Dear Members,
Wednesday precious metals recovered which is great news. On Wednesdays rise in precious metals gave me double confident that bull is on the way. Monday, we mentioned platinum to start performing well, and that happened, gold acted well as well on Tuesday which confirming that gold is ready to move higher. Silver still struggling to move further higher but I will wait patiently for the few more days.
Small part from today flash news:
Wednesday gold, platinum and silver closed higher which is great news because it was mix day and closing positive on mix day shows that positivity is overruling negativity.
On Thursday we see precious metals gaining momentum, it is still mix astro day and closing in green will give great sign for precious metals investors watch closing today.
Base metals acted mix on Wednesday and Thursday they will act mix so stay side in base metals.
My focus will be on precious metals, buy around lower side as higher side is lot, they must close at higher sides which will confirm precious metals killing negative trend or overing ruling negativity and ready for bullish journey. On Tuesday note we mentioned platinum looks very positive as it refused to move down along with other metals which is great sign and on Tuesday and Wednesday it gained handsome value.
Time to buy mining stocks and mining etfs, but I will wait for the more few days to get 100% confirmations.
This is what we stated yesterday: If precious metals closes higher from Wednesday to Friday that will be great news as they will win fight against bearish trend cycle.
Silver most important astro support level will be $24.01, Gold $1743 and platinum $943. Copper astro support will be at $421 and Palladium’s $2525. All these metals must not close below these level for the more than three to five days.
Base metals are struggling, and they will struggle so stay sideline or just follow our daily trading ranges closely.
I would like to see closing and may sent you one more update tomorrow. Yes, I am still holding my target of $75.00 dollar in silver, and positive trend in gold and platinum from here.
Markets will act positive so stay long in market. Higher side selling is recommended in energy market. Grains will act mix, but watch corn and wheat as they will act positive from late today.
Coffee have been acting positive, still have potential to test $190 this week.
Dollar acted negative on Wednesday as predicted, weakness in USD to continue so take sell position in USD, and buy in most of currencies including emerging market currencies.
Bond shall be in your selling list.
Thanks & God Bless
Mahendra Sharma