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Asian Metals Market Update: December-21-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 21 December 2017 | Print  | Disqus 

 “Spend wisely and Invest lavishly should be life mantra for 2018”

 

American companies announcing large bonuses for its employees after the passage of Tax bill will result in higher consumption in the first quarter of next year. Higher retail consumption in the USA will result in higher employment and higher profitability. Global stock markets will remain firm and result in rosier projections for economic growth in the USA and China.

 

Negative news surrounding crypto currencies like hacking etc this week is state manipulated. States know that block chain technology is like the Linux of the world (which is free) and not windows (which is very expensive). They will continue to try everything to knockout block chain technology from the world. In this world everything is hyper priced and oligopoly is preferred by the state. The Common man is burdened with taxes from birth till death. Gold will rise as more and more youth population understand the looting done by our elected representatives. Wow we elect the best looters in every election.

 

Economic data releases from across the globe will not have any significant effect on the currency markets or metals markets unless they are on the lower side on the expectation curve.

 

COMEX SILVER MARCH 2018 – current price $1627.00

Bullish over $1605 with $1632.00-$1647 and $1683.30 as price target

Bearish below $1593.00 with $1583.00 and $1572.60 as price target

·         There will be a technical breakout over $1633 to $1647 and $1666.

·         Sellers will be there only below $1605 today.

MCX SILVER MARCH 2018 – previous day close Rs.37600.

·         Resistance is at 37794. There will be a technical breakout if silver manages to break and trade over 37794 to 38081-38383 and 39185.

·         Silver needs to trade over 37110 till tomorrow to be in a bullish zone.

(prices in Indian rupees above)

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.

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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 -- Published: Thursday, 21 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

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