-- Published: Tuesday, 31 October 2017 | Print | Disqus
Trump and his controversies prevented gold and silver from a collapse. Russian meddling in elections is the headline. Americans meddle in the elections of every nation. Might is right for the Americans. By naming Russia American politicians are just trying to justify their global war cost. Most of the war which America or NATO are fighting are fake. Key American news providers are the real fake news and not the other way around. Politicians and charities supported by NATO are being exposed daily. This is one of the reason why more and more nationalistic right wing political parties are gaining ground in every nation. Gold has to gain, paper assets (except bitcoin) have to crash as the controlling power of NATO declines.
One needs to keep a close watch on news from America. The FOMC meet, a new Federal Reserve chairman may be announced on Thursday night and US October nonfarm payrolls all might affect the currency markets as well as the US dollar. Technically gold, silver and copper are not out of the woods. Crude oil if it rises today and tomorrow will zoom.
COMEX COPPER DECEMBER 2017 – current price $310.40
Bullish over $308.20 with $313.20 and $318.20 as price target
Bearish below $305.90 with $302.10 and $297.60 as price target
Key support is at $305.90. There will be a technical breakdown only below $305.90. I am against selling copper unless it trades below $305.90.
Short covering will be there only over $312.20.
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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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
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