GOLD: 17 APRIL REVIEW.
All Asian and European stocks traded positive today due to US president Donald Trump's plan to reopen the world's largest economy after a month-long lock down period to prevent the corona-virus pandemic.
On the other side, Precious metals like Gold and Silver prices were crashed today also after made a seven years high $1788.80 range this week. Gold and Silver prices decreased more than 4% in last two sessions.
After Saudi Arabia and Russia deal(world's biggest Oil producer), Oil demand was continue down and prices traded around $18.05 range. The demand of Crude Oil decreased by 9 million barrels/day in 2020.
Dow 30 futures, June contract traded +770 points, up 3.25% at morning European hours.
The death toll due to corona-virus from the United States approached around 35000 as on Friday.
The US Dollar is continue showing its strength because of IMF's prediction that the world economy would contract the most since the Great Depression pressurizing those countries which rely on external financing. The US Dollar Index traded positive today and traded $100.140 range up +0.02% against a basket of other currencies.
According to my point of view, at this pandemic situation, anytime there is a need to get cash and liquidity on hand, Gold prices is going to be down trend. Prices of Gold and Silver increased by more than 13% and 16% respectively in this month.
By 0700 AM GMT, Gold futures, June contract traded $1721.20 range, down -0.65%.
Expectation of major profit booking in precious metals like Gold and Silver today on wards.
From my point of view, overall intraday trend remains negative for Hedge funds like for Gold and Silver.
The next area for attention is below $1703.40 range(June Contract - today's low) and keeps down trend till $1665.00. And on the upside, I am looking at $1736.25(new high), but for trading point of view short Gold prices at every high level. And you will see more than 2-3% down trend today.
Intraday and weekly strategy for Gold is given below.
Entry point - $1721.20 - $1725.00 range
And keep R1 $1736.25
And wait S1 $1690.00
And wait S2 $1680.00
And wait S3 $1665.00
All Asian and European stocks traded positive today due to US president Donald Trump's plan to reopen the world's largest economy after a month-long lock down period to prevent the corona-virus pandemic.
On the other side, Precious metals like Gold and Silver prices were crashed today also after made a seven years high $1788.80 range this week. Gold and Silver prices decreased more than 4% in last two sessions.
After Saudi Arabia and Russia deal(world's biggest Oil producer), Oil demand was continue down and prices traded around $18.05 range. The demand of Crude Oil decreased by 9 million barrels/day in 2020.
Dow 30 futures, June contract traded +770 points, up 3.25% at morning European hours.
The death toll due to corona-virus from the United States approached around 35000 as on Friday.
The US Dollar is continue showing its strength because of IMF's prediction that the world economy would contract the most since the Great Depression pressurizing those countries which rely on external financing. The US Dollar Index traded positive today and traded $100.140 range up +0.02% against a basket of other currencies.
According to my point of view, at this pandemic situation, anytime there is a need to get cash and liquidity on hand, Gold prices is going to be down trend. Prices of Gold and Silver increased by more than 13% and 16% respectively in this month.
By 0700 AM GMT, Gold futures, June contract traded $1721.20 range, down -0.65%.
Expectation of major profit booking in precious metals like Gold and Silver today on wards.
From my point of view, overall intraday trend remains negative for Hedge funds like for Gold and Silver.
The next area for attention is below $1703.40 range(June Contract - today's low) and keeps down trend till $1665.00. And on the upside, I am looking at $1736.25(new high), but for trading point of view short Gold prices at every high level. And you will see more than 2-3% down trend today.
Intraday and weekly strategy for Gold is given below.
Entry point - $1721.20 - $1725.00 range
And keep R1 $1736.25
And wait S1 $1690.00
And wait S2 $1680.00
And wait S3 $1665.00
Note
See…GOLD….made a low@1697.00 range again today also…..against short@1721.20-1725.00 range again today......and against sell@1788.00 range on last tuesday also on few hours ago--see today's/tuesday's sell call 1st—what next???S1 $1665.00
R1 $1736.25….GOLD....TODAY......
Trade closed: target reached
See..…GOLD…..made a low@1691.50 range on friday.....against short@1721.20-1725.00 range on friday.......and against short@1760.00-1767.00 range on thursday.......and against short@1784.80-1788.00 range on tuesday.......see all short call 1st---what next???S1 $1665.00
R1 $1725.00….GOLD......NEXT WEEK.....
See…SILVER….made a low@15.197 range on friday........against short@15.620-15.650 range on friday.......and against short@15.850-15.890 range on thursday........and against short@16.250-16.290 range on tuesday........see all short call 1st----what next???
S1 $14.900
R1 $15.797…..SILVER......NEXT WEEK......
Note
ALL TGT HITTED
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.