Comex and Forex Mid day Report: 7th January 2019
Monday, January 7, 2019
TIME: 2:04 pm IST
COMEX AND FOREX MID DAY REPORT
Comex Gold February 2019: Support: $1284.30-$1290.10 Resistance: $1298.80-$1306.10. (a) Gold needs to trade over $1290 for the rest of the day to rise to $1301.20 and $1309.60. (b) Small sell off will be there below $1290 and crash below $1282 only. (c) Momentum is bullish.
Comex Silver March 2019: Support: $1566.50 Resistance: $1605. (a) Small sell off will be there below $1574. (b) Quick rise will be there over $1596. (c) Better to remain on the sidelines for the rest of the day.
Comex Copper March 2019: Support: $261.00 Resistance: $268.10. (a) Copper can rise to $268.10 and $276 as long as it trades over $261.00. (b) Small sell off will be there below $261.00.
Nymex Crude Oil: Support: $47.90 Resistance: $49.30. (a) Quick rise will be there over $49.30 to $50.60 and $52.80. (b) Small sell off will be there only below $47.90.
Euro/usd: Support: 1.1390 Resistance: 1.1486 (a) Euro/usd needs to trade over 1.1390 till tomorrow to rise to 1.1514 and 1.1576. (b) Small sell off will be there below 1.1390.
Gbp/usd: Support: 1.2641-1.2692 Resistance: 1.2819 (a) Cable can rise to 1.2829 and 1.2918 by tomorrow as long as it trades over 1.2641. (b) Another wave of sell off will be there below 1.2641.
Usd/jpy: Support: 107.91 Resistance: 108.53 (a) Crash will be there only below 107.91 to 107.24 and 107.01. (b) Quick rise will be there over 108.53 to 108.80 and 109.62
Usd/idr: Support: 13972.50-14043.90 Resistance 14121.00 (a) Rupiah can fall to 13972.50 and 13807.50 this week as long as it trades below 14121.00 (b) A daily close below 14121 today and tomorrow will result in 13519 this week.
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.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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
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