Fundamentals for the Day
6.45 pm Non Farm Employment Change
8.30 pm Fed Cahir Powell Testifies
JOLTS Job Opening
Final Wholesale Inventories m/m
9.00 pm Crude Oil Inventories
10.30 pm FOMC Member Daly Speaks
- Gold is trading in overbought condition as of now, on upper side maximum upside as of now is 65500.
- Positional Trader will start sell Gold @ 65000 with back up 65500 for 1st target 63150 as of now
- We expect Thursday or Friday will be downside for Gold & Silver both.
Gold
Range: 65150 - 64500
Our Preference: Sell Gold 64990 target 64550 with SL 65150
Alternative Scenario: Buy Gold 64530 SL 64400 target 64850
Breakout Sell 64400 target 63955
Positoanl Sell
Silver
Range: 74000 - 72500
Our Preference: Sell Silver 73816 target 72500 with SL 74200+ only if sustain
Alternative Scenario: Breakout Buy 74500+ target 75900 with SL 300 point