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Today's Trade & News

Metals moved higher as predicted but failed to hold higher side value which is bit concern sign but...

Dear Members,

There is too much volatility in metals and they are not able to hold higher side levels. Today positive astro day which pushed Gold and silver went sharply higher Gold test $1986 and silver $28.07 level as predicted but lost value quickly from higher side level. Metals gave away all gains in fact they came in the red trend which confirms that short term trend in precious metals to remain uncertain so don’t add more long positions. One can reduce long in future positions and just play with call options but at this stage I am not recommending that even. 

Simple advice – Close long and stay sideline in precious and take some short positions in base metals. Precious metals fail to perform well on positive astro days in the last two weeks so stay sideline for the short term until further alert. Still Silver looks far better so take long in call options in silver for the short term but better to remain sideline in future trading.

Globally markets also looks bit uncertain and most of currencies looks weak so take trade accordingly. Reduce exposure in market but don’t short.

Thanks & God Bless

Mahendra Sharma