Equity Market Pundit

Past week we so a huge rally in the commodity space. Platinnium led all of them. Looking at all of this I belive the rally in Gold and silver will still continue in the next week too. The data comming from US is quite dissappointing as we all know. This week quite a crucial set of number are awaited esp the Housing numbers. If the bad numbers continue we could well see Euro/Dollar ratio passing 1.5000.This all encourages my view and we could all see a new high being made in the coming week

Now if we are talking about Gold the immediate target looks to be around $968-$972. This is the first targret that we could come across this week at the same time this will pose a serious resistance. The next target if it corsses the $976-980 wil be $1005 while the ultimate for the current wave be around $1026. So if some one wants to go short , if someone sees the $970 mark for the first time he can go short on an intraday basis. And I think if U short around this level you should be in the money in hours.

Silver as in the past will outperform Gold when it enters the fifth wave. The target on silver on the upper side would be around $18.50 and $18.80. Technically we could see some correction in silver,but there is always a chace that gold will pull silver with it. At the same time we should always remember Silver can burn your hands worst than the gasoline.

All the comments are most welcomed. I have mentioned my personal view on the commodity sector