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Asian Metals Market Update: December-15-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 15 December 2017 | Print  | Disqus 

The European central bank meeting was a dud. I do not believe in their inflation targets. The trend for the US dollar is still bearish. Gold and silver can see small periods of big one way rises followed by long periods of consolidation. Copper is bullish. I will prefer to use a buy on dips strategy as long as crude oil trades over $55 for the rest of the day. Global year end travel season will begin from tomorrow. Travel related energy demand will rise for a month.


“Wolf cry” this year was the fall in stock markets. “Wolf” never came. When the actual wolf in the form of a bearish trend in global stock markets comes next year, most of the retail investors will be heavily invested in stock markets. Do not sleep on your short term stock investments next year. Fundamentally strong stocks will outperform indices in a big way. I am also concerned about the pace of the rise of Indian stock markets. January historically has been a sticky month for Indian stock markets and Indian equity investors.


Bond markets outflows in India and East Asian nations is the key risk for Asian currencies next year. There is political stability in almost all Asian nations except Pakistan and the Middle East. US induced geopolitical instability in the South China Sea and Korean peninsula can result in bond markets outflows. Asian growth rates should be stable to higher.


NYMEX CRUDE OIL (1ST CONTRACT)  - current price $57.17

Bullish over $57.00 with $58.80 and $60.40 as price target

Bearish below $56.00 with $55.50 and $54.70 as price target

  • Crude oil should consolidate in the $55-$60 range.

COMEX COPPER MARCH 2018 – current price $307.40

Bullish over $303.90 with $310.30 and $315.60 as price target

Bearish below $298.20 with $296.10 and $292.20 as price target

  • Copper needs to trade over $303.90 today to zoom to $310.30 and $315.50.
  • Trend is bullish as long as copper trades over $300.10.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto 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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