVER DECEMBER 2016 – current price $1950.20

Bullish over $1982 with $2001 and $2032 as price target

Bearish below $1944 with $1909 and $1857 as price target

Neutral Zone between: $1944-$1982

Jobbers aggressive buy over: No call

Jobbers sell below: Sell if and only if silver trades below $1943 either in the UK session or the US session stop loss $1962 for $1927 and $1911.

  • Silver needs to trade over $1943 to prevent a fall to $1912 and $1877
  • A daily close below $1943 today will be bearish for tomorrow.
  • Trade very carefully between $1930-$1970 zone.


Silver needs to trade over 45810 till Friday to once again target 47825. Initial support is at 46207. There will be another wave of selling only if silver trades below 46207 to 45810 and 45278. Technically bearish. I am against buying unless it trades over 46800 today with a stop loss of 46532 and a price target of 47117. (trade for small profits today in silver as movement will be two way).

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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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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