Gold, Oil & Indices (Equity & Bond Indices)

everyone should have noticed that gold correlation recently changed for the time being. The triangle break was perfecto trade, well in the money by now.

35.70 done.. next onto 36.40..

ashraf do you recommend to short gold and silver and what which levels in ur view??

SPX, I believe Ashraf is now thinking lower prices for stocks if I understand him correctly. His original call for SPX was I believe 1320 at the 55DMA and at the time I made the point that if price went below the first low it made at 1329 on the 5th May then we would likely see very much lower prices following prior pattern violation.

The next low was at 1318 on the 17th May (my 100% symmetry target). That lower level further violated the previous pattern I had referred to. Now we are in agreement that lower prices than his original forecast are probable.

I was not trying to be clever or in any way hassle Ashraf. Simply put forward my own analysis in the hope that it might benefit someone.

The situation now is that price needs to take out the 1318 low to reach the next target area of 1309.80/1306.90 and this would be just below the 100DMA. Much lower prices could result but best to take one stage at a time. Hope everyone interested is now clear on my motives.

silver trading range 32-39 pivot 35.70, spot 35.10 within immediate range 34.99 to
35.22, next resistance 35.70 and 36.40, support 33.90 and 33.00.