Excerpt from the Daily Newsletter shared with our subscribers on 3 Feb 2023 at 08.00 AM (IST) = 2 Feb, 9.30 PM (EST).
Global Equity Indices
Today, it is the non-farm payroll announcement. Continue holding the short position in indices. Closing is expected to be lower. Today’s non-farm payroll may be higher which may concern the future possibility of higher interest rates. The next week has certain planetary combinations that can cause major events (natural or man-made disasters/geo-political concerns). It may not be a favorable period for the market.
Precious Metals
It was advised to short Gold (Apr) at 1955 with S/L 1978. Gold has support at 1905 and resistance at 1978. Also, took a short position in Silver at 24.50 with S/L 25.00.
Update: Covered the short position on Friday and made long position for next week.