-- Published: Tuesday, 9 April 2019 | Print | Disqus
Trump is now threatening European Union with new trade tariffs. The move is just to support Boeing as its rival Airbus is getting more orders after a Boeing latest plane crashes. A steady decline and decay in the USA-European Union relation is happening as a result of Trump’s bully attitude. Gold will rise. European Union will also reduce dependence on American exports and diversify as a counter to continued American threats. I believe that the North Atlantic Treaty Organization (NATO) is under a long term threat. It may not happen now. I expect it after six years. If Trump gets reelected in the next elections then America could suffer loneliness and alienation in the world. The only alternate is gold and will be gold in response to American trade colonization which the world is experiencing under Trump.
I am bullish on gold and silver today. Short covering and new long positions will be built if gold and silver rise today. FOMC minutes is something which traders are waiting. I do not expect any surprises in FOMC minutes.
Crude oil rise will be cause of concern. Venezuela and Libya are critical to global crude oil production. Thanks to Trump, supplies from both these nations are way below normal. The pace of rise of crude oil will only derail Asian growth and global growth. Watch crude oil price trend closely. Also be on the look for signs of correction.
COMEX SILVER MAY 2019 – current price $1521.30
Bullish over $1500.80 with $1536.00 and $1556.00 as price target
Bearish below $1492.00 with $1483.00 and $1460.50 as price target
· Silver needs to trade over $1520 to rise to $1556 and $1580.
· Small sell off will be there below $1514.
· Use a buy on sharp dips strategy with a stop loss below $1380 for June end.
HAPPY PROFITABLE TRADING
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 9 April 2019 | E-Mail | Print | Source: GoldSeek.com