Global Equity Indices
Today onwards, major global markets are going to start with a correction. By 31st, a massive correction is possible.
It is advised to short stock indices at higher levels. Bearishness may be visible in European markets alike.
Bullion has hit our target in the previous session. Gold made a high of 1365 while Silver made a high of 17.72. We hope you have booked profit. Today, the trend is mixed. The trend can move slightly upward. Gold has support at 1340 while Silver has support at 17.30. From next week, a correction is possible. Positional traders shall wait for next week to add a position.
Copper and other base metals have started to correct. In next week as well, correction is possible.
Crude oil made a top of 66.50 in the previous session. Here onwards, it is in a phase of correction and shall continue in the negative trend for next week. It can breach 63. It is advised to short oil at higher levels.
NG made a high of 3.60 and is now in a correction mode. It is advised to short NG at higher levels. In next week, it can drop to 3.15 or lower.
EUR/USD made a high of 1.2580 in the previous session. At the higher level, one can short EUR/USD. It can drop to 1.2200 in the next week.
It is advised to long dollar index with S/L 88.30. In next week, it may cross 91.
Buy USD/JPY on dips. In next week, it can breach 111.
It is advised to hold a short position in US Treasury Bonds – 10 YR & 30 YR as in next week, we are anticipating a considerable correction.
Bitcoins & Ripple
Bitcoin is in positive trend with some volatility. It is advised to hold a long position in bitcoin.