Developments in Syria are explosive. The FBI raid on Trump's lawyer's office reflects political instability in the USA. These factors can result in a quick rise for gold and decline of the greenback. The US-China trade war can subside in the short term but long term damage has been done to American credibility as a trading partner. Nations will find new ways and means to defriend the USA in way that the so called trade sanctions does not affect them. All global developments (apart from economics) are bullish for gold. Economically gold should fall in the short term as the global economy is robust.
The world is going through a transition phase. (a) From a paper currency based world to a paperless currency world (b) From traditional currencies to crypto currencies (c) From fossil fuels to non-fossil fuels (d) From physical investing to virtual investing. These are just some of the examples of transition. Gold and other safe havens will benefit the most in the current transitions phase. There will be big bouts of volatility in gold. But overall bullish trend will be evident.
COMEX SILVER MAY 2018 - current price $1646.00
Bullish over $1641.50 with $1656.50 and $1676.00 as price target
Bearish below $1635.20 with $1615.90 and $1609.70 as price target
Neutral Zone between: $1635.20-$1641.50
?,? Silver needs to trade over $1631 to rise to $1662 and $1689.00.
?,? Silver will zoom if it manages to break and trade over $1654 today.
COMEX COPPER MAY 2018 - current price $309.40.
Bullish over $306.60 with $311.10 and $314.80 as price target
Bearish below $303.90 with $301.90 and $298.80 as price target
Neutral Zone between: $303.90-$306.60.
?,? Copper will zoom to $316.10 if it manages to trade over $308.00.
?,? Sellers will be there below $306.60.
HAPPY PROFITABLE TRADING
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto 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. 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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