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+
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