Friday’s trading range of all major markets
Dear Members,
Commodities, USA and European markets traded negative on Thursday. Avoid any big position in commodity markets as Saturn is changing houses and we would like to see behavior patter of commodities once Saturn moves to Libra as per Vedic astrology.
Mid-Wednesday and Thursday we mentioned that “Today (Thursday) is a negative day for the precious and base metals but that Saturn moving from last degree may keep metals in sideways directions, if this does happen then don’t short metals at this stage. Soon we may see gold $1647 and silver $29.30 in short term (7 days).
Yesterday metals traded weaker with movement on both sides, this confirms that still positive time is slightly far away for metals but also that the down side is limited.
METALS
This is what we mentioned in this week’s weekly newsletter:
“This week gold and silver prices will move in a tight range, so we won’t recommend any buying positioning trading in metals. We may see metals prices coming down from late Monday onwards. We will probably see some selling pressure for the whole week.
Planets are giving a weaker indication on Tuesday and Wednesday so any sharp rise should be taken as a selling opportunity.
On Thursday we may see a rising trend in the Asian markets but prices will close lower on Thursday as well and the same trend will continue on Friday.
It is clear that Astro indicators are not giving any positive indications for precious metals during this week so avoid any buying positions in metals and metal stocks.
Compared to gold, silver will trade far better and it will outperform gold. One can sell or short gold but not silver in the coming time and maybe within the next ten days we will come out with very strong buying recommendation for silver.” This above part is taken from 30 July-3 August weekly newsletter.
This is giving a clear signal that silver is ready to perform far better than gold in the coming short term period.
Here is Friday’s range:
GOLD: $1603.20 to $1579.10
SILVER: $27.43 TO $26.75
COPPER: $334.95 TO $326.10
PALLADIUM: $577.00 TO $563.90
PLATINUM: $1399 TO $1380
SOFT COMMODITIES
Avoid trading in soft commodities at this stage or trade in and out. Keep accumulating cotton and coffee on weakness.
Friday’s trading range:
COFFEE: $173.90 TO $170.60
COTTON: $71.10 TO $70.05
COCOA: $2375 TO $2333
SUGAR: $22.28 TO $21.62
ORNAGE JUICE: $111.80 TO $107.60
INDEXES
All major markets have been trading within the predicted range, keep trading in and out for the short period (day trading) as Saturn in last degree won’t be able to give any directions to stocks markets. We have noticed that in the last one year’s short term trading with keeping longer term core in have provided huge returns in trading S&P and major indexes (not in emerging market as we constantly recommended to stay away from emerging market as we saw a weaker trend emerging markets and emerging markets currencies but that cycle is changing now from next week).
Don’t short markets here, in fact today you can buy on any weakness as we won’t be surprised S&P, Nasdaq and Dow move sharply higher after opening of USA market.
Friday trading range (September 2012 contract):
AUSTRALIAN (Cash) – 4275 to 4241
NIKKEI – 8598 TO 8497
NIFTY S&P (Spot) – 5225 TO 5159
SINGAP0RE (cash) – 3035.7 TO 3012.00
HONG KONG (cash) – 19599 to 18355
CAC – 3259 TO 3202
DAX – 6691 TO 6560
FTSE – 5689 TO 5592
S&P – 1371.75 TO 1351.25
NASDAQ – 2537.5 TO 2601
RUSSELL – 775.50 TO 761.75
DOW – 12929 TO 12745
GRAINS
We are not changing any outlook in grains.
This we mentioned in Tuesdays flashnews: Grains will remain extremely volatile on both side, we may see sharp price movement on both sides so trade in and out as per predicted range here below. Buy corn today on weakness as soon it will see the $1000 mark, and hedge position by selling wheat.
This week selling recommendations of wheat have done extremely well as wheat prices have come down more than $70 in the last three trading sessions and corn just fell $20. Down side is limited in grains so don’t short.
Friday’s trading range (September contracts):
CORN: $808.75 TO $782.00
WHEAT: $880.25 TO $852.5
RICE: $15.99 TO $15.75
SOY: $1635.25 TO $1588.75 (November)
SOY MEAL: $515.25 TO $495.00
SOY OIL: 52.45 TO $51.15
ENERGY
Oil and natural gas traded in as per mentioned in the yesterdays flash. This week we constantly recommending selling gas around $3.23, and our short term target were $2.87, yesterday closed sharply lower at $2.91.
Still we recommend selling gas on any rise, trade in and out in oil as daily flash.
In this week newsletter and daily flashnews we are recommended selling thirty years bond for short, medium and longer term. Hold your sell position in the bond.
Friday’s trading range:
OIL: $88.62 to 85.83 September contract
NATURAL GAS: $3.05 to $3.83 Sep contract
TREASURY BOND – 151-27 TO 150-01 (Sep contracts)
CURRENCIES
Yesterday US Dollar gained sharply against major currencies and still outlook is positive but today you should book profit in long dollar. Build trade in Indian Rupee and Real.
This is what we mentioned in this week’s weekly newsletter:
Last week Euro struggled to hold gains. Swiss Franc is very close to par value so watch currencies trend carefully as dollar still looks rock solid. This week we may see US Dollar index crossing 84.00 Mark and Euro may test 1.20 against USD.
We have been saying one thing constantly and that is that why should anyone give importance to Euro as a currency because there is no future for it. You have to think seriously because whenever we came out with a strong longer term recommendations about any markets, they have always proven 100% accurate. Look at a Swiss Franc; last year when it was rising one sided and reached 1.41, the media were calling it a safe haven currency and we warned our members and gave a target of 1.10 or par value against USD, and it actually happened within three months.
Once again we strongly recommended keeping your money in US Dollar. Stay away from Swiss banks as in the future coming time these banks may start collapsing one by one. Take this prediction seriously. Don’t keep any money in the Swiss banking system. It would be better to give that money in charity or pay taxes and bring that money back to your own countries.
The same way, Euro doesn’t have a great future ahead. Germany may takeover Euro or it may leave the Euro zone. This is another prediction you should watch carefully.
Anyways this week dollar and all major currencies will trade in range, but Euro will make another low here so trade carefully.
Today we recommend to book profit in US Dollar and get out from short position in all other currencies. Take new position on Monday after reading our weekly newsletter on Sunday before electronic markets open.
Friday’s trading range (September contract).
DOLLAR INDEX – 83.88 to 83.07
AUSTRALIAN DOLLAR – 1.0452 to 1.0390
CANADIAN DOLLAR – 0.9951 to 0.9883
BRITISH POUND – 1.5575 to 1.5451
EURO – 1.2273 to 1.2104
JAPANESE YEN – 1.2828 to 1.2739
SWISS FRANC – 1.0208 to 1.0106
RUPPEE – 56.09 TO 55.61
RAND – 8.42 to 8.32
Note: Out of 10, 8 times most of our daily trading ranges get fulfilled, so exit the trade once prices reach nearer to our predicted price and wait for the next day for new trades. If we give indications that markets will trade negative then you should be selling nearer to higher of the day and wait for prices to come down. If we are predicting a rise then you should buy at lower predicted range and ready to get out nearer of predicted day high range.
I also highly recommend reading weekly newsletter on daily basis because weekly newsletter provides insight of what is going to happen in the market on weekly, medium and longer term basis.
Unfortunately few astrologers (in my birth country India) are copying our work and forwarding it using their own name, and claiming credit for our predictions. Please be aware of these fraud people or so called “financial astrologers”. We have already submitted a report to copyright and our legal team is preparing legal actions (unfortunately).
Thanks & God Bless,
Mahendra Sharma
Friday 08.10 AM, Mumbai, India