Part of newsletter sent on 1st April 2016
PRECIOUS METALS
Bullion shall be in bearish trend for the day. Maintain “sell on rise” strategy for Gold and Silver.
After data announcement, Gold can drop to 1214-1205 while Silver can drop to 15.10 but closing shall be 10 to 14$/Oz higher for Gold and 0.50$/Oz for Silver. Around US closing, price of bullion may move up.
Next Monday and Tuesday shall be bearish for bullion. In next week, Gold can drop to 1195 while Silver can drop to 14.70.
Around 15.10 and 1215-1214, book 50% profit in short position of Silver and Gold respectively.
TRADING RANGE:
– GOLD: 1241-1214
– SILVER:15.60-15.10 & BELOW
CRUDE OIL
If Crude oil moves up to 37.80, book 50% profit and hold rest 50% for next week – target 36.
Make short position in crude oil at 39.
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