-- Published: Wednesday, 22 November 2017 | Print | Disqus
It will be a technical trade today and till Monday. Moves will be big and two way. Investors will not be able to sleep on their investments. It should be a day trader’s paradise till Monday. Copper, industrial metals and crude oil are looking bullish at the moment. Gold and silver are in anything can happen zone. Short term hot money is still into bitcoin and crypto currencies.
I read a lot of media concerns over the continued rise in bitcoin and crypto currencies. Asia is not a major contributor to the current rally in crypto’s. Indians and Asians are now starting to show interest in bitcoins. More and more Indians are now looking for ways and means to invest in bitcoins and other forms of crypto currencies. If the actual potential of Asian investments in bitcoins is realized then daily volumes should rise at least one hundred times in the next twelve months. The current risk is sixty percent and infinity is the potential return. If you are prepared to take the sixty percent risk, then invest in bitcoins and other forms of crypto currencies. Physical gold and physical silver are evergreen investment. One should use the short term profits in bitcoins to invest physical gold and physical silver.
COMEX COPPER DECEMBER 2017 – current price $312.60
Bullish over $308.60 with $314.90 and $320.20 as price target
Bearish below $305.00 with $302.90 and $300.60 as price target
Copper can rise to $320.70 as long as it trades over $305.60
Copper will zoom if it trades over current price after London opens.
MCX NICKEL NOVEMBER – previous day close Rs.766.70
·Key resistance is at 769.90. Nickel needs to trade over 769.90 to rise to 785.20 and 806.20.
·Initial support is at 752.90. There will be sellers if nickel trades below 752.90.
(prices in Indian rupees above)
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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