-- Published: Tuesday, 26 June 2018 | Print | Disqus
Direction of global stock markets will be the key to industrial metal prices and silver. Gold if it does not rise will see more correction. Crude oil will remain unaffected by any news on very strong short term fundamentals. Physical demand of copper, silver, nickel and zinc will be the key. The next three days are very crucial for copper, zinc and nickel. If they fall, they will sink and move into ab irrecoverable short term bearish phase.
Economics & Trump trade wars
It will be a very volatile financial market. Traders are assessing whether China will be able to withstand the trade war unleashed by Trump. Some believe that the Chinese economy will move into recession if there is a full-fledged trade war. The Chinese could bow to Trump’s trade war to prevent a recession. There are lots of thoughts on the impact of the trade war and the Chinese economy.
I believe that any slowdown in the Chinese economy will result in a war with India. The Chinese will use war with India as a last resort to change public opinion of a slowdown under the garb of nationalism. China could use Asia as a dumping ground.
COMEX SILVER JULY 2018 – current price $1631.00
Bullish over $1618.00 with $1653.50 and $1679.90 as price target
Bearish below $1611.90 with $1602 and $1587.90 as price target
Silver needs to trade over $1623 to rise to $1668.
· Sellers will be there below $1623.
· Crash will be there only below $1611.
MCX CRUDE OIL (1ST Contract) – previous day close Rs.4658.0
· Crude oil can rise to 4716 and 4781 as long as it trades over 4599.
· Intraday bearish trend will be there only on a fall below 4599.
· There will be very sharp two way moves.
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.
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 26 June 2018 | E-Mail | Print | Source: GoldSeek.com
