Gold: October 08 Review
| Oct 08, 2019 11:35AM ET
Fed meeting will start at the end of this month. And chances of Fed rate-cut decision to 69.5% against 78% from last week.
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Traders always keep an eye at this time of Global fears, US-China trade war uncertainty, Hong Kong drama. Safe heaven demands like Gold, Silver, UJ and Swiss franc traded positive at this time of situations.
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Dow 30 futures traded -32 points, down 0.12% range at early European hours and closed down trend Monday also
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Gold futures, December contract traded $1494.50 range, down -0.08 range at early European hours.
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For intraday and BTST strategy for Gold given below.
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Entry point - $1494.50-$1492.00 range
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and keep S1 $1484.00
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and wait R1 $1508.50
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and wait R2 $1512.00
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and wait R3 $1517.90
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