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Asian Precious Metals Update: February-12, 2019



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 12 February 2019 | Print  | Disqus 

USA is coercing every nation not to use Huawei5G or any of Huawei telecom gear. USA is now using the threat of trade sanctions on nations using or intend to use Huawei telecom gear. This will be short term bullish for US dollar but in the long term it will sink the US dollar. I will prefer to accumulate more and more physical gold on dips. Better to increase portfolio allocation to hard assets now.

 

US-China trade talks will be inconclusive as Huawei issue will not be resolved. On paper it will look like everything is fine. Back channel everything will be done by China and almost every nation to protect themselves against USA’s indirect invasion. Trade sanctions and global alienation is basically a modern style of invasion. Gold has to rise.

 

Everything (including economic factors as well) is bullish for gold. It just a strong US dollar that is dragging down gold. Corrections are a part of the long term bull rally. After 2012, gold has the best chance to rise to $2000 over the next few years.

 

COMEX GOLD APRIL 2019 – current price $1311.80

Bullish over $1317.10 with $1325.50 and $1335.70 as price target

Bearish below $1309.60 with $1304.30 and $1294.10 as price target.

Neutral Zone between: $1309.60-$1317.10

·          Small sell off will be there below $1309.

·          Crash will be there if gold does not break $1321.

·          Gold needs to trade over $1321 to negate the neutral trend.

COMEX SILVER MARCH 2019 – current price $1569.30

Bullish over $1584.00 with $1594.50 and $1612.50 as price target

Bearish below $1570.50 with $1555.00 and $1539.50 as price target

·         Small sell off will be there below $1560.00.

·         Chances of correction will be high as long as silver does not break $1594.

·         Silver needs to trade over $1584 to rise further.

NYMEX CRUDE OIL (FEBRUARY 2019)  - current price $52.56

Bullish over $53.00 with $54.60 and $56.00 as price target

Bearish below $52.00 with $51.40 and $50.60 as price target

·          Crude oil needs to trade over $51.60-$52.00 zone to rise to $54.50.

·          Small sell off will be there below $52.00.

COMEX COPPER MARCH 2019 – current price $278.80

Bullish over $281.00 with $285.00 and $288.10 as price target

Bearish below $278.80 with $276.40 and $273.70 as price target

·         Copper needs to trade over $277-$278 zone to rise to $282 and $285.

·         Small sell off will be there below $277.00.

·         Trend is slightly down.

HAPPY PROFITABLE TRADING

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific 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. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Website www.insigniaconsultants.in. 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

The analyses are based on closing price as per February 08, 2019. Maintaining proper stop loss is always recommended.

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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 -- Published: Tuesday, 12 February 2019 | E-Mail  | Print  | Source: GoldSeek.com

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