Owing to the highly volatile trend observed in bullion, our team decided to open a portion of our position and view on precious metals.
Key points to be noted:
The major support for GOLD lies at 1250.With this level as stop loss, we have entered into long position for target 1278-1288.
Similarly, we built long position in Silver @ 17.60 with S/L 17.40 for target 18.00-18.60.
Advice about crude oil:
We are short in crude oil @ 49.90 for positional target 43.00 and below.
What’s next in S&P500??
Also, we advised short position in s&p500 (dec) @ 2155 for target 2140-2135.
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