Fundamentals for the Day
Bullion movement will arrive more at 7.00 pm
7.00 PM Non Farm Employment Change
Average Hourly Earnings m/m
Unemployment Rate
As we mention in yesterday's report Gold sell position will activate only from Friday noon or in evening.
Now upper side Gold cap is at 54020.
So as a a day trader I want to sell my Gold around 53900 with back up till 54100 for target 53350 only, So this trade will clear my loss of previous selling position.
As we can see Gold has take a low of 1618$ & move upside by 200$ & touch 1818$ which seems
a 1st stroke sell price @ 1818$ with risk only above 1826$ for target 1790$.
Gold
Range: 54020 - 53350
Our Preference: Sell Gold 54000 for target 53450 with SL 54150
Alternative Scenario: Any breakout buy apply above 54200+ for target 54800 with risk of 150 point only
Silver
Range: 66500 - 64000
Our Preference: Sell Silver 66500 for target 65000 & 64000 with SL 66800