Gold Update

As I thought before that Gold may test 28477 level , it did ....

I bought small quantity at 28740 and 28700 but my SL 28670 hit and Gold tumbled to 28450....I bought again at 28470 levels ....

Now I expect Gold to go up till 28800-28900 levels first.....

Here is how I would play this....as I am expecting bounce back from any levels below 28400....

I will buy till 28300 ....below this Gold can go till 28040-28080 zone ....break will see 27830+ levels ( as on monthly chart it broke resistance at 27833 , so it may test this level again..)....So I will sell for these targets ....but I will sell small quantity and book quick profits....

Gold is still in uptrend in Daily and weekly chart.....4 Hr chart is showing Down trend....15 min chart will turn positive if we get close above 28670 ( 15 min closing)....Then I expect that Gold might continue its uptrend for much higher TGT if it break 29340 .....I will sell small but buy big quantity....

But for sure there will be enough for sellers and buyers in both ways till it break 30200 level again....Gold will form Zig Zag patters ....

For any queries please call for free advice....

Gold Update 21 March 2016

Gold did not break 29820 today....I thought Gold will break it and may take support at 28740+ levels....

I was wrong in predicting down trend....Anyway but I got profit from my short positions....

I booked all short positions I will buy Gold above 29020

Now I will buy Gold till 29740-29700...TGT 30000+  I will keep a SL since Gold has chance of Going till 29477 Levels....

Trade safe

I am back ....Sorry for delay

Anyways.....

I ahve done as below

Closed all Long positions in GOLD and Silver....and now on short side for longterm TGT of USD 970.....

Taken Long positions in Crude and NG.....Long term TGT unknown....

Base metals ??? Let the magic remain with me.....

Positional now sell Bullions on rise and But Energy on dips....

Gold Update

My trailing SL hit this morning......Now no positions in Gold ......Except some Positional trade taken from 24800.....I will wait for fresh buying or selling for intraday only....

I am adding more Long positions in Gold and Silver.....( For Positional Trade)......

Gold retraced to 29100 -  levels from 30150+ level....then bounced back to 29960 level and again retraced till 29460+ level...

I think it has completed its consolidation and now ready to make new high / continuation of uptrend....

I have added more buy positions at 29100 and 29480 ....I will add more again if it go just below 29200 ( Chances of Gold going till 29200 level is very less...but still....) for TGT 30200-30500+ levels.....

Silver has not broken 37400 ( I have kept trailing SL below 37400 on daily closing basis).....Silver next TGT 38400-38800 zone.....and then through 38900 to 39500-39600+ zone...

I have booked all Long positions in Crude since it has not crossed 2650 and not given closing above 2650 on daily/weekly closing basis......Now I will take long positions only if daily closing is above 2650.....

I have opened fresh HUGE short positions ( Since I got small SL 2650 on daily closing basis) in Crude for short term ......TGT I am keeping flexible ( But I think Crude will make new low near 1475) .....I will watch for a break below 2380 and then 2200......

Base metals - I will add more buy positions on dips....My copper 1st TGT is 360-366 zone....Zinc 140+ etc etc

I was not able to put my intra day positions due to lack of time.....will be back from 15 March to post other commodities positions......

I WILL BE BACK FROM 15TH MARCH 2016

Till then Bullions will retrace downside and Crude and base metals will bounce back upside......

Gold below 29700 may bounce back from 29480 level.....But below 29480 Gold may retrace till 28500 and below 28400 tgt zone 27500-27475 levels and watch these levels for a good bounce back till my first target 32700+.....(USD 1400+ - 1540)

I WILL KEEP LONG POSITIONS AND ADD MORE OF ANY RETRACEMENTS.......I WILL NEVER SELL FOR RETRACEMENT......MY TGT IN COMEX USD 1500-1540+

Crude may got till 2600+ (or may be more) levels to reverse again for levels below 1600.....Long term view still bearish till 1600-1500 is hit.....(USD 25-USD18in comex) 

BUT THERE ARE GOOD CHANCES OF NOT SEEING 2000 LEVELS IN NEAR FUTURE.....CRUDE OIL MIGHT HAVE JUST BEGUN A UPTREND....THERE MIGHT BE SOME RETRACEMENTS JUST ABOVE 2000-2200 .......SO I AM KEEPING MY LONG POSITIONS FOR MUCH HIGHER TARGETS....

Overall View still remains bullish for Bullions  and Crude will eventually fall to new low levels.....Watch USD 42 level in Crude (in Comex)......for potential reversal

Trade safe ....cheers