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Asian Metals Market Update: December-5-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 5 December 2017 | Print  | Disqus 

The market sharking event could be when President Donald Trump’s eldest son and a former business associate of the president testifies to the U.S. House of Representatives Intelligence Committee. A lot of events are there for the rest of the week. One needs to trade very carefully.

 

There are concerns that the Chinese infrastructure sector will see a big slowdown next year. This news will prevent industrial metals from a big rise. There can be a short term correction in industrial metals and then a rise. The key risk for industrial metals next year are (a) Busting of current global stock market boom (b) Reduction in Chinese demand. Industrial metals trend next year can change every quarter. A better investment strategy for industrial metal investors will be keep on booking at least sixty percent profits every quarter and use higher trailing stop losses for the rest.

 

The legalization of crypto currencies will give every investment class a run for the money. Metals (precious and base metals) and certain soft commodities will rise at a slower pace. Those investors wanting high return will be forced to trade in crypto currencies. I believe that crypto currencies are just for trading and not for investment. Crypto currencies are a paper asset. I never believed in investment for the long term in paper assets. Land (not flats) and precious metals are the only low risk investment class. One should trade/invest in the short term in paper assets and make good profit. Invest that short term profit from paper assets into long term hard assets like physical gold or land.

 

COMEX GOLD FEBRUARY 2018 – current price $1278.80

Bullish over $1281.40 with $1285.60 and $1293.10 as price target

Bearish below $1276.40 with $1272.80-$1269.90 and $1257.50 as price target.

  • Gold needs to trade over $1262-$1269.90 zone to rise to $1285 and $1293.
  • There will be sell a off if gold trades below $1269.90 for three hours.

MCX NATURAL GAS DECEMBER – previous day close Rs.192.20.

·         100 day moving average is at 192.60

·         200 week moving average is at 197.90

·         Natural gas can fall to 186.40 and 181.50 as long as it trades below 197.90.

·         Rise/bullish trend will be there only over 197.90

(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.

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

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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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