Gold is becoming the safe haven for all funds and investors in the presence of all fear in the equity markets. Difficult for me to say at this time how far up it will go. but one thing is sure the day the equities rebound it will fall sharply and that wont be a pretty sight. So if you have the ability to with stand the M2M start shorting the gold futures which expire on diwali or after that. Doing even a Gold mini would be good.
CRUDE OIL Trend and Update 8 august 2011:-
Looks pretty dead to me . Oscillators are pointing to a way down. But then again we need to see how the European markets open up cause asian markets will not give it any direction. And even if the Europeans don't give a direction ( they wil take their cues from Dow Futures) we will just have to wait for the US mkts to give us a pointer. Meanwhile keep an eye on the Dollar index also. On a downside expect a minimum move of INR 18-23.
SILVER Trend and Update 8 august 2011:-
Morning everyone. Silver looking weak on 15 min , 30 min and hrly charts.I would not like to take a long position now but we ready to take a short. In addition it has touched its immediate resistance twice already 40.29 USD when it touched it about 45 minutes back. So please be ready to short it. Minimum points INR 400-500.
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