Late Morning Trading Strategies India August 16, 2012

Commodities are in for a churn again after the brief run up in Oil as we promised, with China reporting dismal FDI and the world going bull on GOLD following the predilection for the metal in India. GOLD is a Strong buy but not in trading terms , but in positional terms, Silbver might yaw even at $27 or INR53.5k likely down than up, but gold carrying and Oil is tired internationally at $94/$115 and will be down from INR5300 to even 5150

The Rupee is quite done too on the downswing, unlikely that the Dollar will hit the high notes beyond 56.5 in August but that spot will cross 56 sooner than later first and 56.3 probably before turning back as August starts unwinding next week into spot rush in terms of price targets

Comments are closed.

Up ↑

%d bloggers like this: