-- Published: Wednesday, 15 November 2017 | Print | Disqus
Price moves in metals and currencies suggest funds are churning their portfolio for the year and first quarter of next year. The Eurozone economy is expected to continue with its favorable growth rates at least till the first quarter of next year. Migrants are now the backbone to rise in consumption in Eurozone. Eurozone members are distributing free money to migrants for higher growth and cheap labour. Trump after the Asian trip is a marketing agent for American arms manufacturers and American too big to fail corporations. These are all long term bullish for gold and hard assets. Buying physical gold in electronic form is better than investing in a gold ETF. The pace of rise of gold will continue to lag stocks and crypto currencies.
Key US economic data releases are there for the next seven days. I expect big one way moves in all investment instruments before the Thanksgiving vacations next week. Silver traders need to be prepared for $150-$200 one way move either side anytime. The current $1650-$1750 trading range will be broken soon and a new range will be formed. Corrections in industrial metals and crude oil are healthy.
NYMEX CRUDE OIL (1ST CONTRACT)- current price $55.11
Bullish over $55.60 with 56.50 and $57.30 as price target
Bearish below $55.00 with $54.40 and $53.10 as price target
Key support is at $54.40. Crude oil needs to trade over $54.40 to rise to $56.80.
Crude oil will crash if it trades below $54.40.
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
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.