Gold: As expected some unexpected move happened....But there is nothing to panic about the drop.....
I was expecting some drop ....as I said before Gold is still in ABC correction for which the targets I have set for my self are 32780-33000 zone....then 35000-37500 zone for sure.....then it may extend till 42000++ levels......
For this move the buying zones are 29300 then 28500-28700+ levels......and it may extend till 26400.....But I will not wait till 26400 levels.....There is good fibonacci support of 50% at 28570-28700 zone and also a previous support....which make this level as very strong support....
So my maximum bet I will put in this zone alone....
Now Gold will make a correction move from 29250 (Friday Low ) till max 29900-30000 zone which is selling zone for targets near 28580-28700 levels where I will buy maximum and for targets 37000 minimum....
Base metals have shown a good run as expected ( My long term target for Zinc 174 is achieved....bought at 97 ....Cheeeerrrrss for it) and my strategy of selling on rise has given me chance to recover and make some good profit on this....With the move made on Friday has created a reversal candle for base metals and now Base metals may pull back upwards a little and fall more.....I will be taking profits on dip and sell on rallies.....I will look for selling the rallies...
Crude may go till 3095 and break and if sustain above it again 3260+ levels to reverse back for much lower targets.....I will take it step by step....
Natural Gas....As expected have not broken 169 my stoploss and I will keep buying ti in the zone of 172-170 maximum lots....Now its Natural Gas turn to make big upside move.....
I was expecting some drop ....as I said before Gold is still in ABC correction for which the targets I have set for my self are 32780-33000 zone....then 35000-37500 zone for sure.....then it may extend till 42000++ levels......
For this move the buying zones are 29300 then 28500-28700+ levels......and it may extend till 26400.....But I will not wait till 26400 levels.....There is good fibonacci support of 50% at 28570-28700 zone and also a previous support....which make this level as very strong support....
So my maximum bet I will put in this zone alone....
Now Gold will make a correction move from 29250 (Friday Low ) till max 29900-30000 zone which is selling zone for targets near 28580-28700 levels where I will buy maximum and for targets 37000 minimum....
Base metals have shown a good run as expected ( My long term target for Zinc 174 is achieved....bought at 97 ....Cheeeerrrrss for it) and my strategy of selling on rise has given me chance to recover and make some good profit on this....With the move made on Friday has created a reversal candle for base metals and now Base metals may pull back upwards a little and fall more.....I will be taking profits on dip and sell on rallies.....I will look for selling the rallies...
Crude may go till 3095 and break and if sustain above it again 3260+ levels to reverse back for much lower targets.....I will take it step by step....
Natural Gas....As expected have not broken 169 my stoploss and I will keep buying ti in the zone of 172-170 maximum lots....Now its Natural Gas turn to make big upside move.....