14th June: Gold and Copper report
TIME: 7:25 am IST
Gold and silver need to trade over $1257 and $1649 till tomorrow to continue its bullish trend. Copper and crude oil will trade in the technical. FOMC meet tonight will be the key. In case interest rates are not hiked, gold, silver and copper will zoom. I believe that there is a fifteen percent chance that interest rates will not be hiked today.
Gold August 2017: Overall trend is down as long gold trades below 29060. But key support is 28782. Big sell below 28782 to 28625 and 28490. I am against buying gold unless it breaks and trades over 29060. Jobbers watch 28933 and 29060 all the time.
MCX Copper June 2017: Copper needs to trade over 367.40 today to rise to 372.20 and 377.10. Sell off only if copper trades below 367.40 to 363.90 and 358.80.
Comex Gold August 2017: Gold has a key support at $1259.40. Gold can rise to $1299.10 by tomorrow as long as it trades over $1259.40. Buying preferable only if gold trades over $1273 either in UK session or US session with some stop loss.
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. 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.
NOTES TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
PLEASE USE A STOP LOSS OF MINIMUM RS.5000-RS.8000 PER LOT ON ALL INTRA DAY TRADES
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORT
Indian Standard Time (IST): +5:30 GMT