-- Published: Friday, 24 April 2020 | Print | Disqus
A break of key technical resistances will result in another wave of rise in all metals and energies. Do not short crude oil. I expect crude oil prices to rise to $80 (nymex) next year once world gets over corona virus crisis. Crude oil producers and large speculators will more than make up for their current losses next year. Buy crude oil call options for August 2021 with a strike price of $70.00. Cheap and a good investment.
Who dares invests in bonds? Is the theme right now. Deflation will be for a few months. Stagflation will be theme from the final quarter of the year. Gold performs best in stagflation.
There is position squaring and rebuilding in options in every metal and energies and the US dollar Index. Sellers of put options in crude oil have dug their own grave. After the crude oil fiasco. I expect big change in hedging strategy worldwide. There were losses in ”options trade” in crude oil. This fear will grip other metals, energies and currency markets. Net result will be very high short term volatility in gold, silver, copper, crude oil and natural gas.
COMEX SILVER MAY 2020 – current price $1533.00
· Silver needs to trade over $1490-$1500 zone today to rise to $1605.
· Sellers will be there below $1510 and crash below $1495 today.
MCX SILVER MAY 2020 - current price Rs.41886.00
· Keep on booking small profit in silver trades as silver has not managed to rise.
· Silver has to trade over 41200-41400 zone to rise to 42460 and 43036.
· Key support till next week future close is at 40780. Crash or another wave of sell off will be there if silver trades below 40780.
(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
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NOTES TO THE ABOVE REPORT
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-- Published: Friday, 24 April 2020 | E-Mail | Print | Source: GoldSeek.com