Fundamentals for the Day
6.00 pm Unemployment Claims Trade Balance
8.00 pm Natural Gas Storage
9.45 pm FOMC Member Barkin Speaks
11.30 pm FOMC Member Mester Speaks
- Gold has touch 70,000 almost its now, only 2 Days Left more for upside as if it touch 72,000 will complete our target soon
- Gold is trading in extreme overbought zone & do not wants to give up its bull side, which will make it clear it can come down heavily if it clear its upside target from where Monday will be or next week is a sell side position only in the closing of Friday or Monday noon 12 pm with our mention target price is an entry point.
- As per COMEX Future 2322$ is a resistance for Sell next upside breakout @ 2330$+ Buy apply compare the same with MCX & make a Buy & Sell Position as per this level Match with COMEX.
Gold
Range: 72000 - 69268
Our Preference: Buy Gold 69268 with SL 150 point for target 69850 & 72000
Alternative Scenario: Buy Gold 68700 with SL 68520 for the target as above.
Trading Zone
70000 Sell @ 1st stroke SL 70 point
Silver
- Silver has cross its 26.65$ previous high & cross successfully which has open the target of 28.20$ as of now.
Range: 78500 - 82000
Our Preference: Buy Silver 78500 target 82000 with SL 78100