Open Interest reduce to 4,80,897 from 4,89,682. This indicates Gold will move downside only. Strategy : Sell on rise
Yesterday, Gold move up from Low 58,500 towards High 59,232.
Gold move up in 3 session of 30 min under US Timing. Begin from pre opening session of US @ 5.30 pm 2nd Buy @ 8 to 8.30 pm 3rd round last bounce @ 11 to 11.30 pm was biggest session.
Fundamentals for the Day
7.30 pm Pending Home Sales m/m
FOMC Member Barr Speaks
8.00 pm Crude Oil Inventories
Gold
Range: 59200 - 58181
Our Preference: Sell Gold 59200 for target 58500 & 58181 with SL 59350
Alternative Scenario: Buy Gold 58465 for target 58800 with SL 58300
Gold has already open the gate of 57613 rs this can be done in next 3 days probably But ZIGZAG may continue.
Silver
Range: 70775 - 68350
Our Preference: Sell Silver 70775 with SL 71000+ only if sustain for target 69650
Alternative Scenario: Buy Silver 69250+ target 70000 with SL 69000