Gold needs to trade over the $1225-$1230 zone to rise. Silver needs to break and trade over $14.90 to start another wave of rise. Copper and industrial metals will be very volatile. Crude oil will be very volatile. Brexit woes and political issues within the Eurozone have resulted in a firm US dollar. The Euro and cable have fallen slightly. Investor sentiment towards the euro and cable is shaky.
It is wait and watch for the global economy. No one knows the real impact of "deglobalization" or trade wars whichever way we can name it. Gold should rise. Unless key resistances are not broken, fears of correction will always be high in gold. Silver will break free from the $14.20-$15.00 trading range and form a new range. Boom or bust time for silver in the next ten days. Demand side fundamentals are bearish for crude oil. Supply pressures are artificial and created by the USA to support its friendly nations and republican backed crude oil conglomerates.
Physical gold demand is not there in any form in India. Silver demand is there and will continue to be there on dips. Indian gold prices are rising to new multi year highs every day. Only a one percent drop will attract buyers.
COMEX GOLD DECEMBER 2018 - current price $1231.00
Bullish over $1232.10 with $1237.20 and $1247.90 as price target.
Bearish below $1225.10 with $1214.80 and $1208.10 as price target.
Neutral Zone between: $1225.10-$1232.10
? Only a break of $1240 will trigger a rise to $1254 and $1269.
? Small sell off will be there below $1228.
? Crash will be there if gold does not break $1240 today or in case gold falls below $1221.
COMEX COPPER DECEMBER 2018 - current price $278.80
Bullish over $280.20 with $284.30 and $288.10 as price target
Bearish below $278.10 with $273.90 and $269.10 as price target
Neutral Zone between: $278.10-$280.20.
? Crude oil needs to trade over $280.90 till Friday to be in a bullish zone and zoom.
? Small sell off will be there below $275.00.
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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