-- Published: Friday, 27 December 2019 | Print | Disqus
Traders will start taking positions for January. January will be the real test for gold and silver bulls. Signing of trade deal, Brexit, various US jobs numbers and Chinese demand and Chinese economic growth around the Chinese New Year. Bonds can also be a surprise winner if gold and silver sell off in January. I am bullish on global stock markets if the trade deal is signed in January. Trade deal has been factored in by the markets. But still there is a lot of room for stocks to rise if the deal is actually signed and further progress is made to normalize US-China trade deal. Bond price moves will impact gold and silver more in January than stocks.
Except for the Pound, currency markets did not see big volatility. 2020 should be a day traders paradise for currency traders. I prefer gbp/jpy and euro/yen trades over the rest. US election years generally results in currency resetting.
COMEX SILVER MARCH 2020 – current price $1799.70
Bullish over $1807.70 with $1834.60 and $1884.40 as price target
Bearish below $1790.50 with $1775.50 and $1751.50 as price target
· Silver needs to trade over $1790-$1800 zone to rise to $1834 and $1884.
· Sellers will be if silver does not break $1834 by Monday.
MCX Crude oil 17th January 2020: (previous day close/CMP Rs.4410.00)
1. Crude oil needs to trade over 4370-4390 zone to rise to 4453 and 4500.
2. Sellers will be there below 4370.
3. Watch 4410. Crude oil can move 150 either side from 4410.
4. Risk traders take a chance and sell crude oil at 4500-4510 strict stop loss over 4566 for Monday.
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. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani
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NOTES TO THE ABOVE REPORT
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-- Published: Friday, 27 December 2019 | E-Mail | Print | Source: GoldSeek.com
