GLOBAL EQUITY INDICES
Last evening, S&P500 FUT made a low of 2050 and then climbed up to 2070-2073. Currently, it is trading above 2060. Today, it is expected to be in state of recovery. It could move up to 2080-2090. After US opening, fall may again be observed. Next day could be a day of major correction.
Around today’s US opening, you can build short position in S&P500 (around 2080-2090 / price at US opening) for target 2040-2040 by tomorrow.
PRECIOUS METALS
Last day, Gold made a low of 1066 and a high of 1078. For today and tomorrow, Gold is bullish – a considerable upward move may be observed. It is recommend to “buy (gold & silver) on dips” for target 1088-1095 & 14.60+ respectively.
Today, US hours shall prove to be positive for bullion.
Next day seems to be really positive for price of Gold and Silver.
In case Gold reaches 1085-1088 today itself, you can book 50% profit and hold rest position for next day.
On Friday, profit booking may be observed.
CRUDE OIL
Crude Oil as expected dropped down to 36 and then bounced back to 38.60. It is currently trading above 38 – which is a sign of relief. Probably, the low for short term has been made. By next day, we are expecting a really bullish trade in oil leading it to cross $40/bbl.
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