-- Published: Thursday, 20 December 2018 | Print | Disqus
Jingle bells have not rung for any investment class towards the close of the year. We all read about heaven and hell on our religious books. In the “Kaalyug” (technological age as per Hindu scriptures), most of the people go to hell as they perform more bad deeds than good deeds. In financial language heaven is profit and hell are investment and trading losses. Most of us go to hell as we incur more trading losses and investment losses. The number of hell goers or loss makers way out number the heaven goers or profit makers.
2018 has been a hell of a year. Every investment rose and got busted except gold. Crude oil rose and got busted. Natural gas zoomed and is on the verge of getting busted. Nickel rose and got busted. Global stock markets rose and got busted. When the hell period occurs or the busting/coercive correction happens most of us are long or invested. I am not going to go into the reasons for it except for Trump and his tweets. In 2019 you have to decide whether you want to go to heaven (make profitable investment) or hell (make loss making investment). If you go move towards hell in 2019, then your life will be a hell for a few years. Do not go by herd or momentum next year. Invest carefully. Silver is the only underperforming metal.
What next for gold after FOMC
Two interest rate hikes will be there next year. The federal reserve was not as soft on the US economic outlook as markets were anticipating. So gold and silver fell. I will still prefer to use a buy on sharp dips strategy for gold as long as it trades over $1225 but keep on booking profit between the $1260-$1270 zone.
COMEX SILVER MARCH 2019 – current price $1464.80
Bullish over $1474.00 with $1490.00 and $1510.00 as price target
Bearish below $1460.00 with $1448.50 and $1429.50 as price target
Neutral Zone between: $1460.00-$1474.00
· There is a mini double top around $1490.
· Silver needs to break and trade over $1490 to rise to $1505 and $1530.
· In case silver does not break and trade over $1490 then chances of a fall to $1426 and $1366 will be very high.
· Small sell off will be there below $1460.
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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-- Published: Thursday, 20 December 2018 | E-Mail | Print | Source: GoldSeek.com