-- Published: Monday, 30 December 2019 | Print | Disqus
Party hard and party late till 1st January. Comeback relaxed with a vengeance to trade and invest. With Insignia Consultants good times will always last.
Thank you everyone for your support year too. Since founding “Inisgnia Consultants” in May 2003, I have been making changing changes (every year) to ensure that our clients are updated with all the information to make maximum profit. “To err is humane”. There have been days where our views on some metals, energy or currency bombarded. Still our clients have supported us. Thank you for the same.
In my view 2020 will be the best year for trading in all metals, energies and currency markets. Head and shoulder formation on the technical chart in gold and silver. This is a bullish signal. If gold and silver rise this week, then they will be at stratosphere. Crude oil and copper are also bullish. Thin trading volumes will be there till 2nd January. Big day will be 3rd January due to various US jobs numbers.
Chinese changing their interest rate system should be long term very bullish for all industrial metals. Chinese changing their IPO (initial public offering) norms will give its neighbors (India, Singapore etc) some tough competition.
Look for signs of profit taking.
COMEX GOLD FEBRUARY 2020 – current price $1517.90
Bullish over $1515.10 with $1526.30 and $1540.90 as price target
Bearish below $1510.90 with $1504.60 and $1498.30 as price target
· Gold needs to trade over $1510-$1514 zone to rise to $1535.90.
· Crash will be there if gold trades below $1510 to $1500 and below.
MCX Gold February 2020: (previous day close/CMP Rs.38990.00)
1. Key resistance is at 39193. Only a break of 39193 will trigger a rise to 39608 and 39882.
2. Crash will be there over 38831 this week to 38553 and 38278.
3. Trend is bullish but look for signs of profit taking.
(prices are in Indian rupees above)
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
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, 30 December 2019 | E-Mail | Print | Source: GoldSeek.com