Fundamentals for the Day
2.45 pm FOMC Member Waller Speaks
6.40 pm FOMC Member Jefferson Speaks
8.00 pm Crude Oil Inventories
Market Commentary- Gold is trading now in consolidation zone with down side movement with High volatility of Upside bounce.
- All of the Bounce will be for sell on rise strategy will apply
- Most of things about Tariff are now cooling down only because of which Gold also cool down & turn into a consolidate zone with downside as of now
- No more rally is looking in near term
- US CPI Data has reduce yesterday which indicates downside
- Dollar Index is weaker again which can be the reason for bounce only
Gold
Range: 94245 - 92400
Our Preference: Sell Gold @ 94100 around for target 93000 with SL 94300+ only if sustain
Alternative Scenario: Buy Gold @ 92450 with SL below 92250 If sustain for target 93300
Trading Zone
93800 sell @ 1st stroke with SL 100 point for target 400 point
Silver
Range: 94170 - 97250
Our Preference: Buy Silver @ 94170 with target 96000 SL 300 point
Alternative Scenario: Sell Silver 97200 for target 96000 with SL 97600+ only if sustain
Trading Zone
96500 Sell Silver with SL 200 point SL