Dear Friends,
Here is last week Friday’s update. Prices in commodities are added.
Dear Members,
Yes first time commodities gave some weak sign on yesterday as predicted, metals, oil and grain will remain weak until mid Tuesday of next week. I don’t recommend any buying on weakness until Tuesday or buy once gold touches $1331, silver $25.11 and copper $362.
Our predicted target on lower-side for gold, silver, copper, and other base metals can be fulfilled before Fridays close or on weakness on Monday.
Oil came down sharply, we are still very much sure on fall oil on Friday, and it can touch $84 (December contracts). We still see oil touching $81.30. Natural gas will be good buy on Friday buy around $ $3.86.
Grains traded weak as predicted in newsletter, weak trend in grains will get over by next week Monday so avoid any buying today.
Yesterday sugar went down 9%, cotton came down from $157 to $141 and still more weakness is pending, coffee also fell sharply, all soft commodities are trading as predicted. One can buy coffee on weakness or around $193, we see sharp rise from next week. Avoid, cotton, sugar and cocoa.
Our longer term outlook on all major stock markets is very positive but shorter term outlook looks very negative. Since last two weeks we have been warning and have been recommending to book partial profit, except uranium stocks.
Dollar has been trading very positive since last six days, now time has come to take selling position in Australian dollar, Canadian dollar, and Pound. Side currencies like, Rupee, Peso, Rand and Real will move down sharply. Next target for USD is 79.50.
I am sure many must have enjoyed our first Uranium newsletter, I am very much excited about this area of investment.
Thanks & God Bless
Mahendra Sharma, Friday morning Singapore 8.00 am