Monday, July 22, 2019
TIME: 21:21 pm IST
METALS WRAP UP BEFORE WE CLOSE
Lack of news has resulted in steady and range bound trade in gold, silver, copper and crude oil. Price moves today suggest that day trades are on the sidelines. Iran news will be the key.
A strong US dollar against the euro and cable has prevented gold and silver from rising. Overall trend is bullish. Corrections if any will be a part and parcel of the bull trend.
What next for tomorrow?
I am not going long for PREMIUM CONTENT FOR SUBSCRIBERS ONLY
Interest rate hike has already PREMIUM CONTENT FOR SUBSCRIBERS ONLY
Comex Gold August can move $25-$30 either side from the current price of $1427.
Comex silver September PREMIUM CONTENT FOR SUBSCRIBERS ONLY
Comex copper needs to fall below $267 or break and trade over $278.60 for direction.
Nymex Crude oil is fundamentally bearish.
Zinc, is testing key medium term supports. It will see another wave of sell off if they fall further tomorrow. Natural gas looks bullish. Nickel has corrected. I expect more correction in nickel tomorrow.
MCX Gold August: PREMIUM CONTENT FOR SUBSCRIBERS ONLY
MCX Silver September: PREMIUM CONTENT FOR SUBSCRIBERS ONLY
MCX Crude oil August till tomorrow PREMIUM CONTENT FOR SUBSCRIBERS ONLY
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
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