US Bank Holiday
Range: 50100 - 50800
Our Preference: Buy Gold 50100 + for target 50700 with SL only below 49900
As gold has try to cross 1723$ in future which indicates will touch 1738$ & 1754$ in this week.
As per the same MCX Gold will try to touch 50700 & 51250 as it sustain above 50100+, so now fresh Buy 50230+ will carry position till Tomorrow night.
Comex Silver has taken its bottom level @ 17.26$ where in new contract it touch 17.40$
As we can see this level is taken out from High 30.35$ Vs Low 11.65$ which derive 70% of this correction @ 17.26$.
So now Silver will move towards 2$ around.
Same is applicable to MCX Silver get into Buy side for target 54500 for its 1st target.
Range: 52300 - 54500
Our Preference: Buy Silver 52500+ for target 54550 with SL 52000
probably after 5 pm we will suggest to go with the Buy position both in Gold & Silver.