- Its Expiry week for Gold.
Yesterday, Gold morning begins with Open 59310 & High 59310 from where Gold started Sell @ 2 pm to 4.30 pm one way downside from 59067 to 58575.
- Previous Low on 22nd March was 58462 while yesterday Low was 58405.
- 58750 is quiet Good support has been breach by Gold, under European Session.
- It has given Yesterday Closing below 58750 as well today morning opening below 58750 so now it will go down till 58181 & 57613 which indicates Gold has open the gate of 57613 which is again 50% price of 54771 Low & High of 60455.
- Gold may get down to 57613 from today's High whatever it takes in next 3 days.
- Gold will take a support near 58181
Fundamentals for the Day.
6.30 PM HPI m/m
7.30 PM CB Consumer Confidence
FOMC Member Barr Speaks
Gold
Range: 59050 - 58181
Session Call: Gold sell initiate from 58770 with SL 58900 target 58500
Our Preference: Sell Gold 59180 target 58750 & 58450 with SL 59350 + only if sustain
Alternative Scenario: Buy Gold 58181+ target 58750 with SL 58050 below only if sustain
Noon Session :
58450 Buy SL 58350 target 58650
Gold has open the Gate of 57613 from 58750, but on the other side volume is too low.
Silver
Range: 70500 - 68350
Our Preference: Buy Silver 69625 + for target 70350 with SL 69400
Alternative Scenario: Sell Silver 70475 for target 69650 with SL 70780