THE ULTIMATE SHORT BUT WHERE IS THE DECLINE?
Updated
At the moment of publishing this report gold is trading at around $1230 while white metal is trading at $14.38, from weeks we were informing you that U.S-China trade-war would impact the precious metal prices either in a positive or negative way and as the agreement reached between the two countries to a temporary halt,hence we have witnessed a correction in the precious metal sector,we also informed you that it's a possibility that any ease off in the trade-war would shoot up the gold and silver prices in a significant manner but what happened? Gold and silver made short-term price correction even after the news which was bullish for the P.Ms including U.S-China temporary suspension of fighting which came out today and last week’s surprisingly dovish comments coming from Federal Reserve Chairman Jay Powell. Prices unable to surge in a dramatic manner even after this bullish news are a very bearish development for the precious metal sector, however at the same time Large speculators increased their net bearish positioning in gold during the most recent reporting week for data compiled by the Commodity Trading Commission.
we also witnessed modest gains in crude oil prices on hopes for better world economic growth if the U.S and China stop there trade war, however, most experts are not expecting trade war to be resolved over a long-term however in short-term this temporary halt also drove the Asian and europian stock market higher. The statement from the Russian and Saudi Arabian officials that they want to extend production cuts was also a factor which drove the oil prices higher today.
Technicals-Our two position are in gold and silver and silver position is already running in profit, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strength-
overall it seems that position in gold -0.73% -0.07% -0.37% 0.17% 0.69% and silver -0.14% -0.14% -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started.
existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
we also witnessed modest gains in crude oil prices on hopes for better world economic growth if the U.S and China stop there trade war, however, most experts are not expecting trade war to be resolved over a long-term however in short-term this temporary halt also drove the Asian and europian stock market higher. The statement from the Russian and Saudi Arabian officials that they want to extend production cuts was also a factor which drove the oil prices higher today.
Technicals-Our two position are in gold and silver and silver position is already running in profit, however, we believe buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180. Gold -0.73% -0.07% -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strength-
overall it seems that position in gold -0.73% -0.07% -0.37% 0.17% 0.69% and silver -0.14% -0.14% -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started.
existing positions
Currency Pair: XAUUSD -0.61% ( Gold -0.74% )
Sell Stop Entry Price:1220
Take Profit: 1180
Stop Loss:1240
Capital Risk:2000USD(amount may vary depending on your account size and risk tolerance)
Potential Reward: 4000USD
Risk/Reward: 1:2
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Should you require any more information don't hesitate to contact us.
Many regards,
Short term Trades
Currency Pair: XAG -0.83% .USD( silver -0.21% )
Sell Entry Price: 14.500
Take Profit: 14.000
Stop Loss: 15.00
Capital Risk: 2000USD-(amount may vary depending on your account size and risk tolerance)
Potential Reward: 2000USD
Risk/Reward: 1:1
(we can adjust (limit, close or even reverse) the position before this price level is reached)
Note
update for subscribers-we are moving our last stop loss modification in gold@1253-The most frustrating trade happens when your call proves to be right but due to some minor points trade close in loss-we don't want this to happen-however we are not going to modify stop loss points further as the major resistance sits at $1250
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