Posted by Tradelinecapital
Most of the countries, are closed today which will cause a very thin volume in the market Gold Open Interest Decrease by 12,816 from 5,11,320 to 4,98,504. Open interest + Volume + Pricing decrease which indicates Gold wants to move downside on its immediate next day which is Monday. So we prefer to make sell position.Gold has taken a closing @ 1850.20$ in as per the same it will try to touch 1831.80$ on Monday where its previous low was 1830.2$ will make a double bottom. This will makes our range of Gold from upside 1858$ selling begins towards target 1831$.Gold Range: 1830.2$ - 1864$Our Preference: Sell Gold 1858$ for target 1831$ with SL only above 1865$+Alternative Scenario: Buy Gold 1831$ for target 1848$ with SL only below 1826$Trading Zone1858$ Sell start for the day1869$ Last sell for the day1840$ Buy for the momentum 1831$ Buy for the day1826$ Break out sell SL apply of 3.5$ or above trading levelsSilverRange: 22.50$ -21.85$Our Preference: Sell Silver 22.50$ for target 22$ & 21.75$ with SL 22.60$Alternative Scenario: Buy Silver 22.65$+ for target 23.50$
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Bank: IDBI Name: Tradeline A/c: 0130102000030612 IFSC: IBKL0000130 Account type: Current
