-- Published: Monday, 27 January 2020 | Print | Disqus
Gold and silver will remain firm as long unless a vaccine to the Chinese corona virus is found. Treatment is there for the virus but there is no vaccine. The quicker the spread of the corona virus globally the quicker will gold and silver rise. Yen will also fall sharply if the numbers zoom. Numbers (of people affected by the corona virus) are suppressed or fudged globally to prevent a panic.
Spread of Chinese Corona Virus and it related news
1. China says virus's ability to spread getting stronger.
2. Chinese authorities are also saying that knowledge of the new virus is limited and that they are unclear on the risks posed by mutations of the virus.
3. China has also come forward with news that the virus can spread before symptoms show. The country's health minister Ma Xiaowei confirmed the news, which has panicked some US doctors.
4. Hong Kong has also banned the entry of visitors from China’s Hubei province, where the new coronavirus outbreak was first reported.
5. China is also planning to extend the New Year Holidays beyond 30th January to prevent the spread of this disease.
Industrial metals are on the verge of testing key long term support. If they continue to fall after London opens, then there will be a technical breakdown and another wave of sell off. It remains to be seen if Nymex crude oil manages to trade over $50.00.
Trump and his impeachment, Middle east talks and other things are there as well. Do not ignore them. Volatility will rise.
COMEX SILVER MARCH 2020 – current price $1822.70
Bullish over $1810.00 with $1839.90 and $1876 as price target
Bearish below $1796.50 with $1783.30 and $1755.00 as price target
· Silver needs to trade over $1800-$1810 zone to rise to $1860 and $1880.
· Remain on the sidelines in silver.
· Key resistances are yet to be broken.
MCX Crude oil 19th February 2020: (previous day close/CMP Rs.3789.00)
· Crash will be there only below 3731 to 3667-3600 and 3500.
· Crude oil needs to trade over 3850-3880 zone to rise further.
· Oversold. Rise can happen anytime.
(prices 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.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
Follow us on Twitter @insigniaconsul1
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
ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.
You can also mail your queries at insigniacommodity@gmail.com
Chat Id: telegram/whatsapp 9311139549
(9:30 am to 9:30 pm Indian time, Monday to Saturday)
| Digg This Article
-- Published: Monday, 27 January 2020 | E-Mail | Print | Source: GoldSeek.com
