Tuesday, 11 August 2009
Dear Members,
So far markets are trading as predicted for the last 39 hours. We are very negative on British Pound on Monday and yes it did traded weak yesterday. We creaky mention that Swiss Franc will gain value again against Pound and Euro and we saw in last 39 hours that Franc has been gaining value against both of these currencies.
Our out look on Canadian dollar and Australian dollar is also weak and so far today both these currencies have been trading weak so one can hold short position in both of these currencies.
On other hand US Dollar is trading positive, it is gaining momentum against all currencies and we find that now our predicting system have come back on track after almost five weeks so trade as per our newsletter.
In gold we predicted trading range of $959 to $942 and so far gold traded in this range, we predicted that of gold breaks $942 the next target is $924 but upside is limited so keep your short position in gold and silver.
We have also predicted sharp fall in base metals from Wednesday so one can take position on late Tuesday in copper, platinum and zinc.
Grains should trade weak so no new trade recommended.
We are very negative on Cocoa, Sugar can reach up to $24.80, coffee and cotton will remain side ways so no need to take a trade in coffee, cotton and sugar for time being.
Oil will break down very hard so hold short position in oil and other energy area.
Stock markets are giving weak sign and we won't buy signal stock at this stage except USU.
Thanks & God Bless
Mahendra Sharma