Crude has completed almost 61.8%
retracement and may found support at 63 USD levels. A bounce back from here
looks imminent and may take crude up to 72 -
73 levels before it starts
another down move. Crude may eventually fall to 52 levels.
Gold and silver are both looking
good after breaking out from the short term downtrend. As I mentioned in my
previous blog if Gold closes above 1220 and silver closes above 19 USD we may
see a long term reversal in precious metals.
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