This quarter was a trader's paradise. Volatility was good in currencies, metals as well as energies. Stock market bears and bulls had a nice tug-o-war. I do not see a repeat in the third quarter. Volatility will be less. Change will be there but it will be smooth and orchestrated by central banks and their aided financial institutions. My only message is invest in instruments which have strong medium term fundamentals. Invest before the herd jumps in.
Economics & Trump trade wars
Central banks are now very alert and watching and intervening sharp moves in stock markets, bonds and currency markets. Chinese and Indian central banks are there to intervene. The Chinese are opening more sectors to global companies. The Chinese will give India and other emerging market nations a tough competition to attract foreign investors into the financial service sector. So far India was way ahead as compared to the Chinese in financial sector reforms. This gap is now narrowing.
Traders will start taking positions for US June nonfarm payrolls next Friday. A big data announcement which can spook everyone.
COMEX SILVER SEPTEMBER 2018 - current price $1601.50
Bullish over $1600.00 with $1625.50-$1643.50 and $1669.50 as price target
Bearish below $1586.50 with $1571 and $1559.50 as price target
?,? Key intraday support is at $1586.50. Crash will be there only below $1587.90.
? There can be pullback rallies to $1643 as long as silver trades over $1586.50.
? Momentum is down. Look for signs of trend reversal.
MCX GOLD AUGUST 2018 - previous day close Rs.30508
? 100% retracement is at 30350. Gold needs to trade over 30350 in July to rise to 31051.
? Trend is down as long as gold trades below 30753.
? But another wave of sell off will be there only below 30350.
(prices in Indian rupees above)
HAPPY PROFITABLE TRADING & HAVE A GREAT WEEKEND
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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