Fundamentals for the Day
6.00 PM Unemployment Claims
Philly Fed Manufacturing Index
7.30 PM CB Leading Index m/m
8.00 PM Natural Gas Storage
- Gold Open Interest 4,35,334 with volume 1,35,545 where volume is quiet Low.
- This indicates still there is no further Syndicate Buy or sell is there in the market apart from smaller group who plays 1 day picnic Buy or Sell.
Gold
Range: 58859 - 58308
Trend: Negative
Strategy: Sell on Rise only
Our Preference: By Gold 58308+ target 58790 with SL 58190 below only if sustain
Alternative Scenario: Sell Gold 58840 for target 58360 with SL 58990 + only if sustain
- Gold will play in the range of 58300 to 58850
- Break out Sell will apply below 58200 which will open the gate of 57650
- As volume is quiet low as of now in CME Gold.
Silver
Range: 70500 - 68888
Our Preference: Sell Silver 70300 add on 70500 for target 68888 below 68688 target extended 67600 with SL 70650+ only if sustain
Trading Zone
Buy 68888 with SL 68688 target 69500