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Asian Metals Market Update: July-18-2017

By: Chintan Karnani, Insignia Consultants

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

Lack of news resulted in a weaker US dollar and the continued rise in metals and energies. Trump and his never ending controversies implies stalemate among US lawmakers to pass new legislation. Only war legislations have been passed by republicans. Global safe haven demand has been on the rise. The internet is filled with speculation that the Russia-China energy deal will result in an end to the petrodollar. Tensions in the South China Sea and a NATO expansion in eastern Europe will increase in all kinds of trade between Russia and China. We might see a new cold war3 with Russia-China on one side and NATO and its allies on the other. NATO has used trade sanctions first to alienate a nation and if trade sanctions did not work, then use force or create an armed rebellion in that nation. NATO’s tried and tested ways to rule will not work with the Russia-China axis. Russian and Chinese governments have been continuously increasing their gold reserves. One needs to closely watch NATO’s tactics with the Russia-China axis. The Taliban, the Islamic state, the mujahedeen’s, one can call by whatever name are all termites created by NATO for an opposing nation. Philippines great leader Duterte opposed NATO and the Islamic state terror has been unleashed to him. No one is invincible. I believe that the controlling power of NATO will fall over the coming years. Physical gold is still not a bad very long term investment.


It will be a technical trade. Technically all metals and energies are bullish. Direction of currency markets will be the key.


Bitcoins – current price $2197.20


I am not an expert in bitcoins. I am just giving the technical view. In India bitcoins are not officially recognized as such the Indians should ignore the view. Intraday volatility is very high. Low risk traders should avoid bitcoins even in their dreams.


Intraday a break of $2213 will result in $2370 and $2646 and $3043. Crash only below $1962.


COMEX SILVER SEPTEMBER 2017 – current price $1614.30

Bullish over $1560 with $1639.60 and $1685.80 as price target

Bearish below $1547.10 with $1536 and $1500.80 as price target

Neutral Zone between: $1547.10-$1560

·         Silver can rise to $1685 as long as it trades over $1592.

·         Sellers will be there only below $1592 to $1580 and $1560.

·         Trend is bullish.  A daily close over $1615 today will be bullish for silver for the rest of the week.

MCX SILVER SEPTEMBER – previous day close Rs.37410

Silver can rise to 37862 and 38425 as long as it trades over 36915. Fall/bearish trend only below 36915 to 36549 and 36078.

(prices in Indian rupees above)

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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