Finally posting some progressive gains, GOLD will start its month long expected retraction. Touching a resistance level at 1349.40, expectations for a bearish movement are high. Looking towards the day ahead we should be seeing a number of volatile movements signaling the beginning of the downtrend. Traders are advised to look for strong PUT options ranging from30 minutes to 1 hour.
Also posting monthly record gains, Silver is set to make a long bearish trend in the month ahead. Speculations point to the risk that the commodity still has room to maneuver upwards, yet indications are towards a long term downtrend. Looking towards today we may expect to see a bit more of a bullish push before the selloff begins. Traders are advised to look for both CALL and PUT options up to 1 hour.
Fears of over value begin to plague OIL as it starts what looks to be a day long selling period. Market sentiment is strong towards sell bids at this point as the asset has moved past expected gains and is now looking towards a day of losses. Traders are advised to look for PUT options for 1 hour.