Fundamentals for the Day
11.30 pm Fed Chair Powell Testifies
02.00 am FOMC Member Bowman & William Speaks
- Trump Impose 25% of Tariff on Steel & Aluminum imports
- US Steel & Aluminum Tariffs will have no Exclusions
- Trump to hold meetings on Cars, Drugs & Chips over next 4 weeks
- Trump suggest possibility of increasing Tariff on Metals
- Trump to exempt consider Australia
Gold
Range: 86300 - 83090
- Gold Upper side very strong breakout only above 87400+
- Gold has a new range from 86300 to 80672
- This means Sell Gold from 86000 with back up sell for target 86800
Our Preference: Sell Gold 86000+ target 84700 & 83100 with SL 86400+ only if sustain
( Keep the back up sell in pocket as we update with stop loss)
Alternative Scenario: Buy Gold 83100 with SL 82900 for target 84000
Trading Zone
84700 Buy with SL 150 point for target 450 point
Silver
Range: 93000 - 96000
Our Preference: Sell Silver 96000 target 93000 with SL 96500+ only if sustain
Alternative Scenario: Buy Silver 93000 with SL 92600 for target 94200
- Silver has clear its upside till 33.30$ future comex & 96000 around from where it will try to touch 90,000 & 87000 of price