-- Published: Tuesday, 15 January 2019 | Print | Disqus
Fears of a contagion effect of the Chinese slowdown is preventing industrial metals and crude oil from rising. Focus is more on Brexit globally. There is speculation that the UK might now leave the European Union. The Cable will zoom like a space rocket if there is clear information that the UK will not leave the European Union. A second referendum vote (if any) will be in favor of the UK not leaving the EU. Gold will still rise irrespective of the outcome of brexit. Corrections will be a part and parcel of the bull rally.
Indian demand will start to rise from zero in gold and silver till June. Elections are there in India anytime after March. I see a dip in gold demand in India during the election period. Gold demand in India zooms after the elections. I will prefer to invest in silver over gold for this year’s Diwali. Silver looks more attractive as an investment over gold.
I am on stock hunting. Selected and beaten stocks can double this year in India. One just needs to keep a hawk eye and invest in Indian stocks. I am not bothered over which political party comes to power or even if there is a hung parliament. I am bullish on Indian stocks for the rest of the year. However one should look for underperforming sectors of last year and check if they can turn into a golden goose. Indian gold demand and Indian stock indices should see a direct correlation this year.
COMEX SILVER MARCH 2019 – current price $1569.70
Bullish over $1575.00 with $1590.50 and $1605.00 as price target
Bearish below $1560.00 with $1548.50 and $1519.50 as price target
Neutral Zone between: $1560.50-$1575.00
· Small sell off will be there below $1560.
· Crash will be there below $1545.
· Remain on the sidelines.
MCX Silver March 2019: (previous day close/CMP Rs.39552)
Bullish over 39758 with 39988 and 40215 as price target
Bearish below 39346 with 39106 and 38680 as price target
Neutral Zone: 39346-39758
One Support: 39346
One Resistance: 39758
· Silver will break free from the 39000-40000 trading range and form a new range.
· Crash will be there to 38680 and 38112 if silver does not break and trade over 40032 by Friday.
· Quick rise will be there over 39758 today.
· Day traders remain on the sidelines today.
(Prices are 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.
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 15 January 2019 | E-Mail | Print | Source: GoldSeek.com