-- Published: Friday, 3 November 2017 | Print | Disqus
Bitcoin is the new Las Vegas for traders. Bitcoin has a lot of upside potential. Bitcoin’s can give four digit returns in the next twelve months. But risk of sharp price falls will test the nerve of traders. I do not see a sharp rise in gold prices at the moment. Wars will be needed for gold prices to zoom in the short term. Long term the gold bullish trend is intact. Spurt in bitcoin’s will prevent the super rise in industrial metals as well. Fundamentally industrial metals are bullish. The pace of rise of Industrial metals will reduce for the next six months.
Crude oil is bullish. The next big technical breakout will be over $57 (nymex). Natural gas prices are on the verge of a big rise. I prefer to buy near term call options in natural gas.
The Bank of England is always a predecessor to the global interest rate trend. The Bank of England generally is the first western central banker to raise interest rates or cut interest rates while others follow it. Yesterday the Bank of England raised interest rates. The interest rate trend will affect investment decisions for the next six months.
COMEX SILVER DECEMBER 2017 – current price $1711.60
Bullish over $1707.50 with $1732.20 and $1764.70 as price target
Bearish below $1699.70 with $1682.20 and $1663.10 as price target
· Silver needs to trade over $1700 to rise to $1732 and $1764.
· There will be sellers below $1700.
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: Friday, 3 November 2017 | E-Mail | Print | Source: GoldSeek.com
