Another Leg Up in Silver is Coming with The Target of $23, Buying Can be initiated around $16.5, Dollar is Showing a big selloff in monthly charts which will fuel this rally, Technically it has retraced back .61 from initial rally, and it looks like a fair level to reenter.
There is a probability of sudden 2000 points selloff in US30, Volume on Sell Days is Higher, SPX and Nasdaq have my GoTo sell patterns, US30 is Making Fish Top on 4 Hour Chart, Vix is Ticking Up Slowly. Crude is Fueling the rally but it looks like crude will also start to pull back.
There is a possibility of sudden 700 points sell off in nifty, i can see some short patterns in nifty and bank nifty charts, there is also heavy PUT buying going on, VIX is ticking up, global markets are also suggesting a sell off, and INR is also not getting strong..
Their is a very good sell opportunity in nifty currently, this wave can take nifty all the way down to 7500 in near term. bank nifty will add most pressure, INR will get weaker which will act as a catalyst.
1. SPX 500 is making new highs as expected earlier, but this is not sustainable, if Central Banks will not give a rate cut or further QE then markets will undo all the gains.
2. My Sell patterns have started to show up in the charts.
3. SPX is making third mountain in weekly charts.
4. Crude is looking to go ...
Gold may Lose All The Gains as it is making reversal patterns already in Daily and Weekly Charts, Also Us Dollar is looking to gain little strength in Technical Charts and if market rally continues, then investors will enter in stocks and free up their capital from Gold which will make further pressure on it.
Crude Oil can rally towards 39.5, with buying around 32.5, Weaker inventories are not effecting it like before, its making higher lows and higher closes on weekly charts and 35 is crucial level for its positive trend.
We will see New All Time Highs in Global Markets Very Soon, (FTSE, Nifty are strongest indexes currently)
Top 4 Reasons...
1. 60$ oil by June
2. Q E by Major Central Banks
3. Delay in Further Rate Hikes
4. Accumulation on Dips