Buy on dips strategy traders won for the short term (in gold, silver, and copper). Trump’s decision to postpone tariffs for nations to negotiate can result in a relief rally for crude oil, silver, copper, and non-ferrous metals. Spot Gold is also bullish as well.
Trump’s “Temporary U-Turn on Trade Tariff War” policy will ensure a bullish trend in gold and silver. There is no certainty that the negotiation period of ninety days will be postponed or extended. Large hedge funds and the richest people make maximum profit, in short, selling any asset class. Team Trump has once again used the “shock and reverse” method to make trillions of US dollars in naked short-selling profit in less than a week. My humble advice (for the next four years) is that “we should not get caught in an adverse position when Donald Trump’s “shock and reverse” announcements are made. Avoid panic (during shock and reverse trump announcements) by using trailing stop losses in all short-term trades and short-term investment.
US-China trade relations will now be the global focus. Any further escalation can negatively impact copper prices and non-ferrous metals. Trump has averted a global recession for ninety days. What happens in July, after US Independence Day cannot be predicted. It will be just a wild guess.
SPOT SILVER – current price $31.11
- TODAY VIEW: Spot silver has to trade over $30.52 to rise to $32.65, $33.82 and more.
- A mild sell-off will be there only on a sustained fall below $30.52 today.
- Sharp unexpected two-way price moves will continue today as well.
- Views are intraday,
Disclaimer
The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have deemed to accrue to me out of providing such investment ideas.
The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.
I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.
Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.
NOTES TO THE ABOVE REPORT
- ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
- Follow us on Twitter @chintankarnani
- 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
- ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.
- ALL NEWS IS TAKEN FROM REUTERS NEWSWIRES.
- TECHNICAL ANALYSIS IS DONE FROM TRADINGVIEW SOFTWARE
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