Gold and Crude Oil Forecast 22 December 2010
There was no news at any end so the US Dollar and the Gold swing in range bond. My forecast to sell @$1392 proved to be bulls eye. And many of my subscriber sell. The low was @$1380.5 which was at par. Still holidays are near and trading volume is becoming thin. Today also there is not any news which can fluctuate Gold except for the fact that investors and traders are cutting their long positions before new year. So if sell off occurs the gold had to breached $1380 so we can expect prices between $1350 – $1360 which would be the buying price so that we can start new year with a big bang.
Crude oil also followed Gold and there was not any major price swing. Our selling occur @$90 and the lowest the crude went was $89. Today my selling price would be $90.5 with stop loss of $91 and buying occurs @$89.
Syed Arif
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