Yesterday the Fed meeting was held and there wasnt any comment which can fluctuate the market vigorously. The US Dollar become stronger as it was weak for last couple of days. The Gold retreat to same manner as it was higher in Asian and European market and went as high as $1407. My selling point of $1405 with $4 stop was accurate. And the buying price occur with low of $1392. Today my recommendation is to buy @$1392 with stop loss of $1388 and take profit @$1400. I am still bearish for the Gold.
The Crude oil also followed Gold and was lower due to strong US Dollar. The high was around $89 and low was $87.75. so the range was held for the last couple of days. Today our selling occurs @$88.95 with stop loss of $89.25 and buying occurs @$87.59.
Syed Arif
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