-- Published: Monday, 4 June 2018 | Print | Disqus
Trade wars will prevent gold from a big crash. The European commission has said that it will lodge a complaint against China (in WTO) for patent infringement along with complaints against the US over tariffs. There is also some speculation that the USA will coerce China to prevent it from using the yuan on petro dollar billings. All in all, other than economic factors the rest of the other factors are conducive for a gold rise. Since gold fundamentals are still negative one, there will be corrections as and when focus is on economic factors.
U.S. Defense Secretary Jim Mattis said that North Korea will receive relief only after it takes clear and irreversible steps to end its nuclear program, adding it would be a bumpy road to a summit between the U.S. and North Korean leaders. Our view: Despite all the efforts, It may take more than a year for the Korean peninsula situation to diffuse. War will not be there. Unpredictability will remain.
Nonfarm payrolls are over. Focus will be on FOMC and the bank of England meeting over the coming weeks. The European central bank meeting will be a dud.
COMEX SILVER JULY 2018 – current price $1644.00
Bullish over $1652.70 with $1666.80 and $1685.50 as price target
Bearish below $1642.60 with $1628.80-$1613.60 as price target
Neutral Zone between: $1642.60-$1652.70
Silver will break free from $1630-$1670 range and form a new range anytime.
· Sellers will be there only below $1638.
· There can be very sharp two way moves in silver anytime.
NYMEX CRUDE OIL (1ST CONTRACT) - current price $65.86
Bullish over $65.20 with $66.70 and $ $68.60 as price target
Bearish below $64.20 with $62.60 as price target
· Crude oil needs to trade over $64.20-$65.20 zone today to rise to $68.60.
· Sellers will be there below $65.20.
· If crude oil falls today, then chances of a swift crash are possible. Buy stop losses getting triggered and option covering could be the reason.
HAPPY PROFITABLE TRADING
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
Customer care/Whatsapp/Telegram: 9311139549
You can also mail your queries at ‘s
Chat Id: firstname.lastname@example.org (gtalk), email@example.com (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
| Digg This Article
-- Published: Monday, 4 June 2018 | E-Mail | Print | Source: GoldSeek.com