NeerajPandey
Short

Big decline is coming on your way,you are ignoring it again!!

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
At the moment of writing this update our full 250% net short positions in gold , silver and mining stocks are well justified from the risk and reward perspective.

We didn't witness any low in the USD Index yesterday, yet we saw another weekly low with closing prices. The PMs responded by moving higher, yet the move was not extreme. In addition, the two metals moved lower in the present pre-showcase exchanging. What would we be able to gather from this blend of elements? A considerable amount.

USD's Bullish Reversal

we wrote the following in our yesterday update(not here)

Notwithstanding the intraday decrease to 94.34, the USD Index switched and finished the session relatively unaltered, at 94.64. Right now of composing these words, the USD Index is exchanging at 94.80. The inversion was probably going to occur in light of the triangle vertex inversion in the EUR/USD currency pair, as we wrote yesterday.
.Given the circumstance on the long term USD Index chart that we highlighted yesterday and the analogies to the past enormous, medium-term up-swings, the USD Index is probably going to continue its upward pattern shortly.

This influences the standpoint for the the precious metals market very bearish .

As we wrote in the first sentence of this Alert, there was no new intraday low, so the ramifications of the reversal remains in place– the USDX is probably going to move higher, tuned in to its long term self-comparative examples that we talked about beforehand.

Metals' and Miners' Reaction

Gold moved somewhat higher yesterday, while silver's and the mining stocks' rise was not noticeable.
As it were, we see a continuation of silver's underperformance in respect to gold , and in the meantime we have a circumstance in which the USD Index is still liable to move higher. This is an exceptionally bearish combinations for the PMs. Normally, there are various different reasons because of which gold , silver , and mining stocks are probably going to move lower.
Rundown

overall, it appears that the decreases in the USD Index finished with Tuesday's inversion and that the medium-term uptrend would now be able to be continued. The suggestions are extremely bearish for the valuable metals area, particularly that they have just demonstrated shortcoming despite the fact that the USDX has just turned around – not energized. Mining stocks and silver showed shortcoming. It creates the impression that another enormous slide is likely simply ahead. In view of what we can deduce from the 2013 decline, the time we should give careful consideration to the PMs as their decrease is likely not near being over since no important help has been come to on account of gold and mining stocks.

The conclusion-our outlook for Gold -0.58% -0.86% -0.46% 0.05% , Silver -0.07% -1.14% 0.07% -0.53% and mining stocks is very bearish for the medium and long-term, and it seems gold -0.58% -0.86% -0.46% 0.05% is likely to plunge more within next 2.5 weeks and it seems $1130 target is very much likely to reach but it may even drop to $1060.We may touch a local bottom later this month, though and we’ll keep you informed regarding the possibility of seeing a bigger turnaround.

we will keep you informed anyway

many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD

Sell Limit Price: 14.900

Take Profit: 12.80

Stop Loss: 15.560

ASSET-GOLD

Sell limit Price: 1185

Take Profit: 1080

Stop Loss: 1231
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver -0.07% -1.14% 0.07% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).

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