-- Published: Monday, 24 December 2018 | Print | Disqus
The US government shut down (if any) should be bullish for gold once again. I repeat, other than economics all other factors are ripe for 2019 to be a “gold en” year.
There is speculation that Trump may replace the Federal Reserve chief Jeremy Powell. The US dollar will lose its so called safe haven status if there is such a move. The euro and pound and even the Chinese have some problems or the other.
I am not a dowjones technical analyst. But I read that the dowjones has reached a death cross stage which IS a quick short term decline. If US stock markets crash this week, then copper and other industrial metals will crash. Silver can range trade for a much longer time that most of us expect. Gold can fall first and then zoom if the US stock markets crash this week.
Crude oil should rise. Traders and investors are cautious. Trading volumes will be thin as the day progresses.
COMEX SILVER MARCH 2019 – current price $1478.00
Bullish over $1470.00 with $1496.00 and $1523.00 as price target
Bearish below $1460.00 with $1448.50 and $1429.50 as price target
Neutral Zone between: $1460.00-$1474.00
· Silver needs to trade over $1460 to be in a bullish zone.
· Small sell off will be there below $1470.
· Day traders remain on the sidelines in silver.
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: Monday, 24 December 2018 | E-Mail | Print | Source: GoldSeek.com