On Monday commodities and global market remained very quiet without USA. China and Hong Kong recovered sharply as people see now Coronavirus is coming under control without spreading faster. China announce another support package to economy. European market gained on this news as well.
On Monday currency market remained directionless. Natural gas and palladium gained in the thin trading sessions. Traders or market makers in palladium are trying to throughout those are in short positions and gas rebounded by weaker hands. Scorpio Moon ended now so read trend will start.
Apple just warned on earning, according to release they expect fall in revenue due to China shout down. Apple closed it most of store three weeks back in China. Also they manufacture most of stuff Apple products in China. There will be some pressure on tech and semiconductor stocks when tomorrow market opens for trading.
If Retro Mercury able to put some negative impact on USA market then there will be uncertain trend in market for the next two to three week. If Market rebound late today after opening weaker then rally will continue so watch carefully.
I believe “2020 financial Prophecies” book will be great gift from you if anyone is trading or investing in market and you want to surprise him/her with our theory. No theory exist which can guide you one year in advance what would happen in each month.
This is what we stated: In our book I predicted that China will have worst time cycle from 2023 so plan your strategy accordingly.
· Gold acted well, must close above $1588 for the three days which may push toward $1616 and then $1663 but at this stage is struggling to close above this level so watch closely. If gold goes to $1663 then silver will test $20.23 and Platinum $1059/988.
Here are the trading strategies and ranges for Tuesday:
On Precious metals traded mix but base metals remained in the positive directions. On Monday very thin trading sessions Palladium, Zinc and Nickel traded higher, Palladium retested early this year high of $2430 (March contract). I have noticed in the last twenty years that on during USA holiday European traders takes advantage in any volatile commodities. Today and tomorrow base metals can hold value but Thursday we recommended sell in our weekly newsletter so get ready to sell positions on Thursday.
I recommend taking small long in gold and silver on Tuesday as I expect some positive momentum. Buy also NUGT and JNUG as mentioned in our weekly newsletter.
Overall Tuesday is positive day for metal and mining stocks.
Scorpio Moon is always very danger for any traders and I always recommend traders to remain sideline.
This is what we mentioned yesterday: On higher side this week gold may cross $1600 and may test $1616 level. Global equity market at all time high, and dollar index is also around multi year bit these both positivity is not able to pull down gold which is great news for investors. Now on lower side gold may hold $1560 level. Silver and platinum will follow gold.
Stay away, Thursday onward copper, palladium, zinc, nickel and aluminum will move down sharply lower so get ready to take trade. Palladium is failing to move above $2369 level so keep this level in mind to take more shorts.
China went up more than 2.3%. Hong Kong also went higher. USA market remained higher in electronic sessions but today few hours back Apple announce warning on revenue guidance which push Nasdaq and other USA indexes lower.
Tuesday opening may be negative, but overall Tuesday astro combinations are very positive so we may see recovery coming in the second half of the day.
On Tuesday we see biotech stocks coming forward and taking lead which may help NASDAQ.
Mercury is key planet which got retro today, if Tuesday market fail to recover that would be bad sign for the short term so let’s see whether Mercury able to change market trend from here or not from today. I still believe market will recover.
Tuesday’s trading ranges: (March 2020 Contracts)
HONG KONG (cash) –28078 to 27811
NIFTY S&P (Spot) – 12059 TO 11971
NIKKEI – 23655 to 23405
CAC – 6095 TO 6047
DAX – 13809 TO 12709
FTSE – 7401 TO 7325
DEX EURO STOXX – 3853 – 3825
DOW e-mini – 29501 TO 29287
S&P e-mini – 3388.00 TO 3368.00
NASDAQ 100 e-mini – 9659 TO 9571
RUSSELL e-mini – 1693.00 TO 1680.00
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