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Asian Metals Market Update: September-04-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 4 September 2017 | Print  | Disqus 

North Korea’s hydrogen bomb has given a hydrogen boost to gold and silver. Copper and industrial metals have had a technical breakout. The US dollar has remained immune to North Korea. The US Navy has increased patrols in South China Sea. East Asia is now the current middle east and north Africa of the world.

 

US markets are closed today. Moves will be there. No one can sleep on their trades. Keep your eyes open and do not miss the opportunity to encash the sudden one-way moves.

 

TODAY

Gold can zoom to $1400 this week if it manages to trade over $1332. Silver can zoom to $1897.90 this week if it manages to break and trade over $1806.90. Copper can rise to $333.80 this week as long as it trades over $307.10. Crude oil will break free the recent range bound trade.

 

Technical support/resistances -- comex/nymex futures

COMEX GOLD DECEMBER 2017 TECHNICAL LEVELS -- pivot $1337.30

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,311.30

$1,319.60

$1,325.70

$1,332.70

$1,342.80

$1,347.20

$1,359.40

$1,368.80

SILVER DECEMBER 2017 TECHNICAL LEVELS  -- pivot  $1806.90

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$1,718.40

$1,745.20

$1,766.70

$1,781.30

$1,806.90

$1,829.90

$1,861.90

$1,900.60

COPPER DECEMBER 2017 TECHNICAL LEVELS  -- pivot $313.80

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$306.40

$309.50

$311.40

$313.70

$314.70

$315.80

$317.80

$328.20

CRUDE OIL (1st Contract) -- pivot $47.20

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$45.30

$45.70

$46.30

$46.80

$47.80

$48.40

$49.80

$50.60

All prices are in US dollar ($) above. Only for reference

 

 

COMEX GOLD DECEMBER 2017 – current price $1338.30

Bullish over $1332.70 with $1347.20 and $1366.10 as price target

Bearish below $1320.10 with $1311.30 and $1297.60 as price target.

Neutral Zone between: $1320.10-$1332.70

Jobbers aggressive buy over: Buy at $1332.70 stop loss $1319.10 for $1366 or buy over $1342.80 stop loss $1335.90 for $1366.

Jobbers aggressive sell below: Sell only if gold does not break and trade over $1348 today.

  • Gold can rise to $1347.20 and $1366 as long as it trades over $1332.
  • Trade very carefully between $1320 and $1332 in the event of a correction.

COMEX SILVER DECEMBER 2017 – current price $1791.90

Bullish over $1755.10 with $1806.90 and $1900.60 as price target

Bearish below $1736.90 with $1713.90 and $1681.90 as price target

Neutral Zone between: $1736.90-1755.10

Jobbers aggressive buy over: Buy at $1790 stop loss $1761 for $1829.90 and $1861.90.

Jobbers sell below: Sell only if silver does not break $1811 today.

·         Silver can rise to $1861.90 as long as it trades over $1755.30.

·         Initial resistance is at $1806.90.

·         A daily close over $1798 today should be bullish for the rest of the week.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $47.43

Bullish over $46.80 with 48.20 and $49.40 as price target

Bearish below $46.00 with $45.40 and $43.70 as price target

Trading strategy:  No call

  • Crude oil can rise to $48.60 and $49.40 as long as it trades over $46.50
  • Sellers only below $46.50.

COMEX COPPER DECEMBER 2017 – current price $313.70

Bullish over $307.10 with $317.80 and $329.60 as price target

Bearish below $304.90 with $303.70 and $301.80 as price target

Neutral Zone between: $304.90-$307.10

  • Copper can rise to $322.50 today as long as it trades over $309.50.
  • Sellers will be there only below $309.50.

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 1:00 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm 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/Whatsapp/Telegram: 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: Monday, 4 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

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