VIEW ON PRECIOUS METALS

Today, bullion shall be highly volatile. But some recovery is indicated from evening hours /US hours.

Again profit booking shall come in late US hours.

Bullion shall be negative from tomorrow.

Any time, a sharp correction is possible with volatility till 15^th May 2013.

Gold’s upper level shall be 1,496 and Silver’s upper level shall be 24.86.

For intra-day, you can maintain buying position in bullion with stop loss 23.80 & 1460 respectively for Silver and Gold. But in late US hours, you can make short position on higher levels (around 1,480, 24.60) for target 1,420-1,380 & 22.00 in coming days.

Today’s Trading Range:

GOLD: 1,465-1,485

SILVER: 23.90-24.80

View On Energy Products:

As said, Crude Oil is going down. The correction had started yesterday, which we expect to continue in coming days.

In short term, Crude Oil can go down to 88-87$/bbl.

You can hold short position with s/l 95.60.

Natural Gas shall have volatile to mix trend.

Trading Range:

-CRUDE OIL:94.60-91.80

-NATURAL GAS: 4.12-4.18

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