New Delhi
Friday,
August 23, 2019
TIME 8:23 AM
IST
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COMEX FUTURES REPORT
I do not
think, there will be any surprises in Jackson hole conference. Central banks
are just cutting interest rates as a fall out of the US/Trump induced trade
war. Yesterday Indonesian central bank cut interest rates for a second
consecutive month.
Be prepared
for big one way moves in gold and silver anytime either today or Monday. Silver
and copper September futures are expiring next week.
HOW TO TRADE
TODAY
1.
Gold: Crash
will be there below $1498.10.
2.
Silver needs
to trade over $1480 to be in bullish zone.
3.
Crude oil needs
to trade over $55.00 to be in bullish zone.
4.
Copper needs
to trade over $252 to prevent a crash.
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COMEX/NYMEX TECHNICAL LEVELS
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GOLD DEC 19
|
SILVER SEPT 19
|
COPPER
SEPT 19
|
CRUDE OIL
|
|
CMP
|
$1,504.95
|
$1,700.30
|
$255.60
|
$55.45
|
|
S5
|
$1,472.00
|
$1,637.00
|
$246.35
|
$53.06
|
|
S4
|
$1,480.76
|
$1,653.08
|
$248.61
|
$53.61
|
|
S3
|
$1,490.25
|
$1,670.50
|
$251.05
|
$54.21
|
|
S2
|
$1,494.56
|
$1,678.41
|
$252.16
|
$54.48
|
|
S1
|
$1,499.89
|
$1,688.19
|
$253.53
|
$54.81
|
|
|
|
|
|
|
|
R1
|
$1,517.11
|
$1,719.81
|
$257.97
|
$55.89
|
|
R2
|
$1,522.44
|
$1,729.59
|
$259.34
|
$56.22
|
|
R3
|
$1,526.75
|
$1,737.50
|
$260.45
|
$56.50
|
|
R4
|
$1,536.24
|
$1,754.92
|
$262.89
|
$57.09
|
|
R5
|
$1,545.00
|
$1,771.00
|
$265.15
|
$57.64
|
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ALL PRICES IN US DOLLAR ABOVE
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CMP = Current Market Price
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ABOVE TECHNICALS ARE ONLY FOR REFERENCE
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COMEX GOLD DECEMBER 2019 – current price $1504.95
Bullish over $1509.20 with $1528.60 and $1548.90 as
price target
Bearish below $1501.30 with $1488.90 and $1474.50
as price target.
Neutral Zone between: $1501.70-$1509.20
Small sell off below: $1499.10
Quick rise over: $1513.60
Jobbers aggressive buy over: No call
Jobbers aggressive sell below: No call
·
Crash will be there below $1495 OR in case
gold does not break $1523.
·
Watch $1500. Gold can move $15 either side
anytime from $1500.
·
There can be very sharp two way moves today.
COMEX SILVER SEPTEMBER 2019 – current price $1700.30
Bullish over $1700.00 with $1737.00 and $1770.00 as
price target
Bearish below $1680.00 with $1668.50 and $1637.70
as price target
Neutral Zone between: $1680.00-$1710.00
Jobbers aggressive buy over: Buy at $1660 stop loss
$1620.50 for $1770 – call till tomorrow.
Jobbers sell below: No call
Small sell off below: $1695.00
Quick rise over: $1720.00
· Silver needs to trade over $1670-$1680 zone to be in bullish zone and
rise to $1750.
· Crash will be there below $1670.
· SILVER WILL BREAK FREE FROM RECENT $1680-$1730 WIDER TRADING RANGE AND
FORM A NEW RANGE.
NYMEX CRUDE OIL (JULY 2019) - current price $55.45
Bullish over $55.00 with $57.20 and $58.60 as price
target
Bearish below $54.90 with $54.00 and $53.40 as
price target
Trading strategy: No call
· Crude oil needs to trade over $55.00 to rise to $58.20.
· Crash will be there below $55.00.
· Remain on the sidelines at current price.
COMEX COPPER JULY 2019 – current price $255.60
Bullish over $258.00 with $261.90 and $265.00 as
price target
Bearish below $256.50 with $253.00 and $250.30 as
price target
Neutral Zone between: $256.50-$258.90
· Copper needs trade over $254 to rise to $259 and $263.
· Small sell off will be there below $255.00.
· A daily close below $253 today should be very bearish for next week for
copper.
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. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. 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.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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PLEASE NOTE:
HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE
APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE TIME
GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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