In our morning report, we had suggested a ratio strategy on gold and silver anticipating that silver may underperform gold while we were little cynical about the trend.
As of now, silver is trading down by 0.50% at $19.59 while gold is down by mere 0.06% at $1300 levels. We wish to continue the same stance for this evening especially when we have the pending home sales number from US which is expected to improve from its previous month’s data .The Dallas Fed manufacturing activity is also rising.
Coming to crude oil, we had suggested a sell view while as of now the June future is trading at $101.30 ,up by 0.70% from its previous close. Possibly the rising European markets supported by lower import price index may have supported the shared currency euro is helping oil prices to recover a tad. Also, the USD index is seen trading down at 79.59 levels.
For this evening we believe initially oil prices may remain positive with the likely positive opening of the US markets while in the later hours the black liquid might lose its gain and turn negative. Hence, we intend to remain on the sell side for oil while we also suggest revising the stop loss to higher levels.
Lastly, from the metals front we had a buy view on nickel and copper and we wish to continue the same for this evening, while we had suggested sell in lead and aluminium and believe to continue the same.
www.punjiniveshonline.com
www.punjiniveshonline.com
As of now, silver is trading down by 0.50% at $19.59 while gold is down by mere 0.06% at $1300 levels. We wish to continue the same stance for this evening especially when we have the pending home sales number from US which is expected to improve from its previous month’s data .The Dallas Fed manufacturing activity is also rising.
Coming to crude oil, we had suggested a sell view while as of now the June future is trading at $101.30 ,up by 0.70% from its previous close. Possibly the rising European markets supported by lower import price index may have supported the shared currency euro is helping oil prices to recover a tad. Also, the USD index is seen trading down at 79.59 levels.
For this evening we believe initially oil prices may remain positive with the likely positive opening of the US markets while in the later hours the black liquid might lose its gain and turn negative. Hence, we intend to remain on the sell side for oil while we also suggest revising the stop loss to higher levels.
Lastly, from the metals front we had a buy view on nickel and copper and we wish to continue the same for this evening, while we had suggested sell in lead and aluminium and believe to continue the same.
www.punjiniveshonline.com
www.punjiniveshonline.com
No comments:
Post a Comment