One of March’s best performers, GOLD has come to a pivot point this week. After several brushes against support level 1350.950, sentiment is still highly bearish and showing a further indication to push the price down. Expectations for today look towards a longer downtrend heading to support 1343.295 before gaining a correction. Traders are advised to look for PUT options from 30 minutes to one hour.
One commodity that has so far this month failed to preform, SILVER is seen to have a lack of volatility. What this does show for the future however, is that major interest will return to the asset and that present movements must be accommodated with shorter trades. Expectations for today are to keep with current pattern movements. Traders are advised to look for options varying in direction for up to 30 minutes.
Falling behind other in the race for correction, the OIL is still facing further loss in price action as trading continues today. After failing to break expected resistance level 99.36, the pair still maintains a bearish sentiment towards further selling. The next support level of 97.30 will be the final point of the previous uptrends retraction and will generate a bullish market, possibly stronger than the previous. Traders are advised to look for strong PUT options for up to 30 minutes.