Trump is using Chanakya Neeti called "Saam, Daam, Daand, Bheed" on North Korea issues. This means first negotiate, if negotiate does not work then buy him, if buying does not work then threaten him, if threatening also does not work, then use a divide and rule policy. The last resort is an armed conflict. Lessons from Libya have been learnt by North Korea. China and Russia its neighbors are there to advise North Korea. Traders will prefer to go long in gold on the mini vacation weekend instead of short.
Next week we also have the US April nonfarm payrolls. The FOMC meeting in June will impact financial markets as there will be a press conference and not just a statement. Anyways Trump tweets and comments anytime impacts markets more than anything else. Trump says that the USA is war ready for North Korea. When is USA not war ready? It pokes its nose on even on the smallest decision made in any country. A wounded person in hospital has the tendency of complaining even on the sound of his breathing. The USA is now like a wounded person. The current phase of gains in the US dollar (may be till next year) is the last of the century of greenback supremacy. There is no replacement to the US dollar yet. Better to increase holding of physical gold in this transition period.
There will be position squaring and rebuilding for next week.
COMEX SILVER JULY 2018 - current price $1667.50
Bullish over $1666.80 with $1677.50 and $1699.00 as price target
Bearish below $1654.90 with $1641.50-$1627.50 as price target
?,? Silver needs to trade over $1666 today to rise to $1699 and $1703.
? Sellers will be there below $1666.
? Watch $1666 all the time.
HAPPY PROFITABLE TRADING & HAVE A GREAT WEEKEND
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.
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NOTES TO THE ABOVE REPORT
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