- Japan Bank Holiday
- London Bank Holiday
- 2 Days left for Fed Interest rate Hike
- Bullion remain downside only for today & tomorrow.
- Trend: Downside remain continue
- From the Dip of 48500 Gold may bounce back till 49800 again.
7.30 PM NAHB Housing Market Index
Range:49550 - 48550
Our Preference: Sell Gold 49500 for target 48750 with SL 49650+ only If sustain
49290 Sell start for the day
- COMEX Gold has cross 1670$ for the once where open up the gate of 1622$ & 1569$, But it bounce back from 1660$ to wards 1690$. Now the bigger resistance is @ 1700$.
- Conclusion : Sell Gold 1689$ for target 1630$ with SL 1701$
- Risk Reward Ratio = 1 : 6
- MCX Gold has short time bottom @ 48500. Which indicates to Buy Gold 48500 for a 1 time bounce of 49800 around with the risk of 48200 below only.
Positional Buyer will wait for their Buy Position from 48500 around for target 49800 approximately.
This target & entry point changes will update on 21st Sept night if it required.
Gold move down side for 2 more days.
Range: 57150 - 55200
Our Preference: Sell Silver 57150 for target 55450 with SL 57550
Alternative Scenario : Buy Silver 55300+ for target 56800 with SL 54950