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Asian Metals Market Update: Apr-18-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 18 April 2017 | Print  | Disqus 

The fall in gold and silver is just profit taking which if it continues during the day will result in more losses. Intraday volatility will rise. News from North Korea and other parts of the globe will be closely watched. The next seven trading session are very crucial for gold and silver from a medium term perspective. The ability to have a sustained rise will be tested for gold and silver bulls.

 

This week I am against buying gold unless it trades over $1307.  Silver needs to trade over $1827 to prevent a sell off. Copper needs to trade over $256 to continue to rise more. Crude oil and natural gas prices will be dependent on the ability to hold key supports.

 

The best way to get out of political troubles is engage the nation in war. Trump is doing nothing new. His party is not supporting him on the proposed reforms. The best way to get their support is to attack a nation. The North Korea situation is fragile. This will ensure that safe havens like gold attract investment.  America wants a leadership change in Syria and North Korea. It will succeed but with the help of killing innumerable innocent people. Central bank agencies like Goldman, JP Morgan, Deutsche Bank and others will intervene in certain sectors of financial markets so that they are sea calm.

 

 

COMEX GOLD JUNE 2017 – current price $1285.00

Bullish over $1292.10 with $1297.80-$1304.70 and $1314.10 as price target

Bearish below $1278.70 with $1272.10-$1259.50 as price target.

Neutral Zone between: $1278.70-$1292.10

  • Failure to break and trade over $1297 either today or tomorrow will result in a fall to $1272 and $1259.
  • Remain on the sidelines. Buyers will be there only if gold trades over $1294.
  • Jobbers watch $1285.

MCX COPPER APRIL – prices in Indian Rupees below

Copper faces resistance at 372.90. A break of 372.90 will result in 379.10. Initial support is at 366.10. There will be sellers only if copper trades below 366.10. Day traders need to remain on the sidelines today.

Copper two weeks view: Copper can rise to 378.20 and 401.80 as long as it trades over 354.20. Big sell off (a) only below 354.20 (b) Copper does not break and trade over 379.10.

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 ‘s

Chat Id: mcxsuretips@gmail.com (gtalk), insigniaconsultants@yahoo.com (yahoo)

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

 


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 -- Published: Tuesday, 18 April 2017 | E-Mail  | Print  | Source: GoldSeek.com

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