Crude Oil has broken a critical support zone and now the last support is of 39-38 once it breaks the range of 38-39 $ for three calendar days then we should expect a straight fall in crude towards 21 $ /BBL and yes if our prediction does go right our astro cycles are indicating that to be reached on 25th Nov 2015 so extreme caution is advised in crude oil derivative products. Astro cycles are bad for energy products / energy producing companies and lot of them could get into serious trouble if they have not hedged their production capacities. Our advice is not for trading but specifically for those people who are in the business of crude oil derivatives, avoid any long term contracts for now and wait on sidelines I will indicate when to do long term contracts. Reliance our final target is 650 Rs and we do not recommend buying Reliance Industries or Cairn as of now. At appropriate time I will update what to do for now just stay away from energy companies
Gold as we said is also headed lower in INR terms we could well see Gold breaking 24000 and even may touch 22000 during intraday panic bottom formation. Our view is that Gold will be making a important primary cycle bottom before 15th Dec 2015 and then after 15th Dec 2015 we do not see any significant fall in INR terms. Internationally we could see Gold make a panic bottom between 920-974 $ hence those who are looking to buy the yellow metal should wait for a few more days. Once a bottom of 2200-24000 is done Gold will then head towards 38000 INR. Those who want to buy Gold should do so between 24-22 K as we do not see significant downside below 22000.
Good Trading To You!