One more upside movement is pending in Bullion after a retracement.....
Gold:
Hummm quite a good upturn , is't it?? Anyway my SL triggered and I have no positions in Gold now. Had booked loss in Gold but since I was accumulating silver and it hit my TGT 35000+ ( 35200) as told in previous posts....I have covered my loss in Gold....Plus I have quite a good profit in accumulating base metals for upside TGT pending....Watch 25580-25480-25400-25300 levels for upside movement....Gold may bounce back from these levels again.....
Now I will sell in small lots Gold at 26040 till 26188 with a daily closing basis stop loss 26260.......I don't expect Gold to survive above 26048 on daily closing basis and Gold initially may fall till 25500 and then after we might see some upward momentum coming back for upside tgt....But any upside TGT can be good chance to short it again .....this will be last upside movement......
But there is possibility of Gold going further up than 26260.....Lets take step by step.....
Silver
The above position I am expecting from taking a clue from Silver movement as Silver has not closed above 35200 on weekly closing basis I expect Silver to fall back again to 34000 levels and then last upside movement and then to continue downside towards 32000 ( which earlier I said will not cross ) now will cross and go till 31000+ levels .....
With further possibility of rise above 35200 for TGT near 36000 I will sell at key levels and accumulate for down side targets..
I will explain further in my next post.....
Base Metals:
As told before I am accumulating on each dip for higher TGT.....(Example Copper TGT 326-332.70....Zinc above 104.30 TGT 105, 108....will add more at 100.20)
Crude :
Now since crude is trading below 2690, my bias is on down side continuation....Crude has stron support at 2660 once broken then crude is expected to fall till 2552, 2452, 2352 levels.may be more till 1700....so I am holding selling positions in Crude
NG
I have buy positions since 138 and holding ....will add more at 140-141 ...TGT 162 and long term 174+
Gold:
Hummm quite a good upturn , is't it?? Anyway my SL triggered and I have no positions in Gold now. Had booked loss in Gold but since I was accumulating silver and it hit my TGT 35000+ ( 35200) as told in previous posts....I have covered my loss in Gold....Plus I have quite a good profit in accumulating base metals for upside TGT pending....Watch 25580-25480-25400-25300 levels for upside movement....Gold may bounce back from these levels again.....
Now I will sell in small lots Gold at 26040 till 26188 with a daily closing basis stop loss 26260.......I don't expect Gold to survive above 26048 on daily closing basis and Gold initially may fall till 25500 and then after we might see some upward momentum coming back for upside tgt....But any upside TGT can be good chance to short it again .....this will be last upside movement......
But there is possibility of Gold going further up than 26260.....Lets take step by step.....
Silver
The above position I am expecting from taking a clue from Silver movement as Silver has not closed above 35200 on weekly closing basis I expect Silver to fall back again to 34000 levels and then last upside movement and then to continue downside towards 32000 ( which earlier I said will not cross ) now will cross and go till 31000+ levels .....
With further possibility of rise above 35200 for TGT near 36000 I will sell at key levels and accumulate for down side targets..
I will explain further in my next post.....
Base Metals:
As told before I am accumulating on each dip for higher TGT.....(Example Copper TGT 326-332.70....Zinc above 104.30 TGT 105, 108....will add more at 100.20)
Crude :
Now since crude is trading below 2690, my bias is on down side continuation....Crude has stron support at 2660 once broken then crude is expected to fall till 2552, 2452, 2352 levels.may be more till 1700....so I am holding selling positions in Crude
NG
I have buy positions since 138 and holding ....will add more at 140-141 ...TGT 162 and long term 174+