What’s next for bullion?

Sent on Friday, January 31, 2014

Stock Markets around the Globe
Today, global stock market shall be volatile to slightly positive. Profit booking is expected at higher levels. In next week, again, weakness is indicated till 4th February 2014.
From 5th February 2014, a U turn is indicated for major stock market(s) i.e. they shall enter in bullish direction.
You are advised to book profit in S&P500 long position @1,788-1,795.
And then you could make short position in S&P500 for next week with stop loss 1,805.

TRADING RANGE:
-DOW(FUT): 15,720-15,790
-S&P500 (FUT): 1,778-1,795
-NASDAQ(FUT):3,500-3,535
-NIFTY (SPOT):6,050-6,120
-FTSE (FUT): 6,470-6,520
-CAC40(FUT):4,180-4,210
-DAX (FUT):9,370-9,430
-HANG SENG (FUT):HOLIDAY

PRECIOUS METALS

Today, bullion shall be volatile to weak. As expected, sharp correction was observed.
This weakness shall continue till 13.45 HRS (IST).
And then onwards, the trend shall be supportive for bullion. U turn shall be seen in price of gold and silver.
Positional investors can add long position in GOLD @ $1,230/Oz ($10 + / – ), SILVER @ $19.00/oz ($0.10+/-).
By 4th February 2014, any time, a good rise is indicated.

TRADING RANGE:
-GOLD: 1,230-1,260
-SILVER: 18.90-19.45

INDUSTRIAL METALS

Industrial metals shall be highly volatile for the day. Positive trend is expected from next week {especially from 4th Feb 2014}.
TRADING RANGE:
-COPPER: 3.21-3.24

ENERGY PRODUCTS

Crude Oil and NG shall be volatile for the day however in coming week, they are highly bullish.
In next week, Crude may cross $99/bbl while NG may cross $5.50.

TRADING RANGE:
-CRUDE OIL:97.50-98.50
-NG:4.85-5.20

-CURRENCIES
You are advised to make long position in EUR/USD at lower levels.
USD/INR is expected to be positive till 4th February 2014.
TRADING RANGE:
-EUR/USD: 1.3530-1.3590
-USD/INR: 62.40-62.85
-DOLLAR INDEX: 81.20-80.80

US TREASURY BOND

US Treasury bonds shall move in positive direction after 14.00 HRS (IST). You are advised to book profit in short position before that.
Today, bonds shall go up. And that positive directional trade may continue up-to Tuesday with some volatility.
And then, a fall shall be seen.