Dear Members,
On Monday markets traded mix, gold traded unchanged but base metals lost value as predicted. Energy prices gained, and USD gained against most of currencies specially against emerging market currencies and pound gained value as predicted. Yesterday we mentioned that base metals like Copper, Palladium, Zinc and Nickel could fall 3 to 5% lower this week and we are still holding this predictions. Gold and silver may trade negative in Tuesday so selling is recommended around higher levels here below mentioned in todays flashnews ranges.
On Tuesday we see mix trading pattern in markets, and precious metals. Base metals will keep moving lower and oil may remain in positive directions. If markets closed negative then it could worst news for investors.
Soft traded mix on Monday and Tuesday trend will remain mix, hold positions in coffee and cotton if you have bought yesterday.
Grains moved in mixed zone on Monday except corn moved sharply higher. On Tuesday we see grains trading mix, but wheat and corn can still gain value.
Dollar will remain in mix zone but will gain against emerging market currencies. Rupee test 64.11 predicted level now Dollar may move toward 65.00 level but Rupee is our most favorite trade.
On Monday UVXY and VIX moved sharply higher. On Tuesday buy DUST aggressively.
Thanks & God Bless
Mahendra Sharma