Posted by Tradelinecapital
Yesterday,Gold made Low 56478 High 56999, Where we mention sell Gold 56840 for target 56200 which is still continue, Gold made a very good jobbing more than 3 time from 56500 to 56900 with zigzag pattern but we recommend only for sell in live calls. Today also we mention to go with sell only as below 1868$ Gold is moving towards 1832$ now.US Consumer Inflation data release which increase from -0.1% to +0.5% which is not good, at the same time Y/Y Inflation Expectation 6.2% VS 6.4% actual which is not good. Impact: -Negative (downside) on Gold specifically rather than Silver too.Open interest has reduce consistently on day to day basis from 5,07,000 to 4,27,000 Impact: It is also continue negative Impact on Gold which will pressure on it. Fundamentals for the Day12.30 pm GBP CPI Y/Y7.00 pm Core retails Sales Empire State Mfg IndexRetails Sales m/m7.45 pm Capacity Utilization Rate Industrial Production m/m9.00 PM Crude Oil Inventories Gold Range: 56840 - 55885Our Preference: Sell Gold 56840 for target 56200 & 55885 with SL 57000+ only if sustainAlternative Scenario: Buy Gold 56195 for target 56550 with SL 56080Below 56080 will move towards 55885 if there is a high volume only in that case.Silver Range: 66500 - 64411Our Preference: Sell Silver 66200 for target 64411 with SL 66600+only is sustainBecause very low volume in Silver for jobbing or day booking purpose 65411 is a booking point for multiple trade
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