-- Published: Thursday, 8 December 2016 | Print | Disqus
The European central bank meeting will not have any impact on metals and energies. Their growth and inflation targets of next year will be unreliable. France and Germany goes to elections next year. France will get a new leader. Choppy times ahead for euro. Safe haven demand will either go the US dollar or gold.
The next week is very crucial for silver. If silver manages to trade over $17.00 for a week, then another short term bull could be there with $19.76 and $21.05 as possible targets. For now I will be extra careful trading in silver.
We are seeing some pre fomc moves. Shorts in gold are still on the higher side. Interest rate guidance for the first quarter of next year by the Federal Reserve will be closely watched. The direction of the US dollar and US stock markets after the fomc meet will be crucial.
Copper and crude oil: either they rise or they will see a good correction.
COMEX COPPER MARCH 2017 – current price $263.90
Bullish over $260.10 with $269.90 and $274.30 as price target
Bearish below $256.30 with $253.10 and $247.00 as price target
Neutral Zone between: $256.30-$260.10
·Copper can fall to $257.70 as long as it trades below $268
·Movement can be two way. Trade carefully in copper.
·Short term sharp corrections (if any) should be used to invest for a period of three months.
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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-- Published: Thursday, 8 December 2016 | E-Mail | Print | Source: GoldSeek.com