FED tapering is bearish for Precious metals since tht will impact liquidity in mkts..
This is definitely is just a bounce, as I said position adjustments by traders before Friday's NFP.. We hv broken 50% fib lvl in sil.. GOLDhas resistance at 1230/35lvls whereas as same for sil is 19.39/50 lvls..
My tgt for gold is 1170/75 and then by JAN end 1050...for sil am expecting 17.20. Ofcourse in between we will get small bounces like this to test weak hands in mkts..
This is actually a very gud data but these days mkts are showing reverse reaction to inventory data..may be these datas are available to sum traders beforehand and they play the move in advance like we saw in last 2-3sessions..
Sell crude here at 6005 s/l at 6055 for a tgt of 5940...
crude shud test its previous resistance (now support)at 95.60 and hence expect a further 1% down move...also INR is expected to open stronger n shud b bought further..