Posted by Tradelinecapital
Fundamentals for the DayIt's Speech Day6.30 pm FOMC Member Waller & Barkin Speaks6.35 pm FOMC member William Speaks6.40 pm FOMC Member Bostic SpeaksWhy Bullion is moving 1 way upside ? US Levies tariff on China heavily, post that Now CHINA retaliate & launches its own anti-dumping probe following Biden's monster tariffs. This is not a normal scenario.On 1st August 2019 Donald Trump launch tariff on China after that Gold move 1 sided as well Silver & other base metals upside which was for quiet a long time also, now after 5 years almost Biden Government has applied the same.Effect: Bullion will move upside more based on this news positionally. Rest will impact as per the details tariffs news, we will update you as it arrives. COMEX Gold has a good resistance @ 2451$, any upside breakout buy apply only above 2456$+ for target 2497$ onlyDownside 1st Buy attempt @ 2400$ & below that 2370$ will applyHigher accuracy in MCX please follow COMEX or match to be more accurateWe believe its very difficult for gold to cross 2455$ so better be on sell with mention points onlyGold Range: 73135 -74600Our Preference: Buy Gold 73135 for target 73867 & 74400 with SL 72935 below only of sustainAlternative Scenario: Sell Gold 74625 with SL 74800 for target 73800 & below 73600 target extended 73135Trading Zone 73600 Buy with SL 80 pointBreakout Buy 74800+ for target 75825Stop Sell 73520 below only for target 73135 Maintain SL of 100 point on each side Silver As per COMEX 32.65$ is the best sell point for SILVER, next upside move apply only above 33$+ till the time it will try to touch 30.78$ - all levels apply as per future only.Silver RSI is on extreme levels we expect it will make more pull back or trade on sideways as of now in the given range of 32.65$ - 30.78$. Range: 96380 - 90918Our Preference: Sell Silver 32.65$ = 96300 around for target 90850 with SL 96900+ only if sustain Alternative Scenario: Buy Silver 90800 for target 93500 with SL 90200 below only if sustainTrading Zone 94700 Sell with SL 300 point for target 93200Sell stop below 89900 for target 87800 with SL 400 pointStop loss are high because range, volume & speed is high so control your lot size to trade in market.
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