Stay Away for a While. If not prefer shot side with strict stoploss
My advice is to stay away from this market for the time being.
Nothing much to say, as i had said everything in Analysing Gold. same will be true for Silver
With Positive Divergences and Buying by Commercials (Last weeks data, this weeks awaited), I am Expecting the Current Price Area to Hold and Arrest The Downtrend. If that happens, I had Given The Upward Projection Target. But if the current zone does not hold and give up, i have given the further Support Areas (H&S targets). But that will invalidate the upward...
I am expecting one more push down below this weeks LOW. Lets watch VIX and NIFTY
Needs some more backing and filling by NIFTY. Just be Patient.
Let Nifty do some Basing Work, before jumping to the BUY side. In any case that is highly unlikely to happen before Thursdays Options Expiry. So Have Patience.
Look for Buy Setups in Silver around these two levels Marked in RED
I Think next 1-2 Weeks Can Provide Very Good Buying Opportunities
Get Ready for the Downside Move. At Least till PINK Area, by Tommorow
If the Pink Area Holds & Stops the Down Move, NG may present some VERY GOOD BUYING Opportunity Here.
Caution with NIfty's Extended Move. I am putting up an very Likely alternate scenario.
Crude Broke Uptrending Line. I will start Looking For 36 Region, ONCE it gets below and STARTS CLOSING below 44 Level. Keep watching
GET YOUR STOPS EXTREMELY TIGHT... Its about trailing stops (in accordance with your risk tolerance) on your short position to lock in profits (Someone Misunderstood i feel? ) THIS IS NOT ABOUT CREATING FRESH LONG POSITIONS!!!
Looking for Short Setup. BUT only on Further Price Confirmation