Ukraine vs Russia problem is on High. Ukraine assume there could be a attack by Russia on 16th Feb 2022. But still Russia has not declare anything about the same from their side. If Russia get their terms & agreement complete in next 72 hours a War can be avoided.
Technical: Gold has touch its 1st milestone 1879.8$ as we mention & make a high @ 1881.6$. Gold is in little bit overbought condition. Which mean it can take a little dip till 1865$ & 1851.3$ below that in extension. Next upside buy only apply above 1884$+ for upside move extended till 1910$.
Russia: Southern, Western armies returning to bases: TASS
A trio of Russian headlines:
- Russia is preparing a series of military drills; Most military districts and fleets will participate.
- Live fire drills will be held in Russia and Belarus on the 19th of February
- Russia Returning Some Troops To Bases After Drills
Impact: Gold silver down Nasdaq, Nifty & other indices upside again
Gold has a base price of 1851.6$ which should be equivalent to 49471.
Fundamentals for the day
7.00 PM US PPI
Core PPI m/m
Range: 50350 - 49500
Our Preference: Buy Gold 49471+ for target 49950 with SL 49300 below only
Alternative Scenario: Sell Gold 49280 below for target 48902 with SL 130 point+
Range: 63000 - 64800
Our Preference: Buy Silver 63001+ for target 64600 with SL 62600 below
Alternative Scenario: Buy Silver 62275+ for target 63275 with SL 300 point