Dear Members,
Last week’s suicide bomber attack in Afghanistan was a very heartbreaking event; let’s pray for those who lost their lives, and the family and friends who lost their loved one. Today Hurricane Ida hit Louisiana with category 4, experts expect more than $40 billion damages. We also pray for everyone who are in the path of Ida and the affected areas.
Last week markets performed amazingly well. Metals bounced back along with energy. Grains acted mixed but softs like cotton and coffee acted well. Among all the commodities, Natural Gas outperformed most of the commodities.
Gold rebounded from $1677 to $1820 in the last two weeks, silver is still struggling though it also rebounded from $22.30 to $24.00. I don’t want to repeat again but surely silver will hit $75.00 in the three years’ time. For the short term outlook, you need to check our daily flash or weekly newsletter. I am still ready to accept the challenge because I trust the astro cycle theory as so far it has never disappointed us in the last 35 years in predicting the market trend.
Precious metals may take another one weeks to settle before a new trend develops so read our daily report carefully.
On the other hand, Oil rebounded $62.11 level as predicted. On the higher side once again selling pressure will come in oil so time to book profit. Two months back we predicted $4.48 target in Natural gas when it was $2.45, now it may achieve this target anytime, we need to watch $4.48 level closely, this is the level for profit booking but still we are not recommending any short.
S&P achieved 4488 level and closed above this level. Our target for this year got achieved, but on the higher side 4808 level will be crucial. A more powerful bullish trend is still pending in the market, still investors need to see the historic bull market which never happened in the Wall Street. Surely 1998-1999 tech bubble was the most unique and we predicted it, but still a trend that is bigger than that trend is about to be born so do not listen to people who are recommending selling or short market.
Stay tuned for another update if you can’t afford to subscribe to the weekly and daily newsletter but I don’t believe that anyone trading in the market will be unable to spend $18.00 a day.
Thanks & God Bless
Mahendra Sharma