Dear Members,
On Thursday grains had the best day in a long time, especially corn and soy which moved aggressively higher. Coffee and sugar also gained value, staying long is recommended in both softs. On Thursday we recommended buying coffee and sugar aggressively which have done well as Coffee moved 3% higher.
The Agricultural commodities era is coming so remain aware because we will be completely focused on agri-commodities in 2021. Corn moved higher by 5% in the last two trading sessions and soy moved almost 4% higher.
Precious metals rebounded strongly as predicted on Thursday. From Wednesday’s lower range silver gained more than 15% higher and gold almost gained 5% value. Five weeks back our buying recommendation in gold at $1798 and silver $17.00 provided amazing returns in gold, silver and mining stocks. Most important higher side target in gold $2075 and silver $30.00 got achieved for short term. Still some fire work cane back after this week our lower side target of $23.61 and $1878 got achieved and started moving higher from Wednesday as predicted.
This is what we stated for Wednesday: Important astro support level: For gold $1878 and silver $23.61 and platinum $900. Futures are very risky trades, we recommend taking some call options in silver, take some aggressive call as we won’t be surprised at all if silver goes back to $30.00 in the by this month end. Silver will outperform gold and platinum. At the time we are writing this level, gold is trading around $1892 and silver $23.71.
On Wednesday we are recommending aggressive buying in gold, silver and platinum, if someone likes to take risk then must buy call options in silver and gold as still a lot of fire work is pending. Avoid mining stocks.
Avoid palladium, copper, zinc, and nickel short these metals around at $293, and 2388 levels. In copper came down from higher side level of our short recommendations.
Energy prices remained in the mixed trading pattern as predicted but watch gas prices closely as it is trading at $2.18 level. Oil has been trading above $40.11 level as predicted and now $43.65 is the most crucial level to watch and may achieve our predicted higher side level soon.
Soft commodities traded higher, coffee and sugar rebounded strongly. We are recommending staying long in coffee and sugar.
Thirty Year bond lost value sharply as predicted, our recommendations of selling at 183-00 with a target of 177-00 almost got fulfilled yesterday.
Currencies traded on both sides, watch the dollar Index closely as it has been holding our predicted lower side level.
Globally the markets acted mixed but still held value. Tech stocks are moving higher, biotech is struggling and covid-19 stocks are suffering badly. Let's talk about Friday's daily trend and strategy in every area in individual sections. Our buying recommendations in USA market on March 23, 2020 done well, S&P came up almost 1180 higher from, Nasdaq move higher from 6600 to 11230 which mind boggling. In the last three decade we have witnessed Investors always miss greatest buying opportunity like 2009 March and March 2020, these both March provided windfall to investors. Surely in the short term we can witness some profit booking but S&P 3800 is on the card so be aware, don’t naked short market, surely on can take some hedging positions. Watch S&P higher side astro resistance level of 3393 and astro support 3273 Nifty higher side astro resistance level 11393 and important astro support is at 11291, below this level is short term negative but still markets can rebound so remain short term trader. Next week weekly newsletter will most interesting for investors because metals, markets, softs, grains, bond and currencies may adopt aggressive trend.
I am not recommending shorting our favorite stocks like REGN, VRTX, ALNY, DXCM, LVGO, NFLX, AMZN and MSFT are performing amazingly well since last one year. When I was writing this year’s book “2020 Financial Prophecies”, and now we are in July 2020 which is in the positive cycle for markets and metals.
From next week we see a very interesting time starting for the markets so watch closely.
Thanks & God Bless
Mahendra Sharma