Below is a verbatim transcript of the interview:
Q: Give us a word on gold and silver and how you are trading that?
A: Gold, after having tested USD 1,322 per ounce mark, saw a smart recovery back to close to USD 1,420 per ounce mark within a week's time. USD 1,420 per ounce being a very good resistance, we need to witness whether it would be sustainable to rally further to USD 1,447 per ounce mark.
Once it breaks USD 1,420 per ounce we expect it to again retest the support levels of USD 1,395 per ounce mark.
In fact, a bit of exchange traded fund (ETF) appetite took a smart recovery and also the hedge funds led a long bet on it, although the SPDR holding still continue to be on the downside to close to 1 percent to 0.88 percent mark.
So, probably on an intraday perspective, we would prefer to sell gold June contract somewhere in the range of Rs 26,500 per 10gm levels. Expecting levels of Rs 26,180 per 10gm with a stop loss of Rs 26,640 per 10gm we would prefer to go short on gold.
Q: Crude managed to get back to three digits last night. Is there strength in that pullback as well or an opportunity to short?
A: Crude is getting a support only on account of natural gas prices . The producers are shifting that base towards crude oil. That is a bit of a support that has been given and it is likely to sustain at these levels.
However, crude is likely to break down those USD 89 per barrel mark. In the MCX counter May contract if one were to sell in the range of close to Rs 4,870 per barrel, we expect levels of Rs 4,805 per barrel to Rs 4,760 per barrel.
There are a lot of negative indicators from US as regards manufacturing leading indicators or even the jobless numbers including China trying to be threateningly below 8 percent growth mark. So, we expect crude levels to be on a lower note. With a stop loss of Rs 4,915 per barrel, we recommend selling in NYMEX crude.
Anda sedang membaca artikel tentang
Ventura Commodities suggests selling gold, crude now
Dengan url
https://rokokkanker.blogspot.com/2013/04/ventura-commodities-suggests-selling.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Ventura Commodities suggests selling gold, crude now
namun jangan lupa untuk meletakkan link
Ventura Commodities suggests selling gold, crude now
sebagai sumbernya
0 komentar:
Posting Komentar