Fundamentals for the Day
7.00 pm Core Durable Good Order m/m
Durable Goods Order m/m
8.30 pm Pending Home Sales m/m
9.00 pm FOMC Member Jefferson Speaks
Most of commodities will remain downside Like all metals + Bullion as well.
Gold
Range: 54900 - 55780
Session Call: Buy Gold 55300 with SL 55150 target 55550
Our Preference: Buy Gold 54950 for target 55500 with SL 54800
Alternative Scenario: Sell Gold 55750 with SL 55850 target 55300
COMEX Gold has a good support @ 1797$ which is a 50%price of High 1917$ Low 1618$.
Which should work for a week.
As per COMEX - MCX has a bottom @ 54900 = 1796$ which is a good buy for 600 point around.
Silver
Range: 63350 - 64900
Our Preference: Buy Silver 63350+ for target 64400 with SL 63100
Alternative Scenario: Sell Silver 65040 with SL 65300+ for target 64100
Breakout Silver below 62900 will continue good downside.