Bullion Report of the Day 7th Feb 2023

Posted by Tradelinecapital
07 Feb 2023 07:57:03 AM

Fundamental For the Day

09.00 AM Australia Cash Rate Hike Decision

07.00 PM Trade Balance

10.30 PM Fed Chair Powell Speaks

12.30 AM FOMC Member Barr Speaks

01.30 AM Consumer Credit M/M

Yesterday

Open Interest Has reduce drastically which indicates downside in Gold
US Dollar gain strength which impact on INR which was weaker yesterday by almost 0.90 Paisa & take MCX Gold upside by 450 Rs where COMEX was not moving much more.
COMEX Gold down by 100$ so it will take a little upside till 1904$ then move back downside again for 1868$ & 1832$.
yesterday We have given gold Sell 57240 where it made a high of 57195 & move down till 56920 & steady near that price.

Gold

Range: 57250 - 56620

Our Preference: Sell Gold 57250 for target 56620 with SL 57380+

Alternative Scenario: Buy Gold 56620+ for target 57000 with SL 56500 below only.

Technical Scenario: As of Now if Gold 57250 do not break then will try to touch 56620 & below 56500 will touch 55900.

Breakout above 57400+ will touch 57695 which is a 50% average price of 56544 Low & 58847 High

So again 57695 is your strongest sell point

Silver

Range: 69000 - 66500

Yesterday, We have given Silver sell 68250 where Silver made a high of 68185 & made a low 67300 get slow moving near by till closing.

Our Preference: Sell Silver 68250 target 66500 with SL 68550+

Alternative Scenario: Buy Silver 66500 for target 68380 with SL 66150 below only if sustain

Breakout: If it sustain below 66100 with closing & 2nd day opening will open the Gate of 62322.

Why 62250 as its 50% price of 51875 Low & High 72769.

There is a Huge disparity between Gold & Silver... As per that Gold sell Silver Buy scenario is happening but still we prefer for that entry also

Have A good Day & have a Control in Trading, do not loose more than 10% of your capital maximum in a day or make a habit for that, also max 3 time consistently happen then stop trading & go back to your mentor & think what goes wrong.

Thank you

Pricing

Daily Bullion Report

Quarterly 25000/-
Half Yearly 44000/-
Yearly 81000/-

Weekly Bullion Report

Quarterly 51000/-
Half Yearly 81000/-
Yearly 150000/-

Daily Forex Report

Quarterly 251$
Half Yearly 444$
Yearly 851$

Weekly Forex Report

Quarterly 300$
Half Yearly 551$
Yearly 1001$

Daily Crude Report

Quarterly 200$
Half Yearly 333$
Yearly 600$

Weekly Crude Report

Quarterly 251$
Half Yearly 444$
Yearly 851$

Weekly Crypto Report

Quarterly 200$
Half Yearly 333$
Yearly 600$

Bullion Report of the Day 7th Feb 2023

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