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Asian Metals Market Update: Oct 9 2018



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 9 October 2018 | Print  | Disqus 

Trump wants to call China a currency manipulator. The fall in the yuan reflects growth concerns and nothing else. Currency should reflect fundamentals. Currency prices moves are based on fundamentals. The USA has the strongest economy which is why the US dollar is strong. Asian currencies are weak as a higher energy bill wreaks havoc on a nations balance sheet and also affects voter base. There is nothing wrong with a stronger US dollar. Americans should be happy as imports become cheap. The USA will be least affected by imported inflation.

 

Gold and silver need to be trade firm for demand to zoom in Asia. Buyers and investors alike will vanish if prices fall. Copper and crude oil will be volatile till tomorrow.

 

COMEX SILVER DECEMBER 2018 – current price $1439.50

Bullish over $1430.50 with $1458.50 and $1474 as price target

Bearish below $1419.50 with $1406.50 and $1389.50 as price target

·         Small sell off will be there below $1433.

·         Crash will be there if silver does not break $1452 today.

MCX ALUMINUM OCTOBER 2018 – previous day close Rs.154.25

·           Immediate support is at 152.70 with 149.60 as key support.

·           Aluminum needs to trade over 152.70 to rise to 158.30 and 163.10.

·           Sellers will be there only if it trades below 152.70.

(prices in Indian rupees above)

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

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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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              (10:30 am to 5:30 pm Indian time, Monday to Friday) 

 


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 -- Published: Tuesday, 9 October 2018 | E-Mail  | Print  | Source: GoldSeek.com

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