Gold: October 08 review
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.
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.
Dow 30 futures traded -32 points, down 0.12% range at early European hours and closed down trend Monday also
Gold futures, December contract traded $1494.50 range, down -0.08 range at early European hours.
For intraday and BTST strategy for Gold given below.
Entry point – $1494.50-$1492.00 range
and keep S1 $1484.00
and wait R1 $1508.50
and wait R2 $1512.00
and wait R3 $1517.90