Fundamental for the day
7.30 PM CB Consumer Confidence (IMP)
Jolts Job Openings
8.30 PM FOMC Member William Speaks
Its NON Farm Employment Week.
- Movement will be in a large zone with a ZIGZAG pattern
- Not any one sided view.
- Gold has a bottom of 50578 for the week.
- So weekly trader Buy with this week for upper side target 51400 around.
Silver got expiry
- Bottom of Silver is 18$ only in COMEX where we have to follow it in MCX as per the same in new contract.
- As per COMEX SILVER got a bottom of 53800 for the week with a USDINR price @ 79.55 at the time of writing this report, so follow as per that.
- Silver will take a dip every time & bounce back also so weekly trader should start buy around 54500 with split their lot size in 3 different entry.
Gold
Range: 50600 - 51450
Our Preference: Buy GOLD 50650+ for target 51150 & 51400 with SL 50520 below only
Alternative Scenario: Sell Gold 51400 with SL 51590 for target 51100
Trading Zone
50800 Buy for session with SL 70 point target 190 point
Silver
Range: 54000 - 56000
Our Preference: Buy Silver 54200+ for target 55500 with SL 53800 below only
Trading Zone
55500 @ Sell @ 1st stroke
56100 Last sell for the day
Maintain SL of 200 point for reverse target 400 point