Fundamentals for the Day
5.45 pm ADP Non Farm Employment Change
6.00 pm Employment Cost Index q/q
7.15 pm Chicago PMI
7.30 pm Pending Home Sales m/m
8.00 pm Crude Oil Inventories
11.30 pm Federal Fund Rates
FOMC Press Conference
Yesterday,
- Loud blast heard in Lebanon’s capital Beirut: RTR Israel take a credit of this
- Effect: Gold move upside from 68900 to 69550
- This may continue upside above 69700 to 70184
Gold
Range: 70184 - 68663
Our Preference: Sell Gold @ 69592 target 68663 with SL 69750+ only if sustain
Alternative Scenario: Sell Gold 70050 add more at 70184 target 68683 with SL 70300+ only if sustain
Silver
Range: 84555 - 80600
Our Preference: Sell Silver 84555 with back up sell 84950 target 82000 & 80650 with SL 85100+ only if sustain
Alternative Scenario: Buy Silver 82300 target 84500 with SL 300 point