-- Published: Monday, 21 August 2017 | Print | Disqus
Factors which can affect markets
There is not much US economic data this week. It will be a technical trade. A higher close today and tomorrow will ensure that gold has a smooth break of $1300. I am more concerned on silver as it either rises and breaks and trades over $1740 or crashes to $1610 and $1548. Korean Risk ups and downs will be the key.
The UK and USA both want to increase the number of migrants. These nations believe that migrants will bring innovation with them which in turn will lead to higher growth. Migrants in the Eurozone are mainly Islamic radicalized ones. Migrants irrespective of education levels in the Eurozone have a higher chance of being radicalized than in any part of the world. The USA and UK have to ensure that Islamic radicalized migrants do not enter in hoards. However I see both the USA and UK having a very soft corner towards Islamic migrants. (Even in India Bangladeshi migrants and Myanmar rohingtya muslims are involved by being a part of terror support group). The UK should be the first big traditional nation where Islam and Sharia laws will be unofficial religion. Migrant inflow in the UK and USA will cause long term depreciation of their national currencies. Manipulations will not work. Only gold will be safe haven.
COMEX SILVER SEPTEMBER 2017 – current price $1694.30
Bullish over $1694 with $1736.50 and $1751 as price target
Bearish below $1677.00 with $1662.00 and $1641.90 as price target
Neutral Zone between: $1677.00-1694.0
· Silver needs to trade over $1685 today to rise to $1735 and $1756.
· Sell off only if silver falls below $1686 to $1669 and $1641.90.
MCX SILVER SEPTEMBER – previous day close Rs.39063
There are two possibilities in the short term (a) Failure to break 39905 this week should result in a fall to 37701 and 36331 (b) Only a break of 39905 will trigger another wave of rise to 40425 and 43270.
Initial support is at 38626. Silver needs to trade over 38626 today to try and rise to 39905. Sell off only below 38626. Use the fall next three weeks fall in silver (if any) to invest for Diwali.
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: Monday, 21 August 2017 | E-Mail | Print | Source: GoldSeek.com
